These days, when selling your home, some element of ‘staging’ is not optional, it’s now considered essential. Statistics show that staged homes typically sell in only 11 days, or 87% faster than non-staged home. According to the National Association of Realtors, 44% of agents say that staging increases the value of a home.
So how much does staging cost and is it a worthwhile investment?
According to statistics, the typical cost of staging ranges from $500 to $5,500. For a professional service should expect to pay, on average, ongoing costs between $1,600 and $2,400 per month. The good news is that, as long as you are selling your main residence, these costs are tax-deductible. Let’s break down the expense.
An initial 2 hour consultation will cost anything from $150-$600. At this point the stager will give you initial ideas and suggestions, so if you want to go it alone from this point, you’ll have his or her expert advice about how to make the greatest impact..
If your home needs to be de-cluttered, expect to pay around $800.
You should also budget of $400 to $700 per month to stage each room: kitchen, living room and main bedroom are the most typical choices for staging. If your home is empty and you need to rent furniture, expect to pay fees of $500 to $600 each month.
These ongoing fees may seem prohibitive, as there’s no guarantee of how long you’ll need to pay them. However, keep in mind that your home will typically be much quicker and easier to sell, and its value will be maintained or increased.
If, to minimize your costs, you decide to do the staging yourself, there’s a wealth of information online to get you started. Here are some of the easiest and most cost-effective suggestions:
Firstly, if you have a very limited budget, spend it on the areas where potential buyers will spend the most time: the living room and kitchen.
Start with a deep clean and a ruthless de-cluttering. Remove any item that looks worn-out or dated. Store the things you want to keep in boxes out of sight.
Remove personal items, and add some colourful new accessories such as cushions
Tidy and de-clutter cupboards, as buyers may well look inside.
Place a vase of flowers in each staged room, and add a few houseplants to bring in a natural feel.
Add nose appeal: scented candles or diffusers, especially in the bedroom, can make it smell wonderful. In the kitchen, lingering aromas of baking and coffee can help to attract buyers.
Remember that the golden rule is: less is more. Too much furniture will make your rooms seem smaller, so remove superfluous items and store them off-site.
Whether using a full-service professional staging company, or inexpensive DIY hacks, keep in mind your objective of a quick, hassle-free sale at the highest possible price. Chances are it won’t take you long to see a return on your investment of money, effort and time.