It is common knowledge that when a home is put on the market for sale, it should be in the best shape possible for the prospective buyers. This involves thorough cleaning, removing of clutter and making sure it is well lit. However, is it worth the extra time and investment to stage your home?
Realtors say, taking the extra step to stage a home can make a difference in how a buyer values it and the price a seller might get for it, according to the National Association of Realtors 2015 Profile of Home Staging report.
The report found that 49 percent of surveyed Realtors who work with buyers believe staging usually has an effect on the buyer’s view of the home. Another 47 percent believe that staging only sometimes has an impact on a buyer’s view of the home only. Only 4 percent of Realtors said staging has no impact on buyer perceptions.
Realtors on the buyer side believe that staging makes an impact in several ways; 81 percent said staging helps buyers visualize the property as a future home, while 46 percent said it makes prospective buyers more willing to walk through a home they saw online. Forty-five percent said a home decorated to a buyer’s tastes positively impacts its value; however, 10 percent of Realtors said a home decorated against a buyer’s tastes could negatively impact the home’s value.
From the seller side, a majority of Realtors utilize staging as a tool in at least some instances. Just over a third of Realtors (34 percent) utilize staging on all homes, while 13 percent tend to stage only those homes difficult to sell, and another 4 percent will do so only for higher priced homes. The median cost spent on staging a home is $675. Sixty-two percent of Realtors® representing sellers say they offer home staging service to sellers, while 39 percent say the seller pays before listing the home.
Realtors believe that buyers most often offer a 1 to 5 percent increase on the value of a staged home (37 percent from Realtors representing sellers and 32 percent from Realtors representing buyers). Additionally, 22 percent of Realtors representing sellers and 16 percent of Realtors representing buyers said the increase is closer to 6 to 10 percent.
The median price of homes currently listed in Portland Oregon is $423,200. So if staging a home at that price increases the value by just 3 percent, that equates to over $12,000. The rooms that have the most impact when staged are as follows, in the order of importance:
- Living room
- Master Bedroom
- Dining Room
- Children's Bedroom
- Guest Bedroom
Working with an experienced Realtor can give buyers, sellers and investors the advantage of the best way to stage and market a home. Staging a home can give you a little more advantage in selling a home. The impact it may have and the value it can bring is evident by both buyers and sellers.
For more information about staging, selling or buying a home in Portland or Vancouver contact us anytime!