Telling Your Neighbors You're Selling Your Home: Pros and Cons
Telling Your Neighbors You're Selling Your Home: Pros and Cons
: When you've made the decision to sell your home, one of the first questions you'll need to answer is whether or not you should tell your neighbors. There are both pros and cons to letting your neighbors know that you're selling, which we'll explore in more detail below.
Pros of Telling Your Neighbors You're Selling Your Home
1. You May Be able to Get a Higher Sales Price
If your neighbors love where they live, they may be willing to pay a bit more for your home since they know that it will likely stay in good condition after you sell it. This is especially true if you've been a good neighbor yourself and have helped keep up the appearance of the neighborhood (mowing your lawn regularly, shoveling your sidewalk in the winter, etc.).
2. They May Be Willing to Help You Show Your Home
Your neighbors may be willing to help you show your home to prospective buyers, which can be a big help if you work full-time or have young children at home. Not only will this take some of the pressure off of you, but it will also give potential buyers a chance to get an honest overview of the neighborhood from someone who lives there.
3. You Won't Have to Worry About Them Being Surprised by Construction
If you opt not to tell your neighbors that you're selling, they may be surprised and even alarmed when they see people coming and going from your property during normal business hours. If you let them know in advance that you'll be having open houses and that there may be strangers on your property at times, they'll likely be more understanding and even helpful.
Cons of Telling Your Neighbors You're Selling Your Home
1. They May Try to Lowball You
If any of your neighbors have been hoping to buy your home for themselves someday, they may try to take advantage of the fact that you're selling by offering you a low price for the property. In some cases, this can lead to hard feelings among neighbors even if you don't end up selling to them.
2. They Might Start Complaining More
Some people are just naturally complainers and might use the fact that you're trying to sell your home as an excuse to start nitpicking everything about your property (and perhaps even neighboring properties). If you already have a neighbor like this, it's probably best not to give them any additional ammunition by telling them that you're planning to sell.
3. You Could Get Stuck Showing Your Home at Inconvenient Times
If word gets out that you're selling without your knowledge or consent, prospective buyers may start showing up at all hours without making an appointment first. This can obviously be very disruptive (not to mention dangerous), so it's something you'll want to avoid if possible.
While there are some potential drawbacks, overall we think the pros outweigh the cons when it comes to letting your neighbors know that you're selling your home. At the end of the day, it's really up to personal preference though; if you feel strongly one way or another, go with your gut!