One of the trickiest questions when looking for a new property is whether to choose a furnished or unfurnished home. As there is no clear answer as to which of the two options is the better choice, in this article we will present their advantages and disadvantages to help you make your decision.
Option 1: Purchase of a furnished home
If your home is not a completely new build, you may often come across an offer for a furnished or semi-furnished property. Here's what you need to know:
Advantages
You save money
Of course, this is the biggest advantage when you are buying a property and looking for opportunities to save some of the initial outlay. In most cases, you will probably only need to purchase a minimal amount of furniture or household appliances, immediately after which you can move in.
See also: How to save money when changing home
You save time
A furnished property is also often in good condition, which means fewer hassles and arguments with handymen or the need for repairs on your part. It will also save you time searching for the right furniture, as well as having it made and delivered.
You move in immediately
This is a great advantage when you are pressed for time or when you want to start using the home immediately after acquiring ownership. Even if you are buying the property as an investment and plan to rent it out, with a furnished home, that investment will start paying off right away.
You don't think about interior design
Someone has already taken care of the choice and arrangement of the furniture, as well as the appropriate household appliances, lighting, etc.
You have more choice
The real estate for sale platforms are dominated by listings from private owners compared to those for brand new homes from a builder. In most cases they are offered fully or partly furnished.
Disadvantages
The furniture is not to your taste
You may have found a property with a preferred location and size, but not furnished to your expectations. In this case, you may have to pay a higher amount for furniture and equipment that you may want to replace later.
No room for your furniture
If you're moving from another home and want to take your old furniture, there may not be room for it. This could leave you with difficult choices and additional headaches about how to part with some of them.
Option 2: Purchase of unfurnished property
Many buyers also prefer an option where they acquire a completed but unfurnished property. This is most often the situation with newly built homes or when the seller insists on taking their furnishings when moving out.
Advantages
Lower starting price
If in furnished homes you can save on furnishings, here you can benefit from a lower transaction price on the property. This option would work for you if you plan to acquire the home and gradually purchase furnishings before you move in.
An opportunity to unleash your imagination
You can furnish your home entirely to your taste, either with the help of an interior designer or relying entirely on your imagination. If you have the luxury of time and money, then an unfurnished home is definitely the better choice for you.
You do not use old things
Many buyers avoid using old furniture and belongings that belonged to a previous owner. If you're buying a new home with long-term intentions of living in it, it's a good idea to make sure it's dominated by furnishings you've bought.
Disadvantages
You need to take care of everything
Besides being an advantage, it can also be a disadvantage. Be prepared to invest significant time, resources and nerves until your home is the one you envision.
You don't know where to start
Often, a lack of creative ideas will lead you to consider the lack of furniture in your new home more of a drawback.
What to watch out for
Having furnishings doesn't necessarily mean you'll reap all the advantages we've mentioned. Even if you are buying a fully furnished property, pay attention to:
Furniture
Ensure that the furniture in all rooms is sturdy, free from defects and in overall good condition. If you find a fault, try and negotiate a lower transaction price.
Electrical appliances
Also check for serviceability each of the appliances in the home you are about to acquire.
Furnished or unfurnished rental property?
However, when you have to choose between a furnished or unfurnished rental property, things are different. As renting a home is a shorter-term decision than buying, it is often mostly furnished properties that are sought and offered. The advantages here again relate to greater practicality for tenants, and the disadvantages mostly boil down to the fact that they would rarely use completely new furnishings and equipment, and that they would have to make more compromises. However, a large number of landlords allow their tenants to take care of the furnishings themselves for a corresponding discount on the monthly rent.
In any case, you will get the best idea of the advantages and disadvantages of furnished properties only when you have looked at a sufficient number of offers and inspected selected homes for sale or rent. On the Orb.bg real estate platform without real estate broker you will find a variety of offers that will help you make a decision. We believe that by providing fair terms for sellers and buyers, we are able to provide the best for both parties in property transactions. As we save buyers a significant amount on external agents' commissions, this enables them to make a minimum number of compromises on price and requirements when looking for their new home. As for sellers, they in turn can offer more competitive terms in the market, unmatched by the listings that real estate agencies or real estate brokers publish.
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Photo by Quang Nguyen Vinh