Most homeowners who are selling and real estate brokers I speak to are interested in getting the highest price tag possible when putting a property up for sale. Inevitably, when the conversation turns to staging, the question is asked, “how much will this cost”? As someone who holds a Wharton M.B.A., and is a Goldman Sachs alum, I can go really deep about the difference between a cost and an investment, but I’m going to keep it simple.
Home Staging is an investment. Done well, and with all else being equal, it can increase a seller’s return on investment many times over. To make it clear, here’s what’s included in the investment in home staging:
- Temporary furnishings – furniture, lighting, art, and everything it takes to create a show ready property that the target buyer will fall in love with
- Pre-Staging Planning, Scheduling, and Staging Time – creating a design plan, coordinating deliveries, vendors, and staging
- Staging Removal Post-Sale – emptying the property after the sale in preparation for the new buyer
There is no one investment level for home staging. It depends on many factors, including the price point of the property, square footage, vacant vs not vacant, and more. Here are some benefits and the return on investment a seller can expect from home staging, again all else being equal:
- Higher perceived value, which translates into higher offer prices
- Up to 73% less days on the market
- A staged home versus an empty home will look more spacious and much more inviting
- The investment in home staging will be less than a price reduction taken after trying to sell an un-staged property
As you consider staging for helping a property to sell faster, keep in mind that it IS an investment. It will position you to outshine your competition, and is definitely a tool that is to the advantage of any savvy seller who wants to maximize their return.