Real estate sales statistics show that home staging is always a perfect fit for virtually every property. Year over year, home staging has been proven to sell homes faster and for more money, netting larger profits in a shorter time frame than comparable unstaged houses and apartments.
Sellers are often hesitant to invest any money in a property marketing plan, since they fear that they will not receive any return on their investment. Furthermore, many sellers do not realize the powerful benefits of home staging, so they feel that their property will sell regardless of the lack of effort they have placed into marketing the residence. These are both big mistakes, as any savvy and experience property seller already knows. When it comes to selling or even renting property, staging is virtually always a safe and wise expenditure.
This property guide examines the reasons why staging sells homes faster and more profitably. We will discuss the overall importance of staging any property prior to sale, as well as some methods of saving money during the staging process.
Home Staging is Always a Perfect Fit for Sales
When selling a house or apartment, some sellers decide that the unit can stand on its own merit and sell quickly and for whatever price they arbitrarily deem to be proper. They do not take into account market conditions, the overall economy, mortgage rates or any other general factors that influence the price of every parcel of real estate.
These same buyers do not objectively view their property before trying to sell it. They merely put it on the market, as is, and hope for great results. They like the home, so they assume everyone else will also. Additionally, they do not consider that those “minor” issues in the home will drastically reduce its value. These are all huge and costly mistakes for any real estate seller.
Properties must be priced according to the laws of supply and demand and also according to current fair market valuation based on objective comparable sales in a short time-line. Properties must also be optimized using home staging techniques in order to derive the most actual and perceived value during the sales process.
Staging a residence provides universal appeal with special targeting of particular buyer demographics, using design and psychological elements that make the home virtually irresistible to prospective purchasers. Staging is proven to decrease the time-line of selling a house, as well as increase the final contract price. Not staging a home is simply asking for it to remain on the market longer and eventually selling at a greatly diminished price, if it sells at all.
Home Staging is Perfect for Rentals
In much the same manner as unenlightened sellers, some landlords and management companies place rentals on the market without considering the aesthetic quality of the unit or the impression made to potential tenants. Most rental units are unfurnished and worn, with little care taken to enhance the property each time a tenant moves out. Over time, the unit becomes less and less appealing until it can only be rented to the least desirable types of tenants. Trouble is sure to follow.
Knowledgeable management companies and landlords will always invest in a staging plan for their empty rental units. They know that a beautifully furnished apartment will appeal to quality tenants who are willing to pay more money to get exactly what they want. They also know that staging helps to define room use and space, being particularly useful in awkward or ambiguous rooms.
Furthermore, these same smart landlords and property managers will virtually always offer the option of renting the unit fully furnished for additional cost. This way, they can increase their profitability each and every month, while simultaneously safeguarding their investment through the implementation of an additional security deposit.
In summary, staging a rental will invite the best of the prospective tenant pool to desire the unit and will raise the monthly rent of the unit considerably, even if the staging is removed prior to occupancy. For staged units that are rented fully furnished, the financial benefits last and last, the longer the tenant maintains occupancy.
Saving Money on Home Staging is Always a Perfect Fit
Just because home staging is so effective, does not mean that it has to cost a lot of money. In fact, most staging plans can be fully designed and executed for minimal investment of time and money. Generally speaking, professional staging will cost more money, while DIY staging will require a greater time investment.
Learning the skills needed to stage a home can be a daunting task, but the process is actually not that difficult and the experience can be used over and over again in life to repetitively make more money each time a new sale or rental opportunity arises. Of course, it is always great to hire a fully trained and experienced professional home stager, since this will truly guarantee the very best results from each dollar invested.
If you are still not sure about the value of home staging, talk to your real estate agent. They will surely tell you that a modest investment in basic design elements, combined with a sensible renovation plan, will raise the sale or rental value of any property substantially. Factual statistics don’t lie. Since the dawn of modern home staging, we continue to see great performance from staged properties in every price point, every geographical location and among various buyer demographics. Staging is a safe bet when selling or renting, since the real risk comes when marketing any property “as is”.