All the work you’re putting in to your home to get it ready for sale is part of what’s called home staging. The goal of home staging is to make a home appealing to the highest number of potential buyers by transforming it into a welcoming, attractive place. The risk of not staging your home is that only about 10% of buyers can see potential value; for everyone else, you need to show them.
Most people think of “home staging” as employing the services of a professional home staging company or an interior decorating consultant. In fact, many owners do hire a consultant to help with the selection and placement of furnishings, lighting, and other decor. Studies show that this is money well spent. If you have completely vacant home, it may be worthwhile to hire a full-fledged staging company that can rent furniture to you on a monthly basis to provide context for the rooms of your house.
Remember, you won’t have to stage every room in the place, so the monthly cost need not be exorbitant. Investing a small amount of money in properly staging your home can provide greater returns in the bottom line of your home’s selling price.
If you are living in your home while it’s on the market, it’s usually a question of removing or re-arranging furniture, and a staging consultant can help you make the best decisions about that. After you’ve staged your home, take a walk through it. Are there things that catch your eye, but add nothing to the room? If so, it’s advisable to put any such items into storage. If these are things you need while living in the home – kitchen appliances, bathroom hair dryers, etc. – make sure they’re kept out of sight, in cabinets or drawers.
Staging by the Numbers
- According to a HomeGain 2012 Survey, de-cluttering and cleaning alone can yield a 403% return on the cost, home staging yields 196% ROI, lightening and brightening yields 299% ROI, and landscaping yields a 215% ROI.
- According to the Real Estate Staging Association, in controlled tests selling identical homes, professionally staged vs. those not staged, the non-staged houses sold in 102 days, while the staged houses sold in 45 days.
- According to the National Association of Realtors (NAR), the average staging investment is between 1 and 3% of the home’s asking price, which generates a return of 8 to 10%.
Investing just a couple of thousand dollars to make your home look its best will give you a huge return on your investment.