I recently purchased a single-family house for my primary residence, with closing scheduled for the end of June. The seller will stay in the house until July 5, and I plan to move in on July 7.
I currently live in a townhouse that I own, and I plan to rent it out after I move ti my new house. The townhouse needs some cosmetic work (mainly interior painting and touch-ups), and I’m trying to figure out the best timing for the repairs and listing to minimize vacancy.
My question is:
Should I start the repairs and list the townhouse for rent while I’m still living in it? Or should I wait until I move out in July, complete the repairs, and then list it?
My problem with the first option is that we are a big family of 4 adults and 4 kids and maybe challenging to do the repairs while we still live. And my concern with the second option is a long vacancy. Any suggestions based on your experience?
I would do the repairs now but wait to list for rent. I know you have a family but do a room at a time. You have to anyways pack so I would pack/repair room by room.
I would do the repairs now but wait to list for rent. I know you have a family but do a room at a time. You have to anyways pack so I would pack/repair room by room.
We show houses all the time before the old tenant moves out. We let them know what we will be doing to fix it up. That said these are not remodel situations just paint and flooring repairs for the most part.
For my personal homes I have always moved out and completed upgrades prior to putting it on the market for rent or sale. It isn't worth the inconvenience and I'm also not a fan of showing a place that isn't in the condition they will be receiving.
Having a larger household can make coordinating a showing logistically challenging, so I would agree that moving out beforehand is the best approach! When I rented out my primary space, I followed a similar process - completed repairs, moved out, hired professional cleaners, had listing photos taken, and then listed the unit for rent. I also think a vacant space gives renters a better idea to visualize how they would make the space work for them.