A property seller must ensure that their property is in top condition to attract buyer interest. Then there’s the challenge of helping property buyers relate to a vacant space. This is where home staging comes in.
What is home staging?
Home staging is as simple as preparing a residential property for sale in order to appeal to buyers. Keep in mind that a home stager is going to make your investment property as appealing as possible for one reason or two:
- Get you more offers
- Get you higher offers (more return on investment)
When you take a look at staged real estate property, you will immediately feel the calming ambiance and the attractiveness of the place!
To be exact, a home stager has many methods to achieve that. Many use art, rugs, paintings, plants, and other accessories to get property buyers more attracted to the investment property. According to recent research studies in the US housing market, a staged real estate property can get as much as 6-20% relative to an empty or not staged property!
What to expect from a professional home stager
A home stager is not your ordinary Martha Stewart fan! A home stager is an experienced professional who knows how to get your property in the best light possible. Here are some of the tasks that a home stager usually completes:
- Arranging furniture around to get the most out of your investment property
- Showcases fabrics and throw blankets to give an ambiance
- Displays knickknacks and art
- Does window treatments and décor
- Adds shelving and stacks books to draw attention from property buyers
Accessories that home stagers rely heavily on
A home stager is a decorator/stylist for your investment property. When you think about it, it sounds like more of an art than a business operation. Here are some of the most commonly used items in home staging:
- Inflatable beds
It’s clear that a home stager is more like a house decorator for real estate investment purposes.
Are you selling an investment property in a buyer’s market? Read this blog post to guide you through it: Clever Strategies for Selling an Investment Property in a Buyer’s Market.
How much is home staging going to set you back?
The demand for home staging services varies depending on your local real estate market in addition to other mediocre factors. On the other hand, in a more active and demanding real estate market, home staging seems to thrive! Real estate agents are constantly encouraging property sellers to invest in a professional home stager to paint the house in the best light. The average cost of professional staging services depends on the size of the property (square footage) and a number of rooms in a property. It varies between $500 and $5,000 for bigger properties.
Should you run a comparative analysis to see what’s out there?
Yes. Y-E-S! That should be your number ONE priority when selling an investment property! A comparative market analysis will help you determine the real market value of your investment property in comparison to what similar properties have gone for. In many cases, real estate investors use an investment property calculator to conduct a comparative market analysis for an investment property, whether they’re selling or buying. For a property seller, you want to list your property with an appropriate price. You don’t want the price to be too low and miss out on a substantial amount of return on investment. Also, you don’t want to list it for too high and have a property listed for months on end!
You can run a comparative market analysis using the 14-day free trial offered by Mashvisor. Click here and get going!
Why hire a professional home stager?
You might think that hiring a home stager is unnecessary to get your investment property sold. But in many cases, a professional home stager can bring you back the costs and much more. Here is a list of benefits that real estate investors and real estate agents can take advantage of when hiring a home stager:
You give up the stress of putting a property up for sale
When you hire a home stager, you don’t have to worry about how the place will appeal to property buyers. You can sit and relax and watch your property get sold!
You will have a competitive advantage
A home stager is going to give your investment property an edge! He/she can paint your property in the best light; all thanks are given to their expertise in home décor.
A home stager already has a network
Along with any career comes the network of professionals you build around it. To get a property staged, a real estate stager is going to need painters, handymen, movers, furniture, and many other accessories. This network helps you as the property seller and the home stager to get the best possible price for such services. Accordingly, this translates into less cost on your behalf when selling a property. If you’re wondering how to build a real estate investment network of your own, read this blog post: How to Build and Maintain a Real Estate Investment Network.
A home stager is going to help you in selling your place faster
Hiring a home stager can help you avoid having your investment property sitting and waiting for a buyer to come! In any case, a home stager can make a property appeal to buyers by highlighting the focal points of a property in the subtlest ways. Not only you will be selling a property faster, but you will also sell it at a better price and ultimately a better return on investment for you!
For a property seller, it’s quite normal to have painted the property in a certain way in your head. Here comes the part where home staging takes a course of action! A home stager takes a different perspective than the one you already have on the property. He/she might suggest things you were not aware of. Things as simple as moving the living room set or part of it to the main foyer. You’d be surprised by how much an expert can change a space with the right materials.
Alternative ways to home staging
If you’re the penny pincher type of real estate investor and looking for ways to get the work done, read these few tips we’ve collected for you:
Decluttering does the magic
If you go on a rampage and declutter your investment property of the unnecessary items, you’ve already done half the job. We all know of the dangers of clutter! You need to create a clean, crisp look. A great tip is to leave most counter spaces and surfaces empty. This gives a calming and inviting feel from any room.
Work the furniture
Well, we all know the standard couch settings that most houses have. A couple of couches grouped together in a corner may not be the best thing to showcase your investment property. Don’t be afraid to move the furniture and see what works best for your space.
Work the lighting
Ask any decorator or home stager about the most important thing in a space and they will tell you lighting! Lighting hits every part of the room. Every angle and every corner! Make sure you clean the windows to let the maximum amount of natural light in. Another great tip is to spread out a selection of table/floor lamps around the property.
Make your space bigger
The best tip you will get for making a place look bigger would be to paint two rooms the same color and join the spaces together. Another great trick would be getting drapes from ceiling to floor to give the room a larger feel.
Keep it neutral
When you are staging a property, you don’t want to go overboard with a certain style. You need to keep things minimal and neutral for the future property buyer. Imagine a property with a really busy wallpaper. Now, the property buyer might have different preferences when it comes to decorating choices; you don’t want to overwhelm the buyer when inside the property. You want to give him/her the space to imagine a life inside the property. Many real estate investors go for creams and light coffee colors with paint.
Deciding between going for professional home staging experts or doing the job yourself is a choice every real estate investor will have to make. It’s about maximizing your return on investment and exploiting the investment property features to your advantage as a property investor. So, start real estate investing and benefit from the vast world of opportunities.
If you have any more insights on home staging, please share them with us in the comments section.