Is Home Staging Worth It?
In short…yes. Home staging is worth the initial investment as it results in the property being sold much faster and for more money.
The longer a home is spent on the market, the value of the home begins to decrease, $1,000 per day according to a recent report. This means much less profit. According to Home Advisor, a staged home typically will spend between 33%-50% less time on the market, and may sell for up to 20% more than a comparable home that is not staged!
Let’s think about it…
An un-staged home may sit on the market for 45 days and sell for $700,000. A similar staged home will likely sell within the first 3 weeks and for 20% more. That’s an extra $140,000!
Ok, so it’s worth it. But what really is home staging?
Home staging is setting up a home in preparation for it to be listed on the real estate market, to appeal to the highest number of buyers, therefore selling the home faster and for the highest profit.
Professional home stagers use specific design themes and techniques to entice a large range of potential buyers. They work on emphasizing the beauty and the character of the space and downplay any disadvantages that may exist.
Essentially this means designing a space where buyers can envision themselves in the home, helping them create the emotional connection which in turn, encourages them to make the offer.
What’s the downside?
Home staging requires an upfront investment, and typically the fees are on a monthly or bi-weekly basis, depending on the staging company. Sellers may also incur storage fees if they need to rent space to store their belongings while the home is on the market.
Although the initial investment to stage your home may seem significant, the return on that investment is substantial. With current market conditions, a property needs to stand out from the rest and make an impactful first impression.
Without that, a seller needs to be prepared to drop the price, and likely the first drop will be exponentially greater than the cost of staging.
Why not protect the value of the home and maximize your profit on the sale?
Want to learn more? Contact us.