Home staging is the act of “staging” your home to look more attractive to potential buyers, with the intent being to increase the sale price of your home. It plays on the emotional aspect of the homebuying process, allowing the homebuyer to picture themselves in the home and to connect with it on a personal level.
In general, there are five key factors that lead to successful home staging: paint colour (warm tones), maintenance (deep cleaning), decluttering (removing all signs of the previous homeowners, such as family photos), correct placement of furniture (highlighting features such as a fireplace) and emotional cues (lit candles and flowers).
Although the act of home staging has only become more mainstream in fairly recent years, there are some powerful statistics to show just how beneficial home staging services can be in terms of not only your home selling as opposed to sitting, but also receiving the highest bid. Take a look.
Staged Homes Spend 50% Less Time on the Market
A survey by Coldwell Banker Real Estate Corp. found that homeowners who invest in home staging services have their homes stay on the market for 50% less time than homeowners who don’t invest in home staging. This has been confirmed by additional studies as well.
One commonly asked question regarding home staging is whether the cost is worth it. Consider the following: first, houses that stay on the market for longer result in price drops, as found in a survey by the National Association of Realtors (NAR). Secondly, the homeowner is also responsible for mortgage payments while their house is on the market. A study by the Real Estate Staging Association (RESA) found that homeowners will save, on average, $2,122+ by investing in home staging services given that their house will stay on the market for less time.
Staged Homes Sell 79% Faster
Another study found even more startling results of home staging: a 2011 study by RESA found that staged homes sell 79% faster than non-staged homes. In fact, one study found that they sold in as little as 42 days, as opposed to 156 days (on average) for non-staged homes.
Homes Sell for 6% More Than the Asking Price
The same survey above also found that staged homes received 6% more than their original asking price.
8-10% Return on Investment
NAR also found that home staging results in an 8 to 10 percent return on investment.
If you are looking for premium home staging services, contact one of our talented interior designers at Bedford Brooks. Our work has been featured in a number of magazines, from Canadian Home Trends to Chatelane.