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Is it really worth it to stage my home?

One of the top questions I get from my clients when getting ready to sell their homes, “Do I really need to pay to stage my home?”  My quick answer, yes.

Think about the multi-billion dollar fashion industry, which relies on models to showcase their products in the best possible light.  A nice dress on a hanger is one thing, but buyers want to know what the dress will actually look like on. Why should selling a home be any different?  

Here are my top five reasons for making the investment in staging.

  1. First impressions matter.  Face it, people are drawn to the bright and shiny, the pristine.  A staged home results in better photos. It’s those photos which will attract more views for your listing.  More views lead to more interested buyers, which in turn leads to a quicker sale.
  2. Staging helps with the vision.  A staged home gives buyers a more favorable impression of a home’s livability.  People buy on emotion and being able to “see” their family living in the space is essential.  In fact, 81% of buyers surveyed by the National Association of Realtors said staging made it easier to visualize a property as their future home.  Also, a properly staged home will showcase how to best use the space of a home. No more questions about what to do with that awkward nook in the corner.  
  3. You will make more money.  A recent survey by Coldwell Banker Real Estate Corp. found that staged homes not only spend half the time on the market than non-staged homes, they also sold for more than six percent above the asking price.  Even without a price bump, by spending less time on the market, sellers save on ongoing mortgage, insurance and other expenses.
  4. You will get a good return on your investment.  While the cost of staging varies depending on the style of your home and how many rooms need to be furnished, typically, you should budget 1-3% of the listing price for staging.  With the average price reduction being 7%, staging is clearly the way to get the most value for your money.

Bottom line, staging is an essential part of preparing your home for sale and creating a home that buyers want to buy.  It certainly is a way to be in the best competitive position in this market today.