Tips for Pricing Furniture When You Sell a House
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Moving is a stressful task that most people dread. If you choose to handle the logistics yourself, you’ll have to worry about lifting heavy items, taking time off from work, and just over-exerting yourself. On the other hand, if you hire movers, you’ll pay lots of money and you’ll have to worry about things being packed efficiently.
Regardless of if you DIY your move or hire professionals, a great way to simplify your move and even make some money is to sell your furniture rather than bring it to your new home. If your new home is significantly different from your current home, starting fresh with home furnishings means you can tailor everything to fit your new space. Here are a few tips to help you effectively price furniture when you sell your home.
Research your furniture’s value
The first step to determining the value of your furniture is to consider the item’s age, condition, and style. If you have high-end furniture that aligns with modern trends and is built to stand the test of time, you’ll be able to charge more than if you’re trying to offload a stained lounge chair from IKEA.
Since furniture depreciates like vehicles, you should generally expect to only receive at most 50% of what you originally paid for the furniture. One of the easiest ways to research furniture prices is to look at what has been selling on online marketplaces such as Craigslist or eBay. You can even check Nextdoor or Facebook Marketplace.
If you own vintage or antique furniture you may want to get information from specialty databases such as Ruby Lane, Worthpoint, or Kovels. You may even want to hire a professional furniture appraiser if you have pieces that are rare and high-value.
Make a combined sale if you can
As you sell your furniture, it’s essential to view the transaction from the buyer’s perspective. For example, if a buyer is looking to purchase a home that’s already furnished and your furnishings already match the decor, you may be able to charge a premium for the entire collection as opposed to selling individual pieces for a discount. On the other hand, if the buyer has differing tastes, you’ll have to go in a different direction.
If you choose to sell your furniture with your home—a great way to sell your home fast—it’s important to know that most homeowners will list the furniture value as $0 on the purchase agreement. A real estate agent can provide you with the exact specifics on if it does or doesn’t make sense for your sale. This is done because itemizing the furniture value separately from the home’s value can negatively impact the buyer’s ability to finance the transaction.
Keep the furniture if it makes sense
Although selling your furniture can make your move less stressful, recent supply chain challenges have shown that you can’t always count on delivery estimates to be accurate. Even if you have new furniture on order, if it’s being shipped long distances, you might want to hang on to your furnishings and sell later.
