Profile picture for cubluver8

How to sell a home with a daycare/preschool in the basement

Hi all, looking for some advice.

We are thinking of putting our 1100 sq foot ranch home up for sale.  I operate a 780 sq foot daycare/preschool exclusively in the basement of this home.

 

We had 3 realtors come out to give us a CMA and each one told me I should turn my daycare area into a family room.

But not one of them had any idea on how I was to operate my business while waiting for my house to sell.

 

Anyone have any ideas?  Do you think it really needs to be staged as that?  Do you think buyers can look past that and see the room at all??

Thanks!

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June 02 2008 - US
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Replies (11)

Profile picture for Winifred

How are you going to do showings with the daycare in operation?  If I was a parent of a child in your daycare this would be a concern for me.  I don't think most parents would be okay having strange people traipsing through their daycare.  What are you going to do during naptime when the kids are sleeping and someone wants to view the house?

 

I'm sure there are solutions to all of these questions, but I wanted to point out you might have more to worry about than staging.

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June 02 2008
Profile picture for cubluver8

Well, I honestly wouldn't do showings during the day.  I wouldn't feel comfortable doing that.

I work 7:00 AM until 5:30 PM, no nights/weekends. 

I would assume that's when most people looking at my house would work too.

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June 02 2008
Profile picture for Winifred

Not to be negative, but it is a buyer's market and you are going to seriously hurt yourself if you can't show whenever a buyer wants to look.  We had a lot of buyers look during the day.  We are currently looking to buy and there is a house we are interested in, but the seller has restricted access and we have not been inclined to pursue the house. 

 

It will be interesting to see what other suggestions you get. 

 

 

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June 02 2008

Either way is a gamble:

1. keep day care running, restrict showings, may lose you some buyers. TRY to make up for this by using excellent multiple photos, good descriptions, and a very very very competitive price.

2. close day care, restage basement. If the home doesn't sell for a long time, this will impact you dramatically.

 

You will have to balance the risk/reward of each option realistically to try to choose your optimum course of action.

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June 02 2008
Profile picture for rockinblu

Do you seriously think that the parents won't be looking for a new daycare anyway once your home goes on the market?

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June 02 2008
Profile picture for cubluver8

Well, I can't close my daycare as that is my business and my family depends on it.

 

Rockinblu, I live in a small community and only expect to move 5-10 minutes away.  My current families have already told me they will follow me wherever I go in town.

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June 02 2008
Profile picture for duneen

Step 1: Discuss with parents that you are planning to move and let them know the area(s) you are planning to move to as well as assure them that there will be absolutely no showings during operating hours.

 

Step 2: On one very busy weekend, move daycare stuff out of basement and beg/borrow furniture from relatives/friends. Stage basement as family or media room and take lots of pictures. Blow best one up to poster size and place on easel at entry to basement. Then send furniture back where it came from and put daycare stuff back in. Don't forget to include this picture in the listing.

 

Step 3: Install second lock on front door that has a different key from what will be in the lockbox. Keep the second lock locked during operating hours so there are no surprise visits from realtors. This will also help assure parents that strangers will not be coming in during operating hours.

 

Yes, this will cause some buyers to not come by, but the main issue is not to lose your source of income unless you can absolutely afford to take the hit.

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June 02 2008
Profile picture for rockinblu

cubluver8

 

You must run a terrific daycare for the parents to be that understanding and tolerate the awkwardness of the daycare being transitioned from one location to the another. Do you have your new location already nailed down, and will the daycare there be ready at the time of closing?

 

BTW, GO CARDS!!!

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June 02 2008
Profile picture for cubluver8

Duneen,

Thanks for the all ideas!  Only one problem...My walls are painted sunny yellow on top, grassy green on the bottom and crayon border in between.  So even if I am to stage it, won't it look silly with the paint scheme??? LOL

 

Rockinbu,

Yes, I am a Nationally Accredited chilcare with over 5 years experience and almost finished with my AA in Early Childhood Education.

 

My new location is not nailed down yet because I have to have the set up "just so" for me to move the daycare.   Yes, the daycare would be ready by the time I move.  I can easily set it up in a weekend...it would be set up before my upstairs living spaces!

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June 02 2008

cubluver:

 

I think the issue is settled then! Run the daycare, market your home as best you can around it, and good luck!

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June 02 2008
Profile picture for BtrL8ThnNvr

Maybe you could just tell people that it is a daycare.  Most people will probably understand.  You can let them see it after hours or on the weekends. And you could offer a paint/carpet allowance for the daycare room.  It shouldn't be that big of a deal.   Try to not stress about it.

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June 02 2008
 
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