Staging your home for selling may not sound economical, depending on your needs and the condition of the house. In fact, it may seem counterintuitive to spend money on staging when you probably need the money from the sale of the house for something else.
Here are 5 good reasons why staging your home for sale will actually make you money:
1. It helps your buyers see your house as their future home
This is the single most important reason that will make a potential buyer put in a bid — he / she / they can see your house as a future home. Without this, it doesn’t matter how beautiful your home is, or how good of a deal it is. At the end of the day, they have to be able to see themselves living in your house. Even if someone is buying an investment property, they tend to gravitate towards something they can see themselves living in.
Over 81% of potential home buyers in the U.S. reported that, when viewing a staged home, it’s easier to imagine themselves living in that house. (Clever)
2. Staging your home creates an emotional connection for your buyers
As much as buying a home is a financial decision, most people are making that decision based on their emotions. When someone walks into a home, that first impression will either leave them with a warm and cozy feeling, or a not so memorable “I don’t remember that house” feeling.
Of the people asked, 45% had a positive impression when the taste of the current homeowner was like their own. (Clever)
After looking at multiple homes in a day, a lot of houses start to blur together for buyers. When they are picking from a list of houses, the one that made the warm and cozy first impression will have an emotional connection that makes the house stand out.
3. Increases the number of people who want to see your house
Before any buyers show up at your doorstep, their first encounter is with the pictures on your real estate listing. If they don’t like the pictures, they may rule out your home as a possibility before ever setting foot on your property.
40% of buyers are more willing to walk through a staged home they saw online. (National Association of Realtors)
To say it bluntly, professionally staged homes simply photograph better. Of course, hire a professional photographer too.
On top of that, not only are your photographs advocating for you without you having to do anything, the buying agents also tend to advocate for the homes that look beautifully staged online. They are more likely to tell buyers to look at those homes in person.
4. Justifies a higher asking price
You have probably hear this before, and if you are still skeptical, yes there is data behind it.
85% of staged homes sold for 6-25% more than unstaged homes. (Home Staging Resource)
Let’s do the math here. For a $300k house, you may spend $3000 on staging the home. While $3000 may sound like a lot, but that comes out to be 1% of the selling price. Think about this, you pay 1% of $300k, and end up making 6% more on the selling price (remember that’s the low end of the range), you still end up making $15,000.
5. Reduces the time it takes to sell your home
Time is money.
The cost can add up pretty quickly, especially if you are paying double rent or mortgage on the home you are trying to sell and the one you are moving to.
With that logic, the sooner you can sell, the more money you can save.
Staged homes sell 73% faster (The Mortgage Reports)
Now let’s add up all of those reasons: More potential buyers looking at your home because you have nice pictures online, and then more of those potential buyers will remember your home when it comes to making a decision because of the emotional connection, and then more buyers will put in a bid because they can see themselves living in that house, and then more buyers will act fast and put in a higher bid.
The result of that is, more money in your pocket by staging your home, and you get the money sooner!
Are you ready to stage your home? CLICK HERE to schedule a complimentary phone consultation.