If you're selling your home, there are several marketing strategies that can help you sell it faster and get more offers. One such strategy is home staging.
Staging a home entails temporarily redecorating it to improve its aesthetic appeal. It allows your buyers to imagine what they can do with the house once they've purchased it and moved in. Home staging allows you to highlight the best features of the property you're selling.
In fact, statistics from the National Association of Realtors (NAR) say that in 2021, 82% of agents believed that home staging made it easier for homebuyers to visualize a property as their future home. According to their research, staging the living room, primary bedroom, and kitchen has the greatest impact on buyers.
According to the Real Estate Staging Association (RESA), staging a home reduces its days on the market. Properties that weren’t staged before the listing averaged 143 days on the market. After staging, these homes stayed on the market for an average of 40 days, while homes staged prior to being listed averaged 23 days. It also affects the sale price. According to NAR, 23% of agents said home staging raises the dollar value offered by 1% to 5%. (Source: Investopedia)
It also improves the visual appeal of your listing photos.
The downside, of course, is its cost. According to Realtor.com, the average cost for staging for an initial design consultation is $300 to $600, and a minimum of $500 per month for each staged room. The costs could go higher depending on the amount of work that your home needs for staging.
But if it helps sell your home quickly and for a higher price, the investment might be well worth the returns.
You can DIY your home staging by rearranging the furniture, removing personal photos, putting some plants or flowers (real or fake) as accents, and buying some decor to give the room the vibe you want. Sometimes, your real estate agent can assist you with staging. Some agents will only give you tips or advice, but others may be more hands-on.
However, if you lack the necessary skills or inventory but have a limited budget, you can always rely on the professionals to do their job. Professional home stagers have the expertise, experience, and inventory to assist you. They also keep up with the latest trends, which can help you present your home in the best possible light.
At the end of the day, whether you stage the home you are selling is up to you. Consider the cost of staging, the value it can add to your property, and how quickly you want to sell your home. Of course, you also have to consider how competitive the market is in your area.
If you are unsure, you can always ask your real estate agent for their input. Your agent can help assess the property and give you advice based on market trends.