Home staging is useful to help buyers visualize a place as their future home, and agents think it attracts better offers. Here’s what REALTORS are saying about the cost and value of home staging.
1. Staging helps buyers visualize a home as their own
As stated by celebrity staging expert Meridith Baer in a Realtor.com interview:
In some ways, [home] staging is a lot like screenwriting in that you are telling a story. You are creating an environment in which home buyers want to be the star.”
Baer is right. A fully furnished home feels like, well, home. And the security of feeling at home is an essential part of the buyer’s motivation to write an offer.
2. Staged homes spend less time on the market
Over half of listing agents say that a staged home sells faster, according to the graphic above. Meridith Baer says staged homes sell 88% faster than nonstaged homes. The point is, staged homes are more attractive, and they motivate buyers to place an offer for reasons mentioned above.
3. Staged homes sell for more
As the graphic states, 44% of agents say a staged home is a more valuable home. And again, Meridith Baer says staged homes sell for 20% more than nonstaged homes–a margin that may not be quite so high for everyone. But even if staging a home brings in 5-10% more on an offer, it would be well worthwhile.
Either way, a home becomes more desirable if a buyer can immediately envision herself living there. This is reflected by her confidence in buying, her promptness in making an offer, and ultimately the price she is willing to pay.
Which one of the photos below looks like a more valuable home? We’d choose the one on the right.
As you likely guessed, they are the exact same room, before and after staging.
What’s the cost?
The cost of staging a home depends on the size of the home and the length of time the home needs to be staged. Realtor.com estimates home staging to cost $500 to $600 per room per month, plus a fee for an initial design consultation. For three bedrooms, a kitchen and a living room, this would cost $2,500 to $3,000 for a month of staging (plenty of time for a well-marketed home in California).
Imagine you have a 3-bedroom home in the Dana Estates neighborhood listed at $600,000. If a buyer offers 1% over asking price due to the ambiance of the staging, this would mean an offer of $606,000. With this in perspective, the $3,000 you spent staging the home would have been worth it, as you have now earned a $6,000 higher offer. Imagine if the staging brings in 5% over asking price–that is an additional $30,000!
Thinking of Selling?
Many real estate agents recommend home staging, but there may be other factors to consider when making this decision. If you have questions about getting your home ready to go on the market, please contact Peter below or via phone @ 925.385.8798.
Having a knowledgeable and experienced real estate broker on your side helps protect your interests and ensure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.