Staging your home is a smart investment that can pay off in the long run. A well-staged home is more appealing to potential buyers and can help your property sell faster and for a higher price.
First, what exactly is home staging and what does it involve? Home staging involves preparing a property for sale by enhancing its appearance and creating a welcoming environment. This can include small changes such as decluttering, rearranging furniture, and adding decorative touches like artwork, rugs, and pillows. Larger professional home staging services include bringing in furniture and accessories to style your home. The goal of home staging is to neutralize the home, showcase the property's best features and help potential buyers imagine themselves living in the space.
So, what are the benefits of home staging? First, staged homes sell faster than non-staged homes. According to the National Association of Realtors (NARS), nearly half half of sellers’ agents (48%) reported that home staging decreased a property’s time on the market. This means that you'll spend less time and money on holding costs like mortgage payments, utilities, and taxes.
Secondly, staged homes typically sell for a higher price than non-staged homes. According to the same report, both buyers' and sellers' agents, one in five (20%) said home staging increased the offer price by between 1% and 5% compared to similar homes on the market that weren't staged. This means that you'll recoup your investment in staging and make a higher profit on the sale of your property.
Now, let's talk about the return on investment (ROI) from using staging services. The cost of home staging can vary depending on the size and condition of the property, as well as the level of service you require. Some home stagers offer a consultation service where they provide advice and recommendations for staging your home, while others offer a full-service package where they handle everything from decluttering to furniture rental.
While the cost of staging services may seem like an expense, it's important to remember that it's an investment in the sale of your property. The return on investment from using staging services can vary depending on the local real estate market and the condition of your property, but it's typically between 1% and 10% of the sale price. This means that if you spend $5,000 on staging your home, you could see a return of between $50,000 and $500,000 on the sale of your property. Now that’s a serious return on investment! AND it’s a win-win for sellers and their agents! Take this visual for instance:
Whether you decide to invest in a home staging consultation or full-service staging, it’s money worth spending. By showcasing your property's best features and creating a welcoming environment, you'll attract more potential buyers and increase the likelihood of a quick and profitable sale. Isn’t that what we all want?