Is home staging worth the investment?
Depending on the size and condition of the property, home staging can cost a few hundred or even over a thousand dollars. But is the expense worth the investment? A recent study from the National Association of Realtors helps us address this question.
Their 2017 Profile on Home Staging found that 29 percent of sellers’ agents saw an increase of one percent to five percent of the dollar value offered by buyers when compared to similar unstaged homes. Furthermore, 21 percent of respondents reported that staging a home increased the dollar value of the property between six and 10 percent. And staging a home doesn’t just impact the sale price: staging greatly decreases the amount of time the home spends on the market, according to the NAR Profile of Home Staging. Homes that are staged prior to listing sell faster while unstaged homes that have sat on the market for a long period of time also sell quickly after staging.
Not all rooms in a home are considered equal, however. The report stated that the living room and master bedroom were the most important rooms to stage, followed by the kitchen. The yard and outside spaces, dining areas and bathrooms were considered of medium importance while children’s rooms and guest bedrooms were least important. If funds are limited, the scale of importance revealed in the NAR’s study can be useful to understand how to most effectively direct funds for home staging.
Who stages the home?
Realtors that have a background or experience in design may be interested in executing or coordinating staging themselves. This can involve decluttering, painting, planning the best use for each room and space and bringing in suitable furniture, linens, decor pieces and artwork. However, many realtors opt for an external professional service which they offer to pay for, while others simply recommend a trusted vendor for the buyer to hire. This all depends on the realtor’s and buyers’ preferences.