Open houses can be a bit of a controversial topic in the real estate world. Some professionals insist that they are necessary, others want nothing to do with it, and some are in the middle, having open houses occasionally. Holding an open house when selling your home can have some great benefits, but they also have disadvantages. Being aware of the advantages and limitations of open houses can help you decide what you want and what risks you want to take on.
Pros of Open Houses When Selling a Home
Attract Buyers at the Start of the Homebuying Process – Buying a home is not a process that everyone is familiar with, and open houses can be an easy first step. Especially for first-time homebuyers who may not know where to get information or whom to contact when looking for a home. Open houses can be a way to attract new buyers, which is helpful for any home seller.
Additional Exposure – Exposure is the name of the game when selling your home. Having a solid marketing plan to get as many potential buyers’ eyes on your house is the key to getting a good offer. Open houses can be an excellent way to get additional exposure and advertising.
Reduce Pressure on Buyers – Open houses are often very low-pressure environments where buyers can tour the home with little to no pressure. Some buyers like to analyze a home in detail without having a time constraint or someone showing them around.
Show Off Your Advantages – If you have put considerable time and energy into upkeep in your home, an open house is a great way to show off those features. Visitors will appreciate the unique features of your home or just the general upkeep. This could help your home stand out on the market or over other listings in your neighbourhood.
Cons of Open Houses When Selling a Home
It May Not Sell Your Home – The percentage of homes that actually sell due to an open house is less than 2-3%. While you may get a good turnout, open houses aren’t necessarily going to attract buyers who are at the offer stage yet.
Attracting Unqualified Buyers – Anyone can attend an open house, whether they are financially capable of buying a home or not. Not everyone that attends the open house will be qualified to put an offer on it.
Possible Theft – The reality of an open house is that you will have strangers coming through your home, and you don’t know their intentions. It’s always a good idea to put away any valuables or objects you don’t want to lose.
When considering whether or not to host an open house when selling your home, it is essential to weigh the pros and cons and decide what is best for you. An open house can be a great opportunity to better market your home to buyers. Still, it isn’t for every seller, and it’s not necessary for selling your home. If you are unsure, talk to a local real estate expert about your situation and goals. And, of course, you can always contact me if you have any questions or need any advice!
Well, Saskatoon, it looks like we’ll be spending another summer close to home. With the real estate market as hot as it is right now, it’s evident that some people are taking the opportunity to upgrade their living situations. Imagine finding a home with a great outdoor space—kids’ playset included. Or what if it has a pool? How amazing will your summer be with access to your very own backyard oasis?
If it’s possible to change your primary residence to suit your desired lifestyle better, that is a great option. If you are unable to find your family’s perfect home, what can you do to improve your outdoor space? The good news is, there’s plenty you can do to enhance the outdoor area you do have while you are waiting to move!
Furnishings: Need a place to relax and enjoy your outdoor space? Purchase hardy outdoor furnishings that stand up well to our climate.
Heat It Up: A fire pit or fire table can turn your outdoor space into an inviting gathering place. Adding a heat source to your outdoor space will also increase the amount of time you can enjoy it.
Spruce Up Your Gathering Space: If you have a deck, consider sanding and restaining it to freshen it up. If you have a patio, use a pressure washer to make your blocks look new again and take care of weeds or grass growing between the blocks.
Light It Up: Not only can lights transform the look of outdoor space, but they can also add nighttime safety and security.
Add a Water Feature: A water feature can be a great focal point, easy to install and maintain and come in many affordable options and sizes. Choose from tabletop fountains to large rock features. A successful outdoor space takes all senses into account, including sound. And there is no sound more relaxing than moving water!
Make a Walking Path: Use mulch, stones slabs, or paving stones, to lead to a bench or chair in your favorite spot.
Create Privacy: There’s nothing better about living in Saskatoon than the friendliness of familiarity you’ll feel with your neighbours. But sometimes, you just want to relax without worrying that Wilson next door will hassle you the moment you open the patio door! Adding a fence can help create privacy from neighbors and boundaries from other areas of your home. In urban climates, you may want to add a privacy wall to your deck or patio as well. Creating privacy will give your outdoor space a sense of coziness.
Add Potted Plants: Simple, yet effective, adding potted plants adds an extra touch of green into your outdoor oasis, whether you’re working with a full backyard or cozy condo balcony. Plus, if you’re thinking about selling, it can be an easy way to boost your home’s curb appeal for sale, too!
Create a Shady Place: When the sun is too hot to handle, have a place you can go to escape. A pergola, canvas pole tent, curtains, or a taut piece of canvas will do the trick.
No matter what your outdoor space may look like, there are plenty of ways to boost its appeal while you are waiting to move. And if you find it still just doesn’t feel right, we can always, of course, speed up the timeline and start your home search sooner!