When it comes time to sell your home, you want it to sell quickly and for the best possible price without the pricey cost of a complete makeover. In such a competitive real estate market, it makes sense to create a perfect first impression on buyers so as to increase the likelihood of selling the home faster and at a higher price. This is where home staging enters the selling process. If you are a first-time home seller, you may be wondering what home staging entails and if the process is actually worth it.
What Is Home Staging?
Home staging is the process of preparing your home so that buyers can see it in its very best light. In other words, it’s a sales technique that sellers employ to make the home appealing to the highest possible number of potential buyers. Home staging involves bringing in furniture, rearranging any existing furniture, adding décor, cleaning and decluttering the space, making minor repairs, and more. The goal of home staging is to appeal to as many potential buyers as possible and sell the home for as much money as possible. If you’re on the fence, let’s look at some of the benefits of home staging that might convince you.
- You’ll Get Higher Offers
Staging your home has the potential to fetch a better sale price. A research study conducted by the National Association of Realtors in 2019 shows that staged homes are sold 6% above the asking price compared to un-staged homes. A cluttered home with bulky and awkward pieces of furniture will certainly turn off buyers and make it hard to imagine themselves living on the property. Decluttering the space, bringing in high-end furniture, and adding décor make the interior appear more luxurious, thereby increasing the perceived value of the house. According to a 2017 study by the National Association of Realtors, 49 percent of buyers say home staging had an effect on their view of a home. Homeowners get a 5-15% return on investment when they invest in professional home staging.
- It Helps You Sell the Property Faster
Every seller’s and realtor’s goal is to sell the property as quickly as possible and for the highest possible price. The last thing you want as a seller or realtor is to find yourself sitting on a stale listing. A stale listing can become extremely difficult to sell, as it raises suspicions among the buyers. This is where home staging comes in handy. According to home staging statistics from a survey of 900 top real estate agents, 83% of the agents found out that a staged home sells faster than an un-staged home. Another study conducted by the Real Estate Staging Association shows that staged homes spend 72% less time on the market. When you present a home in its very best light, you’ll have a higher number of potential buyers interested in the property, leading to more offers which enables you to sell it faster.
- Home Staging Impacts the Market Position of a Property
According to a number of realtor surveys, homes that stay on the market for too long end up fetching a much lower sale price. If you don’t stage your home, the property could stay on the market for months, and you’ll be forced to lower your home price. To be on the safe side, invest in home staging and increase your chances of selling your home faster and for a higher price. Home staging makes the home stand out in the market, thereby impacting its market position. Professional home staging statistics show that a 1-3% investment in staging a home can result in an 8-10% return on investment. Although paying upfront for professional home staging services may seem counterintuitive, you’re more likely to make more money by making your home more appealing to potential buyers. So home staging is definitely a smart investment.
- Home Staging Can Increase the Value of Your Home
Staging has the power to highlight your home’s best features and distract buyers from the less desirable ones. Everything from adding furniture to adding décor, changing light fixtures, painting neutral colors, and making minor repairs can make a big difference in your home’s appearance and aesthetic. According to a study done by the National Association of Realtors in 2019, 22% of sellers’ agents and 25% of buyers’ agents reported that staging a home increased the offering price by 1-5% compared to un-staged homes.
Home staging is a worthwhile investment and a cost-effective marketing tool for anyone who’s looking to sell their home as quickly as possible and for a higher price. If you’re looking to put your house on the market, get in touch with a professional home staging company so that you can get the most out of selling your home. If you’re wondering whether your home could benefit from staging, talk to a professional realtor.