Is Home Staging Worth Paying for When Selling?
The additional cost to prep your home may pay off in time on the market and final sale price.
From home maintenance to getting the lighting right, staging can help your home sell faster and for a higher price.(iStockPhoto)
Sell quickly and make more money.
Those are two very important benefits that outweigh the initial investment of home staging, but those are not the only benefits when preparing a home for sale. Let’s take a deeper look into why so many sellers and real estate agents are turning to home staging before putting a “For Sale” sign on the property. Here are four notable home staging benefits to consider.
Supplying a Move-In Ready Home
Many of today’s buyers are looking for specific homes that won’t necessarily require a ton of work before moving in, because honestly, who has the time to gut and renovate? Hence, buyers want move-in ready spaces they can enjoy instantaneously.
According to a Maritz Research Staging poll, 63 percent of buyers are willing to pay more for move-in ready homes. So why not get your home ready for its new owner? Home staging concepts can show sellers how to prepare and showcase their homes for sale so that buyers are able to move right in.
Stand Out Among Neighborhood Competitors
While the market isn’t as competitive as in years past, homeowners still find themselves up against neighboring homes on the market, including new construction. How will you differentiate a home from those other homes for sale?
One way is to stage the space by playing on emotional connection points that will appeal to buyers and stand out in their minds when it’s time to make an offer.
Consider this, if two identical homes were for sale on the same block at the same price, but one homeowner staged their space to showcase the potential lifestyle the buyer could have if they moved here, and the other home looked dirty, cluttered and poorly maintained, which home would the buyer choose? The Real Estate Staging Association National Statistics Report found, when staged first, the vast majority of homes spend less time on the market.
Staged Homes Are Easier to Market
Once a home is staged, the space will look like a cover spread in a home magazine, so why not take advantage of the light, spacious, well-designed space created and photograph each room with a wide-angle lens to market the home. Over 90 percent of homebuyers start their search online, and photos of newly staged homes will not only attract buyers to information about the home, but to the front door.
Here’s proof: How are you currently searching for a new home? Do photos determine your perception of the home? Would you go visit a home that had no pictures listed or had clutter center stage? Photos are just one way to easily market a home. With a staging plan in place, a seller will also have systems to keep the home looking like those online snapshots.
Increase Offers and Price
Home staging often requires that some minor repairs be made to the space, which can prevent buyers from making low-ball offers because of the work involved to improve the home. Whenever a seller makes strategic repairs or updates to a home, they’re adding value that could be tacked onto the overall sales price. A staged home creates more buyer interest, and with more interest comes more offers, so as a seller you could even find yourself in a bidding war.
Can you imagine making a goal to sell your home a reality that reaps these benefits? Selling a home is no easy task. In a perfect world a homeowner wouldn’t need to be living in the home while on the market. However, the list of reasons why someone sells is endless and in many cases forces a homeowner to stay put when selling.
The experience can be grueling for sellers when personal lives become public displays to strangers and their criticisms. If the seller is going to be living in the home when selling they have to willingly be inconvenienced—not only emotionally, but physically. So what’s the best way to get out from under the microscope? Sell fast with home staging.
[See: 10 Tips to Sell Your Home Fast.]
Seems simple, but those who have been on the market already for months with no buyer leads can testify that many factors play a role in the final sale. The home has to be researched and priced right, it needs a great marketing strategy and the home has to entice buyer demands.
Whether new to the selling process or the home is already listed on the market, it’s never too late to prepare and showcase the home properly for sale.