For many people, buying a home is the culmination of a lifelong dream. But that doesn't mean your first home is the only home you'll ever own. Whether you need more space, are looking to downsize, are moving for a job or simply want a change of scenery, you can't leave your current home until you find someone willing to buy.
As you get ready to sell, you can expect to spend a lot of time getting your home in the best shape possible to make it appealing to potential buyers. One of the common steps in that process is staging your home—and if you've never sold a home before, you might not understand the importance of staging when it comes to drumming up interest and securing a high sale price.
Here's an overview of the importance of home staging, along with some numbers to back up its value.
How Staging Works
When an owner decides to sell their home, most real estate agents will recommend that the owner stage and style the home's interior to make it as attractive as possible to buyers. While the amount of staging you undertake will depend on the current condition of your home, your staging budget, and your willingness to put in the work of getting it staged, even a modest amount of staging and decorating can make the home more attractive to buyers.
As part of the staging process, you will identify clutter to remove from the home, look for cost-effective repairs and finish upgrades that improve the appearance of your home, and remove furniture from your home's interior to make it appear more spacious. You may even swap out your current furniture for more modern and stylish pieces, which you will likely rent from a home staging company.
The decor in your home will also be changed to make the living space more neutral and inviting. Personal decor such as family portraits will be replaced by other artwork and decorations. Clutter on the walls will also be reduced to make the home feel more open, while still decorated.
While you can undertake this process on your own, you may also choose to work with a home staging professional.
Top Benefits of Home Staging
Unfamiliar with the staging process, or unsure why home staging works? Staging offers a number of benefits as you ready your home to sell. These include:
- It beautifies your home, making a stronger first impression. First impressions are important when trying to forge an emotional connection between buyers and your home. Staging should be done with a goal of making it easy for buyer to envision themselves living in your home.
- Staged homes are designed to look more spacious. Staging clears out clutter and even changes out furniture to open up your space and make it appear more roomy.
- Staging depersonalizes the home. By removing personalized elements of your home decor, such as family photos, potential buyers will have an easier time imagining the home as theirs, rather than belonging to someone else.
- You're able to give the home a deep clean. Moving around furniture is a perfect opportunity to fully clean and beautify your home before showing it to potential buyers.
- You can make simple updates that increase the potential sale price. A new splash of paint or an updated light fixture can make a big difference in your home's appearance and aesthetic.
Is It Worth It to Stage a House?
Staging can making your house look beautiful, but for sellers, what matters most is the bottom-line. Staging is an investment into scoring a higher sale price for your home—and there are several metrics that suggest this investment pays out a handsome reward.
Here are some persuasive home staging statistics to consider when deciding whether to stage your home:
- More than 80 percent of real estate agents say staging makes it easier to sell a home.
- More than half of all real estate agents report that staging can increase the average sale price for a home by up to 10 percent.
- Real estate estimates suggest that, for every $100 invested into staging your home, the sale price for your home can increase by $400
Who Pays for Staging a House?
Since you as the owner stand to benefit from staging a house, the cost of this process is entirely on your shoulders. While it's recommended by real estate agents and other housing professionals, staging is entirely optional, and prepping your home for sale is an incidental cost of owning and looking to sell a property.
The good news, though, is that the profits earned from staging are all yours to keep. If you're able to increase your home's sale value by three percent, five percent, 10 percent or even more, you're able to pocket all of those earnings, minus your real estate agent's fee.
While staging adds a little extra work and cost to selling your home, it's a fairly straightforward process that can quickly raise the sale price of your home, and put more money in your pocket. If you take the time to stage your home correctly, you're likely to be rewarded with increased competition and a fast sale.