Posted on June 27, 2018 by April Strickland.
If you’ve thought about selling your home or you’re somewhere in the process, odds are you’ve heard something about staging your home. The internet is flooded with information on the do’s and don’ts of home staging and why you need to have that throw pillow perfectly placed on your couch.
While there are some people who jump at the chance to decorate and stage a home, some of us wonder about the actual effectiveness of the process. Is it worth it to put more money and time into the home you’re trying to sell? Here are three reasons that staging your home is worth it and can help increase your home’s value.
Stand Out Amongst Competition
Just like any market, when there’s lots of competition you have to find ways to set yourselves apart from everyone else. So, let’s say your neighbor is selling a house that is similar to the one you are selling. While you took the time to stage your home and give the buyers the feel of living there, your neighbor didn’t. Instead, potential buyers walked into a cluttered and fully lived in home. Or maybe the homeowners already moved out and potential buyers had to tour a completely-empty house. Either way, it’s not the kind of impression you want to leave. In fact, 81% of buyers say home staging makes it easier to visualize the property as their future home.
When you take the time to stage your home, you’re taking the initiative to tap into potential buyers’ emotions and make them feel like your home could be their home.
Stage it Now, Sell it Faster
Another big reason you should consider putting down the time and money to stage your home is because staged homes sell faster in the housing market. A survey by Coldwell Banker Real Estate Corp. found that staged homes spend half the time on the market than non-staged homes. Typically, the longer a home stays on the market the more the price drops. So, not only does this mean that the process will be less drawn out for your as the seller, but you’ll also be getting more bang for your buck with your home potentially selling faster.
Perceived Value is Higher for Staged Homes
When you market something, it’s important to show what you’re selling in the best possible light. Selling your home is no different. You want to highlight the best features while drawing attention away from the potential eyesores. Does this actually help to increase the perceived value of your home? Yes! A study from the National Association of REALTORS found that buyers are willing to spend 1% to 5% more of the dollar value on a staged home than a non-staged home.
So, is staging your home worth all the time and money? Well, if you want to sell your home quickly, potentially increase the value, and stand out in the housing market competition, the answer is an absolute yes! While it might seem a little tedious and time consuming now, the payoff and outcome will be well worth it.