Home staging is gaining popularity in today’s competitive real estate market. This marketing technique aims at creating a specific impression of a space in order to make it as appealing as possible to most potential buyers. The goal of home staging is to sell a property faster and for as much money as possible. However, staging a home comes at a cost, and you might be wondering whether the process is worth it for your next home sale.
If you’re on the fence about staging your home, you’ve come to the right place. In this article, we will discuss what home staging entails, the benefits of professional home staging, and the cost of home staging. Read on to decide whether the process is a worthwhile investment.
What Is Home Staging?
Staging a home means preparing the home with the intent to showcase it for sale. It involves adding or rearranging furniture, removing furniture, decluttering the space, adding décor strategically, cleaning, making rooms appear spacious and luxurious, and making some cosmetic changes. Home staging allows potential buyers to envision themselves living in the space and creates a perfect first impression. This marketing strategy is a sure way to increase the price of property while minimizing the selling time. There are several ways to stage a home, from DIY staging to virtue home staging and hiring a professional staging company.
If you’re asking yourself, “Is home staging worth it?” the short answer is YES. Professional staging makes a big difference when selling your home, as it increases the chances of selling a home faster and for as much money as possible.
- Staged Homes Sell for More
This is probably the most compelling reason to invest in professional home staging. When a home on the market looks clean, well-organized, spacious, and luxurious, you’ll receive many offers from buyers, and you can sit back and relax as they outbid each other. A study by the National Association of Realtors shows that home staging has an effect on most buyers’ view of a home. Another study by the National Association of Realtors in 2019 shows that staging a home on sale increases the dollar value offer between 1% and 5%. Five percent may seem like an insignificant value, until you realize that 5% of a $600,000 sale price is $30,000. When you crunch the numbers, you’ll realize that home staging is absolutely worth it.
- First Impressions Count
You’ve probably heard the expression, “You never get a second chance to make a first impression.” The same principle applies when it comes to showcasing your home for sale. The average home buyer gets their first impression of your home within the first 8 to 12 seconds. This means that staging your home can mean the difference between attracting prospective buyers and scaring them away.
- Sell the Property Faster
In addition to the potential for a better sale price, staging your home can shorten the length of time your home is on the market. A number of realtor studies have shown that an un-staged home is more likely to stay on the market for more than 160 days. On the other hand, staged homes spend an average of 25 days on the market, though the numbers may fluctuate based on your individual market. Typically, buyers are more likely to make a quick offer on a home that creates a perfect first impression. Besides, a home that stays on the market for a long time without offers could see a drastic drop in sale price.
- Helps Potential Buyers Visualize Themselves in Your Space
According to home staging statistics, 83 percent of buyers’ agents say that staging a home makes it easier for a prospective buyer to visualize a house as their future home. When you stage a home for sale, you’re essentially removing yourself from the home and allowing prospective buyers to visualize themselves in it. For most home buyers, it’s nearly impossible to visualize a potential home from an empty space. This means if you put a house on the market with no furniture, décor, or styling, you’ll lose the attention of the majority of potential buyers.
How Much Does Home Staging Cost?
According to data from HomeAdvisor, many home sellers pay between $752 and $2,848 to have their homes professionally staged. However, the price tag can vary widely depending on factors such as the location of the home, the size of the home, the cost of furniture rentals, and how long it needs to be staged. If you’re working on a tight budget, it’s a good idea to consult with a professional home stager on how you can have your home staged on a tight budget.
Bottom Line
Is home staging worth it? Absolutely! Whether you opt for virtual staging or traditional home staging, this marketing strategy can result in faster sales and a higher sale price.
