Selling a Vacant Home in Toronto: Is It Really That Scary?
For some reason, selling a vacant home in Toronto can feel a bit spooky. And we’re not just talking about the fear of break-ins, squatters, or vandalism (though, yes, those are valid concerns). We’re talking about everything from navigating the vacant home tax to the challenge of selling a completely empty space that feels a little… well, soulless. And let’s not forget the extra effort it takes with staging and marketing.
But don’t worry—we’re here to help make it less daunting. Let’s dive into the key differences between selling a vacant home vs. one that’s still lived in, what to watch out for, and how to get that sale without the stress.
What’s Considered a Vacant Home, Anyway?
Pretty straightforward—a vacant home is just that: empty, no one living there, and barely a sign anyone ever did.
Is Selling a Vacant Home Really That Bad?
Honestly, it depends. Sometimes, it’s not a big deal, but other times it can be a bit of a headache. Here are a few reasons your home might be vacant in the first place and how that impacts the sale:
The Tenants Ghosted: Your investment property is suddenly tenant-free because your renters bolted. Hopefully, you collected the last month’s rent, but if they left behind a disaster, you’re footing the cleanup and repair bill. That delays your listing, and your home may sit longer, leaving you to cover the mortgage solo. Not ideal.
Divorce Drama: When couples separate, it’s not uncommon for both parties to move out. This can actually be a good thing—no awkward “he said, she said” during showings. But if they leave behind a mess or random furniture, it can make staging more complicated (and costly).
New Home Excitement: If you’ve already bought your next home and couldn’t wait to move in, congrats! You’ve got an empty house on your hands. While you’re enjoying your new place, we’ll take care of selling the old one. A vacant home makes for easy showings, and buyers can move in quickly. It’s a win—just keep in mind that carrying two mortgages isn’t fun.
Downsizing for the Win: If you’re downsizing for retirement (or just simplifying life), you might be leaving behind a fully-furnished home you no longer need. Selling a decluttered, vacant home can be a fresh start, but you’ll need to budget for staging to show off that blank canvas.
Vacant vs. Occupied: Which Is Better?
If you’ve already moved out, there are a few perks to selling a vacant home. Here’s what we like about it:
You Can See (and Fix) Everything: When a home is empty, it’s easier to spot those little imperfections that might have gone unnoticed before. Leaky faucets, cracked tiles, wonky light fixtures—fixing these things ahead of time gives buyers the impression of a well-maintained home.
Total Staging Control: Once repairs are done, we can neutralize the home with buyer-friendly paint and decor. This gives us the freedom to highlight your home’s best features without worrying about offending anyone's design taste. And if there are any major eyesores (we're looking at you, ugly bathroom tiles), we can do a quick, budget-friendly makeover.
No Fuss with Furniture: With no furniture to work around, staging is a breeze. We can bring in just the right amount to help buyers visualize the space. Empty rooms can feel cold and confusing, but once they’re styled, buyers will see all the potential.
No Showings Drama: You don’t have to worry about rushing to tidy up before a showing or figuring out where to hide when potential buyers come through. We’ve got full flexibility to schedule showings whenever it’s convenient, and the home stays clean and ready.
The Perks of Selling Vacant
From our perspective, a vacant home offers a few key advantages:
No Hurt Feelings: When a home is lived in, it’s tough for sellers to hear buyers nitpick every little thing. With a vacant home, you’re not there to hear someone trash your beloved curtains. That means fewer emotions at the negotiation table, and we can keep things all business.
It’s Less Awkward: You won’t have to worry about buyers snooping through your stuff or judging your decorating choices. Plus, living in a home after accepting an offer can get awkward—what if something breaks? You’re on the hook for repairs. Moving out takes that stress off the table.
What About That Vacant Home Tax?
Don’t panic. The Vacant Home Tax only applies if your home has been sitting empty for more than six months. If it’s your primary residence, or if it’s been listed for sale, you’re off the hook. Plus, there’s a “vacant new inventory” exemption for homes actively on the market.
Avoiding the Pitfalls of Selling a Vacant Home
There are a few potential risks, but we’ve got solutions for each:
Lowball Offers: Some buyers think a vacant home means you’re desperate to sell. The fix? Hire an agent who knows the market and can price your home strategically. We’ll also stage it so it doesn’t look abandoned.
Unimaginative Buyers: Empty rooms can feel soulless. Staging is key to helping buyers picture themselves in the space. If you don’t want to invest in physical staging, consider virtual staging to give buyers a vision of what the home could be.
Neglected Curb Appeal: Keeping the inside spotless is easy, but the exterior can be trickier if no one’s living there. Make sure someone’s maintaining the yard, clearing snow, and removing flyers from the mailbox.
How to Protect Your Vacant Home
To keep your vacant home secure while it’s on the market, here are a few tips:
Check in weekly to make sure everything is in good shape and the exterior looks maintained.
Keep your home insurance until the sale is final, just in case.
Leave utilities on to avoid any break-ins or burst pipes during the winter.
Use light timers and a smart thermostat to make the home feel lived in.
Stage it properly, so it doesn’t feel empty and cold.
The Bottom Line
Selling a vacant home doesn’t have to be a horror story. With the right staging, maintenance, and strategy, you’ll have no problem attracting buyers. While it may take a little extra effort to keep an eye on the place, not having to deal with daily upkeep for showings can be a big relief. So, if you’ve already moved on, don’t sweat it—we’ve got this!