Tomorrow is July 4, a festive day for the country and Anna Maria Island, where small-town vibes and celebrations still happen. Flags flying, parades, fireworks and barbecues will be on full display, but what about the display of your home if you’re planning on selling it soon? This is where you may want to talk about home staging.
Reading about home staging reminded me of my three-month sofa. When we were selling our New York home and moving to Florida our family room sofa was, you might say, a little odorous. It had barely survived the puppyhood of our dog and there was no way I was embarrassing myself and Duffy in front of the real estate community.
The problem was quickly resolved at one of the discount furniture stores where the furniture was up on racks. When the salesman asked us what we were looking for, I said a three-month sofa. He got it and two days later Duffy’s puppy mistakes were history, and I could boast that we were leaving a brand-new sofa.
Sorry if this was a little long-winded, but the point is don’t have anything nasty in your house when you sell because, believe me, that’s the only thing the buyer will remember. Buyers will also wonder what else in the property has not been maintained if something as simple as a sofa is trashed.
My sofa saga was an easy and inexpensive fix, but homeowners go to great lengths to make their homes presentable for sale. Home staging has gone from catering to high-end properties to sellers in all price ranges who are starting to understand the value of appearances. Requests to hire home staging companies have increased 10% in the first quarter of this year alone and the average cost to stage a home rose 10% to $1,816 compared with the year before the pandemic per Thumbtack, an online service professional platform.
Similar to all professions, staging has a menu of options for homeowners ranging from a one-day consultation to help declutter to a 60-day contract involving new high-end furniture. According to the National Association of Realtors, Realtors can personally stage the home for a minimal fee of around $400.
Virtual staging is currently the cost-cutting option, using software to show what the space could look like at a cost of approximately $100 a room. This could, however, backfire when the buyer is disappointed that the sleek color-coordinated look is not actually in the home when they tour it.
Is it worth the money? Most real estate professionals say yes, it is and that staging a home increased the volume of offers between 1% to 5%. It’s also a built-in way to get ready to move when all your stuff and personal things get stored away.
There are a couple of downsides to staging. The obvious is the cost, but staging can also delay a home getting on the market until the staging is completed. And it may not be as comfortable having to live in a staged home, especially if the selling process continues to take longer.
While you’re watching the fireworks be thankful for our freedoms. The freedom to discuss anything you want to and the freedom to control your assets. Your home is likely your largest investment and this country gives you the freedom to do with it as you like. Not every country in the world lives with that creed; we are among the very fortunate. Happy Independence Day.
