We’re back on Daylight Savings and Spring is returning to the San Francisco Bay Area. Homeowners thinking about putting their house on the market typically associate Spring and Summer as “the” time to list. If you’re finding yourself preparing your home for sale, home staging is an important consideration. When advising my clients, I often get asked this question: Is home staging worth it? As with anything related to real estate, the answer is dependent upon the sellers, the property, and of course, the state of the market. That said, here are some facts and information to mull when deciding to stage your home during the selling process.
Home Staging Survey Results
In 2015, the National Association of Realtors conducted a survey profiling the effects of home staging. The survey was sent to over 49,000 Realtor members and had a 4.8% response rate (sample size of 2,373 respondents). Here’s what they found:
- 96% of buyers reported an impact on their point of view of a home: 49% of buyers indicated they were affected by home staging. 47% indicated they were affected by not always. Only 4% reported no impact.
- 81% of buyers found it easier to visualize the property as a future home. From an ROI perspective, this is a very important statistic. In many instances buying a home is an emotional decision. Buyers are asking themselves “what would it be like to live here?” and “would I and my family be happy?”
- 46% of buyers were more willing to walk through a home viewed online. Listing a home via online sites like Zillow, Trulia and RedFin is an integral part of your marketing plan. Obviously the more people who are touring your home, the better (e.g., fewer days on market, receiving multiple offers, etc).
- 45% of potential buyers are positively influenced as to the home’s value based on a home decorated to their tastes.
- The three most important rooms to stage are the living room, kitchen, and master bedroom.
- Home staging has increased the dollar value of the home. 32% of respondents reported that staging increased the value of the home between 1-5%, 16% indicated an increased value of 6-10%.
You can download the full 2015 home staging survey at Realtor.org.
Tips to Get Top Dollar
According to Money Talk News, the average cost to engage a staging professional is about 1% of your home’s sale price. However the National Association of Realtors report that the median cost to stage a home is under $700. Of course, there are many variables to home staging costs, including the size of the home and how many rooms to be staged.
As you stage your home, here are the main things to keep in mind:
- Eliminate Clutter – it’s difficult for a prospective buyer to ignore personal knick-knacks and other signs of treasures of everyday living.
- Choose High Impact Rooms – kitchens and living rooms are the hub of a home. Buyers are also attracted to well-appointed master bedrooms.
- A Spotless Shine – imagine white-glove clean where everything has been thoroughly cleaned. It adds to the impression that the home has been meticulously maintained.
- Neutral Paint & Lighting – save strong colors for accent walls or architectural details. Neutral tones lends a spacious feel. Ambient and accent lighting shows off stylish and functional interiors.
- Eliminate Eyesores – if hardwood floors need spiffing up or old carpet replaced, do it. It removes objections that could crop up during the negotiation process.
- Curb Appeal – the outside of your home is the first thing buyers will notice. It sets the tone of a home tour. A new door mat, freshly painted front door and crisp landscaping can transform a buyer’s attitude in an instant.
Are you ready to take the plunge in listing your home? Let’s get started with a comparative analysis. We’ll work together on a marketing plan that best fits your property’s attributes and your financial goals.