Home Staging is the process of preparing your home for sale in such a way that it generates more interest, sells more quickly, and at a higher price. Home staging is key.
Buyers will almost always choose a home with more space and amenities, all else being equal. While staging may seem like common sense, it is actually about being objecting – being able to see your home through the eyes of prospective buyers and making changes necessary to persuade them to purchase it. Research done on the value of staging consistently shows that staged homes sell faster and for more money than unstaged homes. Staging should be done before getting an appraisal, before taking photographs, and before showing anyone else the property. If you stage your home after it has already been on the market, then you definitely need updated photos.
Study your competition – other homes in your area – to help you decide what to change about your home to make it more appealing than others on the market. Research the internet, talk to neighbors and your real estate agent to learn more about homes in your area that would be competing with yours on the market. Find out how your home stacks up – is it a good value for the money, or below average? Study decorating magazines like Better Homes and Gardens to learn what is currently stylish. Use these rooms for inspiration to model your rooms after the streamlined, clean looks the magazine photos show. Ask a friend who doesn’t spend much time at your home to give it a sniff test – literally – telling you honestly of any odors they smell. Every home has a scent, but unless you get the help of someone who doesn’t live in yours, you’ll never know whether it’s a deterrent to someone buying it. Decide which projects will generate the most bang for your buck by prioritizing. Staging costs money, even if you do all the minor repair work yourself – there are accessories you’ll need to purchase and materials aren’t free. Refer back to those photos you took of your home to help you prioritize the staging process.
Research has shown that the longer your home is on the market, the further the sales price drops below the asking price. This should be a major incentive to invest in staging up front. The idea is to get it on the market and sell it quickly, for a higher price. A very basic guideline of what you should expect to spend on staging is 1 to 2 percent of your asking price, which frequently nets between an 8 and 10 percent return.