I recently shared an article taken from the Colombian stating that staging a home can often raise the sales price of a listing. After reading the article, I wanted to do a little more research in order to figure out the true pros and cons of home staging. Being a realtor I have heard the argument both ways, some stating that home staging that is done correctly can be very effective versus some saying comparables have a much higher influence on the price of a home. After hearing both sides and taking on some research of my own, I’ve come to the following conclusion. I believe home staging can be an effective tool when selling a home, but believe there is a long list of variables to consider before making a decision either way. In this piece I will try to touch on a few of those variables and give my opinion to the value of staging.
The first and most important variable to consider when deciding to stage a home is the state of the market that the particular residence resides in. For example, both Normandy Park are West Seattle housing markets are extremely hot with properties moving in a matter of days. For homes priced in an average range in markets like West Seattle or Normandy Park I believe that staging will have a minimal effect. Most homes that are priced properly in line with comparables are going to get multiple offers whether they are staged or not. However if you were selling your home in an area with a high amount of inventory then staging might give the owner the added advantage to selling their home quicker.
The next factor to consider would be the actual selling price of the residence. If the owner is listing their property for 1 million or higher then the home should be staged. The biggest reason is because once a seller enters a marketplace where the price of goods is going to be very high, it is important to note that the amount of people that could purchase said good will drop dramatically. In that sort of competitive environment it is important to gain every possible advantage. Staging might give the seller that additional edge needed to convince a buyer that this is the home for them.
The last factor I wanted to touch on, although it may be a bit obvious, is the actual state of property being listed for sale. If the residence being listed is going to be an investment property that is going to be remodeled, staging probably wouldn’t be the best use of the seller’s funds. The main reason behind this is most of the potential buyers are going to be investors who already have an idea what they are going to use the property for so staging is unlikely to sway them either way.
This is my opinion on some of the factors to consider when deciding to stage a home. I am sure that some realtors will see it this way, while others may disagree. However I hope this piece is helpful for you sellers out there looking to list your home and considering staging as an option!