Hi! Welcome to my Salt Lake City real estate blog. Today’s post focuses on the drawbacks of selling a furnished home in Salt Lake City.
With many people in Salt Lake City divided on the issue of selling homes furnished or unfurnished it’s harder than ever to make a decision on what you should do. Below are a few essential reasons why you might be at a disadvantage selling your Salt Lake City home fully furnished.
Selling your home can be complicated enough without having to deal with buyers who want to negotiate every item in the home. The average buyer can be a very fickle creature, some may decide that they want some of your furnishings but not all and others may walk away from the deal because they don’t want any of it. For help in the complicated process of selling your home, call me, Chris Johnson, at 801.938.3466.
Selling your Salt Lake City home fully furnished will increase its value, which you would think would be a good thing but you might be wrong. If your home is selling at a different price than other similar homes in your Salt Lake City neighborhood then that may lead to an inaccurate appraisal. This can have a negative impact on a buyer’s financing.
The more your home is worth the more you will have to pay in capital gains taxes. If you go over the limit, (250,000 for single and 500,000 for married) you may owe much more money to the government in taxes.
The worst mistake you can make is to not educate yourself before making a decision. If you would like more details on selling furnished vs. unfurnished homes, call me at 801.938.3466.
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