When it comes to selling a home, first impressions are crucial. It should go without saying that a well-staged home can help prospective buyers visualize themselves living there which can significantly impact its selling potential.
Home staging involves preparing and presenting a home in the best possible light to attract buyers. In this blog, we’ll explore the value of home staging and how it can increase perceived value, enhance a home’s appeal, and minimize the selling time.
What is Home Staging?
Home staging is a marketing strategy used by sellers to improve the aesthetics of the property and create an emotional connection with the buyer. It’s adding and rearranging decor and furniture and doing whatever is necessary to dress up a home so it sells quickly and for the highest possible profit.
Home design and staging is one important aspect of selling a property as it encourages buyers to make quicker judgments and high offers based on the home’s move-in-ready appearance. Besides looking great in person, a staged home looks appealing in photographs which attracts buyers to see the property. Staging a home for sale, with 96% of buyers starting their home search online, is a great way to bring in high traffic to open houses, creating competitive offers and increased interest.
The Cost of Home Staging
The cost of home staging varies depending on several factors, such as the level of service required, the location, the size of the home, and whether it’s occupied or vacant. According to HomeAdvisor, home staging costs between $784 and $2,812, with an average cost of $1,770.
If you are staging the home yourself, consider the costs of cleaning and repair supplies, paint, storage options, decor, and new furniture.
How the Staging Process Works
#1 Consultation: A professional stager will visit your home to evaluate its weaknesses and strengths and determine what should be done before taking listing photos and showing the property to potential buyers.
#2 Planning and preparation: This involves creating a staging plan which may include tasks such as decluttering, repainting walls, improving landscapes, and depersonalizing the space.
#3 Arranging furniture and decor: Staging professionals may remove or add furniture and decor, rearrange existing furniture, and make other changes to create a more neutral, modern, and aspirational environment that allows buyers to envision themselves in that very home.
#4 Staging day: This is when the actual staging takes place, with the staging team implementing the plan and making the necessary changes to the home’s appearance.
#5 Marketing: Once the staging is complete, the home is ready to be photographed and shown to potential buyers. The staging helps create attractive listing photos and positive first impressions for buyers during showings.
#6 De-staging: After the home is sold and contingencies are removed, the staging team will schedule a date for de-staging. They will pack up and remove the staged furniture and decor, returning the home to its original state.
Benefits of Home Staging
It makes complete sense for sellers to invest in home staging when there is so much to gain. As a seller, you want any potential buyer to fall in love with your home. Here are several advantages of staging a home:
#1 Faster Sale
According to IAHSP, houses that are staged sell 5-11 times faster than average-priced houses that are not staged. 21% of sellers’ agents stated that staging a home greatly decreased the time the home was on the market.
#2 Higher Offers
Based on NAR’s 2023 Profile of Home Staging, 20% of both sellers’ and buyers’ agents reported an increase of 1% to 5% of the dollar value offered by buyers compared to similar homes on the market that were not staged. On top of that, once potential buyers get emotionally attached to your home thanks to a well-staged space, you’ll receive the offers and can sit back and relax as they outbid each other.
#3 Improved Buyer Connections
Before making the decision to purchase, buyers want to envision themselves living in that space. Staging allows buyers to form an emotional connection by evoking an inviting and warm atmosphere that resonates with them. 81% of buyers’ agents cited that staging a home made it easier for buyers to visualize the property as their future home.
#4 Increase Perceived Value
Through strategic planning, you can foster a sense of quality and luxury which leads buyers to see the home as something with higher value compared to other listings on the market. Home staging creates positive and impactful impressions by downplaying any drawbacks and highlighting the best features of your home.
#5 Make Your Listing Pop
With so many options and since looking online is the initial step in finding the perfect home, narrowing down the buyer’s options is vital. Simply put, a well-staged property will definitely stand out among the competition and look better in person and in photos. Experts will assist in creating an inviting, warm environment that inspires a desire to visit and see the home for themselves.
#6 Higher ROI
You want the highest return possible on your investment when selling a property, and home staging offers that chance. When homeowners choose to professionally stage their property before selling it on the market, they see a 5% to 15% return on investment.
Sellers can rest easy knowing that they’ve done their utmost to get the best offer in the shortest amount of time. Staging almost always brings in more money than it costs, making it a worthwhile investment for sellers, especially in competitive markets where buyers are looking for properties that stand out and offer an aspirational lifestyle.
Essential Home Staging Tips
If you’re not sure where to start, here are my general recommendations that will make your home more sellable under any circumstances.
- Focus your effort on the rooms that have the biggest potential to influence the buyer’s decisions. These are the living room, primary bedroom, kitchen, and dining room.
- Clean every square inch of your home, from the corners of your ceilings to the baseboards and everything in between. A squeaky clean property shows that it has been well-maintained. Get rid of any clutter and stay with the basics to make the home look bigger and more desirable.
- Depersonalize the space and start with a blank canvas. You want the home to have charm and style, but without personal touches that suggest it belongs to the seller rather than the buyer.
- Staging is a good time to patch and repair any scratches, holes, nicks, and other imperfections that will signal neglect to prospective buyers. You can also add a few healthy flowers and plants to add freshness and life to the space.
- Dark spaces are depressing. Allow as much light as possible to enter the house to brighten it up and make your home more welcoming. Open the blinds on all of the windows and turn on all of the lights for showings.
- Put away any oversized or damaged furniture. Rearrange what’s left to make the room feel and look as spacious as possible.
- One of the best things you can do when staging your home is paint over any garish colors with neutrals like taupe, gray, and white. Bright and bold colors can express personality and distract buyers from the assets of the room.
- Don’t ever forget your curb appeal. The first thing a buyer is going to see is the exterior and the entryway so they need to make a good first impression.
Now that you have an idea of the value of home staging, there are a few things you can do to ensure that you have the best experience possible with the most profitable outcome. First, you should consider your budget and then work with a professional stager to achieve your goals.
I also highly recommend working with your real estate agent to determine whether staging is important for your home and to what degree. If you have any questions or inquiries, feel free to get in touch or leave your comment down below. Your successful home sale starts here!