Pros and Cons of Selling a Fully Furnished Condo

When selling a condo, you may be wondering whether to leave the furniture for the buyer. Use this advice about selling furnished or unfurnished spaces.

Pros and Cons of Selling a Fully Furnished Condo Close
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Pros and Cons of Selling a Fully Furnished Condo

Posted by Gary Ashton RE/MAX Advantage on Thursday, May 4th, 2017 at 10:10am.

How to Decide Whether or Not to Sell a Condo Furnished or Unfurnished Thinking about selling a condo? A wide range of buyers are being attracted to condo living in metropolitan regions across the country. College students are looking for the best place to live close to universities and public transportation. Working professionals enjoy living in condos in downtown areas that are located close to their places of work. Meanwhile, retirees are seeking out condos once their adult children leave their old homes. They are looking to downsize both their available space and the hassles of performing maintenance on a home.

With all these buyers interested in your condo, you can get the best price for your place as you can then move on to a different residence. Yet one of the issues you have to decide on is whether you want to sell the condo furnished or unfurnished. Will it sell better if it is furnished? Should you move everything to make it easier for the buyer and their interior design ideas?

Selling a Furnished Condo

There are a number of buyers who are looking for turnkey condos. They want to move into a fully furnished space without worrying about buying and/or moving furniture into the place. Fully furnished condos usually appeal to people who are relocating from another state or another country. They don't mind paying a higher asking price to have all the furniture they need in a fully functional home. All the buyer needs to do now is buy those extra items suitable for their specific lifestyle. The furniture and decor can make the home feel more comforting and welcoming to the new owner.

Selling a fully furnished condo can also be helpful to you. If you must move constantly because of a job, you don't want to deal with renting a storage space. Just leave the furniture there for the next owner to keep your moving costs low. Then, simply look for new furniture later when the time comes to settle down again.

In addition, many buyers fall in love with condos due to the way that the furniture was staged in the space. By leaving it there, you save on staging costs and the buyer knows that the condo will look exactly the same way they first saw it during the showing.

Selling an Unfurnished Condo

Some furniture will have a sentimental value to you. An old dresser or a set of chairs given to you by a relative could be too emotionally painful to leave behind. Selling an unfurnished condo may be your best bet during circumstances where you just don't want to part with furniture that you have had for long periods of time. Keeping the furniture also cuts down on your costs if your money is too tight to purchase new items.

Another issue is that some home buyers simply may not be in love with your particular design tastes. In this case, leaving the furniture can cause undue hassles for the buyer. They will have to get rid of the furniture themselves or sell it off, along with having to pay for a higher price for the condo due to the furniture that they do not want.

Also, don't assume that leaving your furniture there will increase the value of the condo. Old furniture can be a detriment as it makes the entire place feel outdated. Buyers may actually be turned off from the condo due to the state of the furniture.

Make the Best Decision for Your Circumstances

There are many pros and cons to both selling a furnished condo and an unfurnished condo. The best way to determine how to proceed is to look up current real estate market trends in the area. With the helpful analysis from a real estate agent, you can gain a deeper understanding about buyers' preferences in a condo. Then you can make the right situation based on your circumstances.

Another aspect to consider is that you may find buyers who don't want a completely furnished space but would like certain specific pieces of furniture and appliances left in the condo. So you may be in the position where the buyer doesn't want any of the couches or tables, but would like the bedroom dressers and washer/dryer combo to stay.

If you are in the mood to further negotiate which items stay and which items leave with you, ensure that any agreements are made in writing and included in the closing agreement. Then you can avoid any disagreements that could complicate the closing transaction on the condo.

 

Gary Ashton

The Ashton Real Estate Group of RE/MAX Advantage

The #1 Real Estate Team in Tennessee and #4 RE/MAX team in the world!

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