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Are You Paying the “Home Move Tax?”

For most homeowners, selling a home feels less like a straightforward transaction and more like taking on a second job....

  • William Burton
  • September 9th, 2024
  • 3 min read
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For most homeowners, selling a home feels less like a straightforward transaction and more like taking on a second job. A job that doesn’t just demand your money but also your most precious resource: time. In fact, according to recent data, selling a home can consume over a third of your waking hours, turning your life upside down. 

 

So, if you’re wondering how to sell a home without sacrificing your personal time (or sanity), keep reading. 

The "Home Move Tax" 

We all know time is valuable. Between work, family, and personal commitments, there aren't enough hours in the day. Opendoor surveyed 1,000 recent home buyers and sellers to understand the true cost of time—of “Home Move Tax”—lost during the traditional real estate process. Here's what they found:

  • 71% of Americans say selling a home feels like a second job. This isn't surprising considering everything involved, from cleaning and staging to repairs and showings.
  • Employed buyers and sellers are losing PTO and work time. The report estimates that Americans lose over $430 million in missed work time just preparing their homes to sell.
  • Quiet moving is on the rise. 13% of respondents admitted to taking time off work, without their employer knowing, to deal with moving tasks.

Selling a home can also take a toll on your well-being, with 85% of sellers reporting they lost sleep worrying about the sale. Here’s what kept them up at night:

  • Offer falling through: 41%
  • Saying “bye” to my home: 37%
  • Offer acceptance: 36%
  • Home prep for listing: 36%
  • Leaving memories behind: 32%
  • Managing repairs: 32%

How to Save Time (and Stress) 

Every moment you spend on the home-selling process is a moment you could be spending elsewhere—on your career, with your family, or just taking a breather in a world that already feels too fast-paced. Recognizing the hidden time costs of selling your home allows you to make more informed decisions. 

 

And that’s why working with the right real estate professional is so important. Think of them as your project manager, advocate, and guide rolled into one. They handle the heavy lifting—from setting a competitive price and staging your home to coordinating showings, managing negotiations, and navigating the mountain of paperwork.

 

When you hire me as your agent, some of my unique services to reduce your stress include a weekly communication guarantee, and an extensive digital marketing campaign designed to sell your home in the most ideal time frame for you and your family. 

 

But beyond these tangible tasks, real estate professionals offer something even more valuable: peace of mind. By tapping into local market knowledge, extensive networks, and experience, they can streamline the entire process, helping you avoid common pitfalls that consume time and energy. This means fewer sleepless nights worrying about the next step, and more time for what matters. 

Curious about your home's value and what's happening in your neighborhood?

Get in touch. National numbers are a great measuring stick to see how the overall economy and housing market are doing, but they don’t account for local home values and your personal financial situation.

Let's Go

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About the author

William Burton

William Burton is your dedicated partner for all your real estate endeavors in the Charleston area. With a focus on buying, selling, and investing, he navigates the competitive market with expertise and commitment. William goes beyond traditional services, providing top-tier video and digital marketing expertise for seller clients. For buyer clients, William specializes in finding off-market opportunities and other innovative solutions to help buyers succeed in today’s low inventory market. His data-savvy approach ensures clients receive the most up-to-date and relevant market and neighborhood information, empowering them to make informed decisions for themselves and their families. Whether you're a local or relocating, William ensures smooth transactions, providing exceptional service and personalized guidance at every step. Beyond real estate, William enjoys life in Mount Pleasant with his wife Lauren, son George, and their two dogs Scout and Millie.

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