Pros and Cons of an Open House
By: Tanya Torres
Selling your home and preparing to pack up all of your belongings while trying to make back most of your money can make anyone feel anxious and stressed out. It is a lot of work to take on even if you have hired help to do so because you still have a mixture of emotions rising inside of you while your own moving date gets closer and closer. Trying to figure out what strategies work for you like whether an open house is worth it or not which is why we have created a pros and cons list to help you figure out if this strategy is worth your efforts.
Shopping for purchases online is one of the most difficult and convenient tasks that you will ever have to deal with. It is convenient because you are able to look at a ton of listings online from all over that you might not have had the opportunity to do in person for various reasons like not having enough time after work to go check and so on. When an open house is offered for a home on the market, it also allows the person to have a first-hand experience home that allows them to fully visualize their life in the home. Although people can easily check out a home by using the virtual tour feature that is online, it does not always provide a good insight into the home. A person feels better when they can see what they are purchasing in-person and it allows them to see if it will work or not. It is also better to see a home in person before buying it because the pictures may exaggerate on how it looks or it may not do the home justice.
Checking Out the Neighborhood
Living in a great neighborhood is just as important as the house you are buying, which is why going to an open house can really help you decide if this home is perfect for you. When you go to an open house, it gives you the chance to look at the neighborhood and see if it suits you. Does it look friendly? Are there plenty of people who you or your kids can get along with? Does it look scary at night? Do the neighbors take care of their property and so on.
When you offer an open house, it provides a different atmosphere than a scheduled tour because it allows the potential buyers to move freely at their own pace instead of feeling pressured to provide an answer right away. This stress-free environment allows the buyers to have an ample amount of time to start picturing themselves living in these spaces and it can make them more comfortable to ask you more about your home.
Buying a house is exhausting and can take up a person’s life a lot to ensure they find the perfect house for them. Everyone has a busy schedule and sometimes a person wants to go in-person to see if your home is the smart investment for them which is why open houses are very convenient. An open house makes it less stressful for the buyer because they do not have to worry about dealing with keeping up with another appointment time, they can go to the open house whenever.
Preparing Your Home
Planning an open house when you are selling a home can be very stressful since you have to deal with getting your home prepared for the open house. You have to fix any problem areas, update your home’s features and work on your home’s curb appeal all before the open house happens. This can make you feel like this is another tedious task that might not even benefit you in the long run because of how little buyers do purchase a home that has an open house.
It Can Be a Gamble
According to the National Association of Realtors, 6% of home purchases in 2020 was due to having a sign showing that the home was for sale and an open house was available. Although open houses are seen as a way up the chances of selling a home, this is not always necessarily true in some cases. An open house can limit the chances of selling a home for various unknown reasons and in some cases private showing or interest in an online posting might be more favorable for the seller.
Risk of Theft or Break-ins
Although open houses can be beneficial to you when you are selling your home, it also puts a target on your home. For example, an open shows that the home is vacant which means it is at a higher risk of a break-in and theft. With so many people coming in and out of home and only having one person (the real estate agent) there, it can be difficult to keep track of everyone which is why it is recommended to pack away expensive belongings and important paperwork to ensure no one else gets their hands on them.