How Staging Your Home Pays for Itself
How Staging Your Home Pays For Itself
Having your home staged is the difference of thousands (and sometimes even tens of thousands) of dollars in the final sale price. - Forbes
When thinking about staging, a thought for sellers that comes to mind is, “additional cost”. However, what most sellers don’t realize is that most of the time staging pays for itself and can actually put extra money back into their pocket. With peak buying and selling season upon us I’m here to help explain the benefits of staging, why it’s a no brainer in today’s digital landscape, and three different types to choose from.
Benefits You Can’t Ignore
Faster turnaround time on the market, online presence, and a higher closing price are the main reasons sellers should prioritize staging within their budget.
The National Association of Realtors reported in 2018 that 44% of home buyers looked online first to find houses. In a world where the consumer can shop first online without the initial assistance of a realtor, it’s crucial that homes on the market have a strong online presence - the best way to do that is through great photography and staging. The images below show two similarly priced homes in the same neighborhood. The staged home was under contract in less than 3 weeks, while the other house sat on the market for 4 months.
In addition, Mortgage Insider reports that homes that have been professionally staged usually sell for 3% more than the anticipated price. We’ll get into the different types of staging in the next section, but overall this is money back in your pocket and then some.
Costs and Types of Staging
Now that we’ve gone through the benefits of staging I’m going to introduce the three different types. I believe that one of these three can work within anyone’s budget.
The first and most well-known staging type is Vacant Home Staging. This involves removing all furniture from a home and having a stager furnish every room within the house. While this style is most aesthetically appealing, it is the most expensive with average costs coming in around $2,200 to decorate plus a monthly staging fee of around $2,000-$2,400 for a 2,000 square foot house. If you’re looking to sell fast at top dollar this is a great option
The next two staging types save on costs but don’t have all the bells and whistles Vacant Home Staging brings with it. Main Room Staging removes all furniture in the house but saves costs by only staging main rooms such as living rooms, dining rooms, and the master bedroom with touches in the front and back yard. Savings can range anywhere from 40%-60% on both decorating and monthly fees. For example, if we’re selling a 2,000 square foot home for $799k and close at 3% above asking price, that’s an extra $24,000.00 in the seller’s pocket with staging costs only totaling around $2,300/month.
The final and least expensive option is Occupied Staging. This staging style begins with a consultation with a stager who evaluates existing furniture within the home. From there they will make recommendations on decluttering, moving furniture, and decorating with the sellers own belongings. In this option it’s safe to expect a one-time fee of $800-$1,000 dollars for the stager to come rearrange and declutter the home.
Let’s Sell Your Home Fast
The point of this piece is to make sellers feel comfortable with the staging process while also expressing the importance of working with a realtor who can help guide them towards the best option based on their budget and home type. According to The Real Estate Staging Association, 90% percent of all staged homes successfully sell within a month of hitting the market. With this in mind staging proves to be a ‘no brainer’ that puts money back in your pocket. I’m here to help you do exactly that.