One of the reasons that this real estate investor decided to stage his personal home, despite the fact that this would be a pretty heavy price tag,
the cost of vacant home staging is 1 % of list price, is because he knows that in the end, he will receive a return on investment greater than the cost of staging.
Consider
the cost of a vacant home.
Not exact matches
«Today's agreements are a welcome step forward in our fight to stop the epidemic
of vacant «zombie
homes,» which have burdened our communities with maintenance
costs, lowered property values, and crime,» he said.
CCIP has counseled over 4,200 families, assisted 722 first - time
home buyers in securing mortgage financing, down payment, and closing
cost assistance, made
home ownership possible for 59 low - income families through an innovative lease - purchase program, and provided 95 first - time
home buyers with affordable
homes through the rehabilitation
of 90
vacant units and the construction
of 16 new townhouses.
Ultimately, you will need to make a decision on how to balance all the
costs of maintaining a
vacant home versus how much you'd lose if you were to sell the property quickly but below it's true market value.
For instance, you are allowed to deduct transportation and storage
costs for household items (including boats and trailers), travel expenses, temporary living expenses (up to a maximum
of 15 days),
costs to maintain your
vacant home (up to a maximum
of $ 5,000), as well as
costs associated with selling your old
home and buying your new
home.
Great staging at a fraction
of traditional staging
costs paid at closing, a reduction in your overall carrying
costs, care
of your
home from the inside and out, statistically faster sales and significantly higher offers than a similar
vacant home that is for sale.
The
cost to insure a
vacant home is based on a variety
of factors, including the state it's located in, the amount
of coverage you want, and the
home's risk factors.
I approached owners
of local resort - style condos via direct mail (at a
cost of about $ 375) and asked them if they would be interested in generating revenue when their
homes are
vacant.
For example, in Iowa's 4th District, represented by Rep. Steve King (R), there are 344,251 housing units, the
home ownership rate is 72.4 percent, 10.7 percent
of the housing stock is
vacant, the median
home value is $ 102,400, and the median monthly housing
cost for
homes with mortgages is $ 1,004.
Keeping up appearances
of a
vacant home and unkempt yard might well
cost more than a real estate agent is willing to invest.
They transformed an existing neighborhood into a cohousing community, making it more
cost effective for residents and rehabilitating a community suffering from a large inventory
of vacant and distressed
homes.
But the high
cost of cleaning — $ 5,000 to $ 100,000, depending on the size
of the
home, the stringency
of the requirements and the degree
of contamination — has left properties
vacant and quarantined, particularly in areas afflicted with meth use.
Rental furnishings can be an economical and even
cost - saving way to furnish a
vacant home, as a
home that is properly staged (and priced - correctly for the market) will typically sell more quickly than a
vacant home, reducing the time the
home sits on the market and thereby reducing the amount
of taxes, utility bills, association dues, and so forth, that must come out
of the seller's pocket.