Home Selling: Pros and Cons of Open Houses

Open houses are a good means of selling a house but like any other methods, it has its share of advantages and drawbacks. Before you decide if it’s worth it to have an open house, make sure you know the pros and cons.

Pro

Open houses attract buyers. There are people who are not comfortable working with an agent so they prefer to buy houses on their own. Open houses provide a less intimidating way of viewing your home. Potential buyers who do not feel pressured by hovering agents will have a good time of considering themselves in your home.

Con

Open houses attract the wrong crowd. Not all onlookers are serious buyers. Some are just nosy neighbors while others are looking at some things they could steal upstairs while you are busy answering questions from other house shoppers. A large number of shoppers also pose risk of property damage. Visitors who tend to get comfortable with your belongings might leave dirt tracks or worst, break valuable vases and furniture.

Pro

You can save on staging costs with open houses. Staging your house for the sale involves time and money. Drawing multiple buyers at the same time could mean less private showings resulting in less last-minute preparations and staging. Since open houses are less intimidating, people are inclined to give you feedback about your house. These feedback can be valuable information towards improving your house and close on the next buyer.

Con

Not all houses’ location is perfect for an open house. Some cannot just accommodate several cars parking in so the owners can go inside the open house. If you are still living in the house you are planning to sell, open house means you have to vacate the premises together with your children and pets.

Bottom line, open house does not work for everybody. If you want to have a quick sale without the hassle of home staging and showing, sell your house to private investors.

LucasProperties is a private investor who has been in business of buying houses and other properties with cash. Over the years, they have helped property owners disposed their homes hassle-free.

When is the Right Time to Sell Your Home?

You may have heard some experts talk about the seasons or the best time to sell a property. Some say it’s not good to sell during the holidays because people are not really thinking of buying a house as they are more inclined to spend their money on vacation. Some say it is best to sell a house before the classes start because parents are looking to settle down during these times. The perfect time really would depend on the reason you are selling. 

Lifestyle changes are often the reason why people sell their home. It could be a growing family size, job relocation, medical emergency, divorce, or financial difficulties. Sometimes, these situations do not go hand in hand with the market condition and these make home selling difficult. Regardless of the reason, as the decision to sell your home comes forward, you should also consider your personal objectives. 

For example, if you need a bigger home, you might consider renting out first while waiting for your home to sell unless you have the capacity to finance a new home immediately. There are many ways to sell a home; you can sell privately, you can enlist the help of realtors, you can join an auction, or you can sell it on your own. Each option has its pros and cons. With realtors and auctions, you need to spend a certain dollar to pay for their services. Should you decide to sell on your own, you need to invest time and experience to deal with the marketing and selling processes. The money spent in marketing may not be as high compared to enlisting a realtor but the hassle you might face may not worth the money.

More often than not, time is crucial when you are selling your home. It is important to choose a route where you can sell your home with the highest possible returns with the least amount of time and money spent in the process. With that being said, your best option is to sell privately. Unlike realtors, private investors do not ask payment for their services, instead they pay cash for your home. Lucas Properties LLC, a private property investor, has been in the market for many years and they have helped owners sell their home in as short as seven days.