Staging – Is It Worth the Investment?

Staging has become more common in the last five years or so.  What is it?  Does it make that big of a difference when selling?  Is it worth the cost?

What is Staging?

Home staging is the act of preparing your home for sale.  The goal is to make your home appealing to the highest number of potential buyers as possible. It can include artwork, painting, accessories, greenery, lights, and rearranging or bringing in temporary furniture.  The goal is for potential buyers to see all the attractive features of a home while downplaying the flaws.   This will help in selling more quickly and for more money.

Does Staging Work?

The National Association of Realtors surveyed their members and released their findings in the Annual Profile of Home Staging Report.  Here are some highlights:

• 62% say staging decreased the amount of time a home spent on the market
• 83% said staging made it easier for buyers to visualize the home as their own
• 40% of buyers were more willing to visit a home they saw online if it was staged
• The most common rooms that were staged:
  • living room (93 percent)
  • kitchen (84 percent)
  • master bedroom (78 percent)
  • dining room (72 percent)

Is it Worth the Cost?

The survey reported the median dollar value spent on home staging was $400.  This would be if the stager came into the home and used your furnishings.  Prices go up if some to bring in accessories and furnishings.  The survey also found that 50% of staged homes saw a 1 – 10% increase in dollar -value offers from buyers.  If you’re selling a $250,000 home, that’s an increase of $2500 to $25,000.  While most homes were in the 1 – 5% range, it is still worth the cost.

If you’re thinking of selling and want some advice on what you need to do to get your home ready for the market, give me a call.  I’ll be glad to come out and give you some feedback.  If you’re considering any larger renovations before selling, check out my post on what return you can expect on your investment.