House hunters are increasingly asking to stay overnight at a property before making an offer on their dream home.
Eric Albert, a seller, recently hosted a couple who requested an extended stay at his estate to ensure the home was comfortable and suited their needs.
‘Houses are a huge expenditure. For $60 million, you should try it before you buy it. It’s a smart thing to do,’ Albert told the Wall Street Journal.
The overseas couple agreed to a two-month stay for $250,000 a month, which included furniture, staff and cars.
They later made an offer on the house, but it was rejected for being below the asking price. The couple still paid Albert a ‘nice price’ for their stay.
With the housing market shaken by inflation and fears of recession, home prices have fallen in half of the nation’s largest markets, leaving buyers cautious a potential housing crash.
Fully furnished homes and oceanfront properties have become especially popular for these extended trials.
Overnight stays are a test many sellers quickly agree to, boosting their chances of a sale.
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Author: Ray Hilbrich
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