In today’s fast-paced world, where time is often in short supply, moving can be a real drain on your resources—not just financially, but in terms of time, energy, and mental well-being. Opendoor recently surveyed 1,000 recent home buyers and sellers to capture the true cost of time in the traditional real estate process, often referred to as the "Home Move Tax." Here’s what they uncovered:
The True Cost of Time When Selling a Home
Selling a home can feel like a second job. According to Opendoor's findings:
- 71% of Americans say that selling a home feels like a second job. Think about it—prepping your home for sale means taking care of repairs, cleaning, staging, and keeping the property in show-ready condition, all while managing regular life responsibilities.
- Lost Time from Work: Employed buyers and sellers are losing valuable Paid Time Off (PTO) and work hours. In fact, Americans lose over $430 million in missed work time simply preparing their homes for the market.
- "Quiet Moving": 13% of respondents admitted to taking time off work, without informing their employers, to manage moving tasks.
The Emotional Toll of Selling a Home
Moving isn’t just physically exhausting; it takes a toll on mental health too. In the survey, 85% of sellers reported losing sleep while selling their homes, with major concerns including:
- Offer Falling Through: 41% worry about their offers not making it to closing.
- Saying Goodbye to Their Home: 37% find it hard to let go of their home, which holds countless memories.
- Offer Acceptance and Home Prep: 36% stress about accepting the right offer and preparing their home for showings.
- Leaving Memories Behind: 32% feel the weight of leaving behind a place full of cherished moments.
- Managing Repairs: 32% are burdened by coordinating last-minute repairs.
How to Save Time (and Reduce Stress)
Every hour spent on home-selling tasks is an hour lost from other priorities—work, family, or simply resting. Here are some ways to lighten the load:
Partner with a Real Estate Professional at Encore Realty
A skilled real estate agent is more than just a guide; they’re your advocate and project manager, streamlining the home-selling process and saving you time and stress. Here’s what a professional from Encore Realty can offer:
- Market Expertise: Knowledge of the local market allows your agent to set a competitive price, attract the right buyers, and ensure your home sells quickly.
- Network of Professionals: Real estate agents connect you with trusted roofers, attorneys, electricians, and other service providers to tackle repairs and legal paperwork efficiently.
- Handling the Details: From staging and setting the right price to negotiating offers and handling the paperwork, a professional takes on the heavy lifting, so you don’t have to.
Avoid Common Pitfalls
Working with a knowledgeable real estate agent reduces the likelihood of common missteps, giving you peace of mind that your home sale is on track. With experience navigating local markets and a network to solve problems before they become headaches, an agent helps you avoid the sleepless nights and unnecessary stress often associated with home sales.
Beyond the Transaction: Peace of Mind
Real estate agents at Encore Realty offer more than transaction assistance—they offer reassurance, confidence, and a sense of calm throughout the entire selling journey. With a professional handling the logistical and emotional hurdles of the process, you gain the freedom to focus on what truly matters.
In Conclusion: Selling a home doesn’t have to feel like a second job. By understanding the hidden costs associated with the "Home Move Tax" and working with a seasoned real estate professional, you can reclaim your time and reduce stress, making your next move a smoother experience. At Encore Realty, we’re here to provide support, solutions, and peace of mind, so you can focus on moving forward with confidence.
