The Costs of Keeping Your House on the Market Long-Term

Having your house listed for a prolonged duration can be both disheartening and taxing, not to mention it brings many drawbacks. In this piece, we’ll identify the pitfalls of having an extended listing period, as well as steps you can take to remedy the situation. Let’s take a closer look and get you on the path to a sold home and peace of mind.

Decreased Interest from Buyers

Keeping your house on the market for an extended amount of time can be detrimental – potential buyers will start to question why it is still available, and could assume that something’s wrong with the property or that it has been overpriced. This often results in waning interest from these prospective purchasers who eventually move onto other options.

Stale Listings

Another problem with keeping your house on the market for too long is that it can become a stale listing. Stale listings are properties that have been on the market for a long time and haven’t received any offers. When your listing becomes stale, it can be difficult to attract new buyers, even if you lower the price.

Reduced Price

The longer your house is on the market, the more likely it is that you’ll have to reduce the price. This can be frustrating for sellers who want to get the best price possible for their home. However, if you keep your house on the market for too long, you may have to lower the price in order to generate interest from potential buyers.

Increased Carrying Costs

Prolonging your home’s presence in the real estate market can lead to a heavier financial burden from carrying costs. Carrying costs consist of mortgage payments, taxes, and utilities – all of which add up over time if you’re not able to sell quickly. This could be especially detrimental for those who have already moved out and are paying for two residences at once.

Stress and Uncertainty

When it comes to keeping your house on the market, you may find yourself in a time-consuming and emotionally draining cycle. You must keep up with cleaning and staging for showings, as well as dealing with lowball offers or even no offers at all. If you’ve already bought a new place, this situation can quickly become overwhelming due to an impending sense of uncertainty about when your home will actually sell.

What to Do

If keeping your house on the market is a bad thing, then the natural thing to do is get it off! There are a number of ways to do this, and some methods are easier than others. While it might be possible to relist with a better agent, another great way is to sell it fast with a professional home-buying company. These sales can be completed in as little as 7 days, and you’ll walk away with cash-in-hand without having to worry about closing costs or agent commissions.

If this sounds appealing to you, then come check out how our process works here!

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