WHAT YOU NEED TO KNOW ABOUT STAGING
Would you dress up for a job interview or a first date? In the Bay Area’s super hot market, it’s almost always the well-priced homes that are dressed to impress which receive multiple offers. Staged homes can often yield prices as much as 10% over asking. Ask a realtor these days and 99% will strongly recommend staging your home to maximize your sales price. However, budgetary concerns are often a factor in the amount of investment one can or should spend in a home they are ultimately selling anyway.
Staging may not be the answer if:
1. You have very limited financial resources
2. Your home is more than 30 years out of date and in need of major renovations
3. Your home has some innate flaws that will limit the sale price like an undesirable floor plan or really limited sun exposure
Staging as a simple redecoration can be straightforward and reasonable and may range in prices from $2,000 up to $60,000. Add in the cost of paint, flooring, landscaping and appliances and many staging jobs can easily run $100,000 or more.
Realtors often use the rule of thumb that for every $1 invested, $2 or more is returned.
Today, the business of staging has gotten more sophisticated. Stagers are increasingly tackling all-out transformations that aim to present compelling contemporary design and an aspirational lifestyle to prospective buyers. According to Jane Saidenberg, the design director of Studio D, a staging company with offices in New York and San Francisco.
People want it to look like a shelter magazine, or like something they’ve seen on TV. It’s more elevated than it has been in the past. Buyers respond positively to décor that evokes a cleaner, simpler lifestyle with flair and fun.
In order to maximize the sales price of your home, at a minimum, I recommend all sellers tackle the 3 D’s when getting their property ready for market
1. De-clutter - tidy up, sell, store, donate or dispose of unnecessary goods
2. Deep Clean - followed by a fresh coat, preferably in neutral colors, of paint will make a place look clean and fresh
3. Depersonalize - remove all personal photos with the possible exception of a few that are pleasant with evocative images in handsome frames
If budget allows, the next recommendation is for fresh flooring (i.e. refinishing or replacing existing hardwood, new carpet). A recent New York Times article Essential Tips to Home Staging suggests renting or buying inexpensive contemporary furniture to stand in for traditional pieces that appear dark, heavy, old or ornate. Fresh, fluffy towels and crisp white bed linens are recommended as an inexpensive way to suggest luxury. Houzz also has a great go-to resource to Sell Your Home Fast with 21 staging tips with advice on sprucing up homes from curb appeal to the insides of closets.
A well priced home in a highly competitive market sells regardless. Staging will not be the silver bullet to warrant your home yielding a price that is well over its fair market value. I have seen several cases where expensively staged homes, which are priced too high for the market, ultimately cost the seller any benefit that the staging would have provided.
Price is the still the #1 factor in selling a home.
I look forward to your ideas and experience with staging and feel free to get in touch for a complementary analysis consultation for your property.
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