Selling your home fast for the highest price possible. Would home staging let you accomplish those goals?
Why Stage Your Home?
There are many reasons to stage your home. One of the most important things staging accomplishes is that it shifts the focus away from the personal belongings that are in the house to the most positive features of the home itself.
Imagine a Calgary home for sale that has a pool table in the living room. The family currently living in the home use the table a lot. Overlooked is the fact that there is limited seating in the living room because playing pool is an activity the family uses to bring them all together.
When that home goes on the market, and a potential buyer walks into the living room, what would you imagine would be their first reaction? Could it be something like “How would our furniture fit in this living room?”
Even without a pool table, it’s often very difficult for many people to look beyond the personal contents of a home to see the potential for moving their family into it. When you stage your home, one of the goals is to “de-personalize” your living spaces to give a potential buyer the opportunity to think about how they will use the home.
Home Staging: The Numbers Prove It Is Your Best Choice
According to the International Association of Home Staging Professionals and Stagedhomes.com, on average, 95% of staged homes sell in 23 days or less. Statistics also show that home staging can increase a property’s value by 5-11% (RESA – Real Estate Staging Association), and that a home’s price is typically reduced by 1% for every month the home remains on the market (Zillow). Using round numbers, let’s say a home was listed at $500,000 and took 4 months to sell. The typical price reduction might be $20,000 or more for an unstaged home and a longer selling period versus a possible 5% increase in property value for a staged home which sells much faster. Moreover, the cost of maintaining an unstaged home on the market for longer may also be considerable if one factors in property taxes, mortgage payments, condo fees, etc.
Then you need to account for the fact that the longer the house is on the market, the harder it is to negotiate a selling price closer to listed price as buyers and their Agents will want to negotiate a much lower price so will often start lower than they normally would have for a home that was just newly listed. All this boils down to one fact: when a home doesn’t appear welcoming to buyers, it often sits on the market and goes through multiple price reductions.
As a seller, you have many choices available to maximize selling price, minimize selling time, and experience a more positive selling experience before you list your home so it’s important to consult with an experienced REALTOR® to explore the options available to you. If you want to stage your home before it goes on the market to maximize selling price, your REALTOR® can recommend a home-stager for a complimentary consult. Some home-staging companies also have contractors available if your home needs some repairs or a quick paint job so that’s a huge benefit if you are too busy to coordinate all of this yourself.
Once you understand how beneficial staging is when you’re selling a home, you’ll find that home staging doesn’t have to be time-consuming or costly.
Look for the second blog next week about home staging – learn how to do your own home staging to maximize selling price. Our Feng Shui articles will also give you helpful tips in preparing your home for sale.