Putting your Breckenridge house on the market is a huge decision. You’ve finally decided you’re ready to move onto the next chapter and allow a new family to make memories in the place you’ve called the “ski home” for years. While it may not suit you any longer, you love your house and assume any potential buyer who walks through the front door will, too. Understandably, it can be a bit shocking (and disappointing) if your house doesn’t sell. It’s hard not to take it personally! However, there are many reasons why your house may not be attracting offers. With interest dwindling, here are a few things you can do to pivot.
Look at feedback from past showings and make cosmetic changes, if possible.
Small issues like squeaky door hinges and broken window blinds may be easy for you to live with, but potential buyers notice these things. As painful as it may be, review feedback from past showings to see what buyers didn’t like about your house. Then, make a short list of projects you can tackle before the next appointment. As a starting point, consider painting all interior walls a neutral color, fixing any leaky faucets, updating your landscaping, and hiring a professional home stager to style your home with furniture, plants, and art.
While it may sound like an unnecessary expense, professional home staging can actually save you from a price reduction. According to Forbes, a staged home will sell for 17 percent more on average than a non-staged home. iFurnish is a local Summit County furniture store that offers professional staging services to homeowners in Breckenridge, Dillon, Frisco, and beyond. We can’t recommend them enough.
Take your house off the market and re-list it as a short-term rental or long-term lease.
Renting is a fantastic option for homeowners who need to move and are unable to sell as quickly as they’d like to. For short-term rental management, we highly recommend Summit Mountain Rentals or Premier Vacation Rentals – their management and concierge services are top-notch.
A long-term lease offers the peace of mind that a single tenant will be living in your home and taking care of the space like it’s their own. At Dwell Summit, we offer long-term rental management and can find a responsible tenant to sign a ski season lease that runs from November 1st through April 30th.
Due to COVID-19, homeowners in the position to rent out their properties are at a huge advantage for increased rent. City dwellers and those who work from home are tired of looking at the same four walls and are motivated to relocate somewhere different where they can enjoy beautiful scenery and a different pace of life. I’d even include myself in this category! While I absolutely love it here, I’m tempted to lease out my Breckenridge home and spend a few months on Crystal Lake in northeast Pennsylvania, where I spent my summers growing up.
Whether you decide on a short-term rental or long-term lease, renting your home through the winter will offer you the opportunity to put your house back on the market in the spring or early summer next year.
Consider a price reduction.
No seller wants to hear they should lower the price of their home. However, it may become necessary if you’re selling in a buyer’s market or if your home was initially priced too high. If you have exhausted your other options, including making cosmetic changes and relisting your home as a short-term rental or long-term lease, a Summit County real estate agent can help you set an appropriate price for your home that will attract a wide pool of qualified buyers.
At Dwell Summit, we’re here to help.
There could be a number of reasons why your house hasn’t sold as fast as you expected it to. The circumstances surrounding COVID-19 add an extra element of uncertainty, making the home selling process downright daunting. Whether it’s deciding on which cosmetic changes will please picky buyers or transitioning your home to a long-term lease for the time being, we’re here to help you adapt to the rapidly changing market.