When putting your home on the market, is it really worth it to invest time and money into staging? The simple answer is yes! Home staging will highlight the best features of your home, produce impressive photos for your online listing and create a strong first impression for potential buyers. It will also minimize your time on the market (fewer showings!) and maximize offer potential (more money in your pocket!)
The act of home staging can be executed in a variety of ways. It can be clearing out the clutter and rearranging your existing elements to optimize your space. Or maybe it’s setting the scene in an empty home by bringing in furniture and accessories, making it easy for potential buyers to visualize how to use the space and get a better sense of the home's potential. Whatever type of home staging you need, investing a little time and money upfront can save you a lot time and money in the end! Still want to know more? Let’s check out some numbers…
- Most buyers form an opinion about a home within the first 10 seconds after they arrive, making curb appeal and entryway areas very important. You only get one chance to make a first impression!
- Staged homes spend 83% less time on the market compared to non-staged homes (HomeGain.com). Better first impressions, quicker offers, faster sale!
- A Coldwell Banker survey of 2,800 properties revealed staged homes sell in 1/2 the time of non-staged homes
- In a study looking at nearly 170 properties valued at $300,000-$499,000, professionally staged vs. non-staged, the non-staged houses took 125 days to sell, while the staged houses sold in only 22 days (Real Estate Staging Association (RESA))
- 52% of buyers are willing to offer more money for a staged home compared to similar homes on the market (National Association of REALTORS® 2015 Profile of Home Staging)
- Sellers who spent $500 on staging recovered over 343% of that cost when they sold their home (HomeGain.com)
- A survey of over 2,000 Realtors showed that home staging provides an average 586% return on investment (HomeGain.com)
- The average staging investment is between 1 and 3% of the home’s asking price, and generates a return of 8-10% (National Association of Realtors (NAR))
- 81% of buyers find it easier to visualize a property as their future home when it's been staged (National Association of REALTORS® 2015 Profile of Home Staging)
- Most buyers look for homes online before visiting in person, making it so important that your home is staged well in order to make a strong first impression
- 46% of buyers are more willing to walk through a home they viewed online that's been staged (National Association of REALTORS® 2015 Profile of Home Staging)
These are some pretty impressive numbers that make a great case for the benefits of staging!
Surveys and statistics aside, I think the importance of creating a visually appealing space is obvious to many. It’s not only about how it looks, but how it makes you feel. Many buyers begin their home search with very specific criteria of what they’re looking for, but often end up buying a home more heavily based on an emotional connection they make with the space. A home stager can help make that connection by creating a positive, warm and welcoming environment that potential buyers will want to call home!