Like all other types of houses, big houses have pros and cons. They have more than enough space for everything that you need.
However, big houses can be difficult, not to mention expensive, to clean and maintain.
In the real estate market, are big houses easier or more difficult to sell? For all we know, many people want a big house, because who wouldn’t, but not all of them can buy one.
In this article, we will discuss if big houses sell faster or slower and the best strategies you can apply when selling a big house:
Here’s How Fast or Slow You Can Sell a Big House:
Many people may want a big house, but these houses can take longer to sell. In the past year, big houses have been roughly 73% slower to sell, equating to around 50 days slower than when selling normal-sized houses in the real estate market.
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When Are Houses Considered “Big”?
Houses with a total area of more than 4,000 square feet are considered big.
These houses can hold 3 to 5 bedrooms, depending on the size of each room, and 2 to 4 bathrooms.
These houses can also have dedicated spaces for living, dining, and the kitchen, plus a small extra room that can be used as an office or study area, depending on the homeowner’s preference.
A house that can be considered normal size has an area of anywhere between 2,000 and 4,000 square feet. These houses are more than sufficient even for a family with three kids.
What Is the Best Strategy For Selling a Big House Faster?
Since big houses sell slower than average-sized and smaller-sized houses on the market, you need to have some strategy when you’re planning to put a big house for sale.
Here are some tips:
Get a Good and Reliable Real Estate Agent
When selling a house, be it big or small, you would want to sell it faster because the longer it is on the market can, the lower its value can depreciate.
In scenarios like this, where time is essential, getting a real estate agent is highly recommended. And get a good one at that!
Get a real estate agent who knows the market better and has previous experience in selling big houses. Since they have helped sellers in a similar situation, there’s no doubt they’d be able to help you.
Check real estate advertisements and look for big houses. Check if the ads have nice photos and detailed descriptions, and then try to get the agent’s contact details from there.
You can also ask your family, friends, and neighbors for referrals, as they might know a great real estate agent with tons of experience in big houses.
Sell the House at a Competitive Price
Just because your house is big doesn’t mean it should be expensive.
Before setting a price for your house:
- Do your research first.
- Check real estate websites to see how much similar-sized houses in your area are normally priced.
- Get the average price per square foot and apply it to your house to get a base or reference price.
From there, you can increase or decrease the actual selling price of your house based on its current condition.
- Is it newly renovated?
- Are the yards well-maintained?
- Does the roof or any part of the house need fixing?
- Will the furniture be included?
These are important details you need to consider when setting the price of your house!
Set a minimum and maximum price that you want to sell your house for. You don’t want to miss out on a good deal just because you don’t want to lower the selling price, even just a tiny bit.
If you have a good real estate agent knowledgeable about the market, they can help you with the pricing and recommend adjustments when necessary.
Do Minor Repairs
Any repairs needed in the house must be included in the detailed description, but you can expect buyers to be discouraged by this.
If something needs repairing and requires a minor fix, it’s best to do it yourself or get a professional to do it. By repairing minor issues with the house, you can increase its value and make it more appealing to buyers.
Buyers are more attracted to houses that require zero to minimal repairs.
That’s because it means they can just move and settle in without having to do anything to make the house suitable for living.
Clean the House
When selling a house, despite of how big or small it is, it always helps to clean and declutter it. This makes the house more appealing to buyers.
You can hire a professional if you don’t have the time to do this. You can also ask your family and friends for help if you have a limited budget.
The key is to make the house as enticing to buyers as possible.
When the house looks nice and clean, buyers can easily envision themselves living in it, increasing the chances of your house getting sold faster.
Stage the House
Big houses can pose the same problem as small houses when it comes to selling them. It can be pretty challenging for people in the market to see how the house would fit their needs and lifestyle.
If the house is big, potential buyers can find it hard to imagine what they would do with all that space and with so many rooms.
By staging the house nicely, you can help potential buyers see what the house could look like when they move in.
You can even stage the house depending on the type of buyers you prefer.
If you prefer someone with a big family to buy your house, you can stage it as a big family would.
You can stage the rooms in an appealing way to kids. You can stage one of the rooms as a playroom. You can add a lot of colored items to make the house seem more kid-friendly.
Other areas of the house to highlight during staging include the living room and the kitchen. You can rent furniture that you can use during staging.
Yes, this is an additional expense on your part, but it’ll be worth it if it means selling the house faster.
Take Beautiful Photos of the House
Having nice photos is crucial when creating a real estate listing for your house.
You’d want to advertise your house with photos that appealingly show the house. You can do this with sufficient lighting and good angles.
You don’t want photos that are dark, blurry, and of sub-par quality.
When taking photos of the house, make sure to do it after cleaning and staging the house. Take more than one photo of each room.
Then frame each shot nicely, and show the areas of the house that you want to highlight.
It’s best to do this between 3:00 and 5:00 pm when natural lighting looks good and isn’t too harsh.
If you don’t know how to take good photos, then it would be best to get a professional to do it. This is another added expense that’s worth it when you want to sell a big house faster.
When Is a House TOO Big for a Quick Sale?
Even though big houses sell slower, this doesn’t mean selling them would be impossible.
You can sell a big house if you know the market well and have a good strategy.
A house can be too big for a quick sale if it has an area of more than 6,000 square feet.
Houses of this size can be considered mansions with 6 to 7 bedrooms, which may be too much for some people and even for large families.
When selling a house like this, you might need the help of a real estate agent with experience in the luxury market.
Please also read our article about the disadvantages of big homes that people don’t realize.
How Long Do Really Big Houses Take to Sell?
Many factors affect how long it takes to sell big houses, plus the whole process of selling a house, including the negotiations, can be tedious, so it’s not surprising to know that big houses do not sell fast.
On average, normal-sized houses usually take 2 to 6 months to sell.
Really big houses can take 4 to 8 months to sell. This timeframe can be longer if there are numerous options on the market.
If you want to sell a big house fast, the best thing you can do is to get the help of an experienced real estate agent that knows the market for big houses quite well.