Should I Include/Sell my furniture when selling my Home
There are many decisions sellers need to make when putting a property on the market. Choosing to sell is just the first step.
If you’re selling your home, you may be wondering whether you should leave the furniture for buyers. If you are downsizing it may be the case that you just can’t take all your furniture with you.
In this article, we’ll provide an overview of the pros and cons of selling a furnished home to help you decide which is best for your property.
Pros of Selling Your House With Furniture
1. It Can Be More Attractive
For the right buyer, selling a house with furniture included can be a great selling point – especially in a competitive market.
This is particularly the case if you plan on marketing your property to first-time buyers or buyers moving to the UK.
As property experts, we always recommend keeping furniture in a house when you’re selling up. An empty property often makes it harder for buyers to visualise what the space can be used for and strangely makes the house feel smaller.
Plus, photos of furnished rooms look better and help people differentiate the spaces.
3. It Can Save Time
Clearing out a property is one of the most time-consuming tasks for sellers. Leaving furniture can save you a lot of time. You won’t have to sell the furniture or shift it elsewhere – which is especially helpful if you’re moving abroad.
Plus, if you’re leaving all your furniture, you won’t have to pay removal costs either.
4. It Can Sell for a Higher Price
Leaving your furniture in the property for buyers is often a quick way to make some extra cash.
Plus, depending on what you’re leaving behind, selling a fully furnished property could be valued higher than others on the market.
Cons of Selling Your House With Furniture
While some buyers could be attracted to a furnished property, it could put some people off. If you’re selling a family home with furniture, your target buyers may already have their own stuff to bring – and therefore may be unhappy paying a higher price for something they don’t need.
In this case, it may be best to provide the option to keep the furniture, rather than making it a requirement upon purchase. Just be prepared that this could mean you’ll need to arrange for the furniture to be sold or removed at the buyers’ request.
2. You Can Lose Money
If you want to sell your house fully furnished, consider what you’re spending on the furnishings and how much their resale value is worth.
Selling your furniture to buyers should be reasonably priced. You only have to go to a second hand furniture shop to realise that prices are very low and if you have “brown” furniture it is almost without value.
If you allocate a value for the furniture within the sales contract this is classed as chattels and is not liable for Stamp Duty which can save the purchaser some money and make your house more attractive. We sold the house on the left and £10’s thousands of pounds were allocated to the furniture which saved the buyer £1,000’s on Stamp Duty.
If you are selling a second home it can benefit both parties as the seller can claim back the reduction of value of their furniture against their tax liability. Please talk to your accountant about this.
How to Decide if You Should Leave Furniture When Selling
Before deciding whether you should leave the furniture for buyers, consider:
- What the furniture is worth to you
- Whether you want to keep the furniture in your new home. Really think about this as we have many sellers who want to take their dining table and chairs and when we ask whether they will fit in their new home the answer is often no, or it will be a squeeze. Why pay for removal costs if you are only going to take it to a charity shop or the tip at the other end!
- Whether your target buyer would prefer furniture left or not
If you still need help deciding, speak to a local estate agent for advice.
At Chartsedge, we’re property experts and we’d be happy to talk through what’s best for you and your target market.
Give us a call today on 01803 505115 or email us at firstname.lastname@example.org to arrange a call back.
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