5 Steps To Sell Your Vacation Home
by Caroline Kirby
You hear it from everyone, “vacation homes are a good investment,” but unfortunately that only holds true if you’re going to be using that property on a regular basis. If you don’t use it at least once a year you’re not getting its full worth.
With that in mind, the decision to sell won’t be easy. It will require a lot of thought and time, but if you find that you are ready to put your vacation property on the market, there are some important things to be aware of.
The National Association of Realtors says that the market for vacation homes greatly differs from that of primary residential properties; meaning you’ll need to play by different rules and be educated on different selling points and strategies. Additionally, the NAR found in their 2017 study that the average price vacation home buyers spent jumped from $192,000 to $200,000. If you want to have a quick and successful sell read on for some great tips.
Necessary Steps to Sell Your Vacation Home
- Get Organized: You’ll need to disclose the rental history of your property to your real estate agent or potential buyers. Regardless of the buyers’ motivation for purchase (personal use or to rent out), they’ll all be interested in the history of the home. Things to include on your list are all of the websites where the house is listed, the name of the property manager, the rental income, and projected rental income for the upcoming 3-6 months.
- Get an Appraisal: This will only cost you a couple hundred dollars but will also be a huge help in fairly and accurately pricing your home. Potential buyers will also appreciate the gesture, and this show of good faith may speed the process along a little faster.
- Think of the Big Picture: Vacation homes are typically multi-generational. Grandparents purchase hoping their children will bring the grandkids or that they can pass the property down to loved ones in the future. Can your property presently accommodate multiple people and age groups? If not, consider making a few updates to do so. This would be a great marketing point to use when you list your property.
- Identify the Highlights: What makes your home special? A vacation home is often a dream for most people, and many romanticize the idea of one—people love vacation homes because they have this fantasy of being disconnected from their everyday lives. Is your property secluded? Emphasize escapism and use this as another strong selling point to garner interest.
- Be Detail-Oriented: Remember how we said vacation homes are a dream? It needs to look like one. Executing every single aspect of the home before listing is crucial. Landscaping needs to be on point, excellent interior design is a must, and most of all put curb appeal first. You can’t sell a dream home if the property looks like a nightmare.
Selling a vacation home is different from residential properties, but it’s not impossible. The key is to incorporate details that really stand out; often times buyers are only in town for a short amount of time meaning they try to see as many potential homes in a just a day or two. If your property doesn’t grab their attention, they’ll likely forget it altogether.
When you’re ready to take the plunge and get your vacation home on the market—we’re here!
More and more buyers are looking for their vacation properties online every day, we can help you sell your property quickly and easily. Check out our plans here and don’t hesitate to reach out with questions!
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