Home Staging is often a misunderstood notion when most decide to sell their home. Many find the concept hard to negotiate or understand. Most want to save money for their new space and not spend additional dollars on a home they are preparing to leave. However, Home Staging is NOT interior design or simply arriving with a truck load of gorgeous white furniture. Home staging is “the art of preparing the home for sale” and that often requires different attentions for each client and property.
Home Staging is a marketing tool necessary in creating perceived value. Today’s buyers are not only buying a structure, but they are drawn to a lifestyle. Whether they love the family-friendly floor plan, the fabulous kitchen, ample square footage or the great backyard; they are emotionally drawn to how the home makes them feel when walking through the front door. Ultimately leading to a greater perceived value & justified higher price. Home Staging helps buyers visualize themselves living in the space; creating an emotional connection that leads to faster and stronger offers.
A professional Home Stager will be able to quickly & effectively evaluate a space and offer recommendations on how to best prepare the home to receive buyers. They will ensure traffic patterns are clear; windows remain unobstructed and buyers are not overwhelmed by the current family that lives there. Whether it is investing in a good painter, a storage unit for overflow belongings or a handyman to address repairs, your Home Stager will be able to offer ways to keep the timeline moving quickly & efficiently so the home is ready for staging day. Staging day may look different for every project. Whether a truck arrives for a full day of staging or just a team of movers to rearrange what the homeowner already has; staging day will be the last piece of the puzzle before handing over to the professional Realtor for photos.
The ROI of Home Staging
Sellers who choose not to leverage Home Staging risk leaving money on the table. According to the National Association of Realtors (NAR), staged homes sell 73% faster on average and often command 5-20% (or higher) over asking. It has been proven that home staging accelerates buyer interest, reduces days on market & leads to stronger offers. Every day a home sits unsold it incurs carrying costs such as mortgage payments, utilities, taxes and maintenance expenses. By investing in home staging prior to listing, sellers are reducing the risk that the home is going to accumulate a dismal history of days on market. By staging prior to listing, sellers are giving themselves a unique advantage over unstaged competition, leading to smooth sale process & financial transition much quicker.
The Cost of Home Staging
Home staging costs vary by market & region, as well as price point & individual staging firms. However, the general nationwide cost of home staging a property tends to fall in a range of 0.5% - 1.5% of the listing price of the home. Fairfield County market dictates closer to 1% of listing price, which generally includes all inventory, labor & rental costs for a 60 to 90 day period. Often, Realtors will wait to offer a final sale price to the seller until the home has been staged. The perceived value of the home increases after the staging process is complete. Remember, the cost of staging the home properly will be lower than your first price reduction!
Fairfield County buyers have refined tastes, often looking for unique features, high-end finishes and luxury lifestyles. Regardless of location, price point or square footage, buyers are looking for a turn-key experience. They will move on to your competition if the home doesn’t offer the emotional connection they are looking for. Dismissing home staging as a critical part of your marketing campaign is risking lost buyers as well as leaving dollar value on the table.
Liz Pensiero has been an industry leader & innovator within the Fairfield County Real Estate Industry for over 12 years. As a multiple award-winning luxury home stager specializing in both vacant & occupied properties, top Realtors throughout Fairfield County turn to her for her interior marketing expertise. As a member of The Staging Collective and multiple industry & local boards, Liz’s firm is available for Pre-listing Consultations, blended projects and full vacant stagings.
Home Staging is an essential investment in the sale of your home. It is a marketing tool that increases perceived value.