How To Stage A House For A Faster Sale At A Higher Price
Value-Added Staging
A study of 4,200 sold homes, conducted by Home Staging Resource (HSR), found that 85% of the staged homes sold for 6% to 25% more than a home that was not staged.
Forbes reports that 95% of staged homes sell in 11 days or less. This is 87% faster when compared to the time it takes, on average, to sell a home that is not staged.
An average home sells for 10% to 20% less than the asking price. It may be even more beneficial to stage a home that would otherwise have to sell as a “fixer-upper.” When listing a home, which is in disrepair, the asking price must be at a steep discount from the market value of a similar home that is in a better condition. This steep discount may be reduced by staging the home properly.
The general rule-of-thumb is that every $100 dollar invested in staging may return up to $400 in a higher sales price.
Staging Priorities
The National Association of REALTORS® published the 2017 Profile of Home Staging, which says the staging priorities are:
Declutter: Decluttering a home creates more open space that makes the home look bigger. Remove at least half of the items in the home and two-thirds of the stuff in the closets. De-personalize the home by removing photos, kid toys, items for pets, etc.
Cleaning: The entire house needs to be immaculately clean, inside and out, to the level of a five-star hotel.
Carpet Cleaning/Replacement: Carpet needs to look and smell like new or it should be replaced.
No Pets or Children: Do not have children or pets in the home, when showing it to potential buyers.
Renovations: Repairs, re-painting, and re-decorating should be done tastefully and by using neutral colors that appeal to most people.
Rooms: Priority staging concentrates on these rooms, in this order: 1) Living Room; 2) Kitchen; 3) Master Bedroom and Bath; and 4) Dining Room.
Vacant Home: A vacant home will probably sell much easier when staged using rented furniture.
Conclusion
Staging a home for sale makes perfect sense and is worth the investment of time, energy, and money. The benefits are that the home usually sells for a better price, probably sells more quickly, and the investment in staging usually makes a profit for the home seller. Your real estate professional is available to offer guidance in selling your home quickly for a great price.
If you are in the market for a new home or interested in refinancing your current property, be sure to consult with your trusted home mortgage professional to discuss current financing options.