Home Staging Economics 101
A while back, we did a blog about home staging that discussed the "how." Today, we are going to talk about the "why."
Staging a home for sale, whether it be an occupied residence or an empty spec home, accomplishes a couple of goals. First, it makes the home more appealing to shoppers. Let's face it, most buyers lack the imagination to see past your clutter. Plus clutter (or just too much personal stuff) doesn't inspire someone to stay a while and imagine themselves in the space.
Conversely, an empty house challenges people's spacial awareness and makes it more difficult to be able to tell if their desired furniture would fit. The more you help out your buyer (think merchandising), the better.
If you are staging the home yourself, it might be a matter of editing your possessions, clearing out personal items and leaving the essentials. Other than cost of storage and boxes, staging this way is pretty cost effective. If you find it too daunting, you might want to enlist a stager who can offer her assistance and expertise at an hourly rate (typically between $50 and $100 an hour).
From Staci Giordullo on Angie's List:
“The seller has to realize it’s not their house anymore,” says Karen Linder, owner of Karen Linder Interior Designs in Portland, Oregon. “I have to remove their personality from the house so potential buyers can visualize themselves living there.”
Bringing in design elements and furniture to an empty home is another matter. It can be as involved as you like from a little color thrown around to the full lived-in look. Stagers typically charge an hourly rate plus a rental rate. Depending on your region, a fully staged home, can run up to 1% of the asking price. The more expensive your home, the more you will want to spend in staging.
Why incur these costs? The "first impression rule" applies here. 95% buyers these days are shopping online. Photos matter. And let's face it, photos of cluttered homes or vast empty rooms are not a turn on. The rest is math. The more people who like what they see, the better the response.
According to Margaret Heidenry on Realtor.com, staged homes sell for up to 20% more than their unstaged counterparts and are on the market in 88% less time.
Let's be clear. Your home will not sell for more than it's worth, but it will sell for more than it otherwise would. Think of it this way: If a financial planner told you you could realize a 10% net gain by investing 1% of the desired price, wouldn't you take him/her up on that? Real Estate Staging Association has a calculator on their website to help you figure out the return if you have your home staged.
Team Nakanishi is proud to have professional stagers on our team who will get your house ready for its close up before we put your house on the market. It's a part of our normal marketing plan.
Talk to us and find out other ways Team Nakanishi offers you a major advantage in marketing your home.
Cover photo of MLS#618262