In 2018, staging your home is an essential part of the home selling experience. Like applying a face of makeup, it is not a complete overhaul. Likewise, it does not cover up serious issues with the home. It is an on-the-surface solution that will help a home look its best. For a small amount of budget, fill a home with great-looking furniture, well-considered accessories and tasteful art that will appeal to a wide variety of buyers.
Consider these 2017 statistics from the National Association of Realtors:
- 81% of buyers say home staging makes it easier to visualize the property as their future home.
- 45% of buyers say it will positively impact the value of the home if you decorate to the buyer’s tastes.
- Among REALTORS® who represent the buyer, 49% report home staging affected buyers decisions to buy.
House hunters would like to think that they can look past a cluttered home or vacant property and see “potential”, but they rarely can! That’s why builders often use Model Homes decorated in neutral, simple styles. They make it easy for a potential buyer to imagine how they will live in the home.
The housing market is tough these days. People watch so many TV shows that show average homes looking fantastic, thus they expect a certain look to the new home they are searching for. It isn’t the specifications that peak a home searchers interest, it is the aesthetic. If you do not deliver, they move on to the next house with that certain “look”.
If you want to sell your home quick (an impress the buyer), you need to make a great first impression.
The National Association of Realtors (NAR) reports that the longer homes stay on the market, the further their price drops. Once staged, homes spend an average of 73% less time on the market. On top of a speedy sale, you can also ask more for a staged home. According to NAR, buyers are willing to spend 1% to 5% more of the dollar value on a staged home than a non-staged home. Also, staged homes sell for more than 6% above the asking price.
Now that you are sure of the NEED to stage your home, we can dive into the details. There are 5 main types of home staging: Vacant, Occupied, Consultation, Virtual, and Do It Yourself.
Vacant Staging
First, if you have moved out of your home and it is vacant, you will need to stage your home with an entire house of rented furniture. A 2015 RESA report on staging pricing found that a vacant staging is an investment that ranges between $1,995 and $8,500 on average. The price can vary depending on the size, value, and location of the property.
Occupied Staging
Next, if you are still living in your home, you will have three options. The staging professional will stage your home using your own furnishings, supplement your furnishings with extra accessories, or stage your home using rented furniture. The complexity of the staging needed makes the range in price pretty wide with the cost being between $776 and $6,900, per the RESA report.
Walkthrough/Consultation
The third option for staging your home is to get a walkthrough/consultation. The home stager will take notes as they go through each space discussing topics such as what to pack, keep, move, and paint. The cost of the service can range from $200 to $800 depending on location.
Virtual Staging
The fourth option is virtual staging. A photographer will take photos of your clean home and furniture, fixtures, and decor are removed, replaced, or added depending on what needs to be done. The work is all done virtually and is determined based on the price point, style, and location of your home. The service can be prepackaged with already-grouped-together decor options or completely customized by choosing wood type, fabric color, artwork and wall color. The cost of the staging service is based on the level of customization and is charged per photo. The average cost is between $50 to $125 per photo.
Do It Yourself Staging
Finally, The last option is to stage your home by yourself. The cost is much less and when done can be a money saver. The downside, of course, is the time commitment and finished product can be unpredictable. For a few tips on staging your own home, read HERE.