Selling your home can be a challenging process. Learn why staging it can actually benefit you in the long run.
Putting your property on the market can be a stressful time with many factors to keep in mind. This includes following market conditions to list your home at the best time and deciding on an asking price. Additionally, you may have to improve your property’s condition to prepare for potential buyers.
Currently, the average time it takes to sell a home in NYC is around 89 days. Other words, it may take at least 54 days on average to get an offer plus a 35-day closing period. With all these factors affecting your home sale timeline, is home staging worth the extra cost or time?
Staged home vs. not staged home
Like any other seller, you may want to sell your home as soon as possible. As a result, you may view staging your home as an unnecessary time and cost consuming task. Contrary to belief, staging before selling is just one important factor that affects your home sale timeline.
Due to this, a not staged home on the market can perform differently than a staged one. Let’s break down their differences.
The pros of staging your house:
- Shows your property in the best possible light
- Lets potential buyers imagine themselves in the space
- Can get you a better asking price compared to an unstaged home
- Can increase your chances for a sale
The cons of staging your house:
- Doesn’t conceal your home’s flaws
- It costs money for cosmetic retouching and decorating
- Time is needed for staging your home
The pros of a not staged home:
- No extra costs required
- No extra time needed to prepare your home
The cons of a not staged home:
- Doesn’t give a purpose for every room in the house
- An empty house looks smaller
- Doesn’t de-personalize the house to appeal to the overall buyer if your house still has all your items in it
- Your home may not have curb appeal
Benefits of staging a home
The extra costs staging comes with may be a larger investment you had expected to shell out. Then, is staging a home worth it? You’ll be surprised to know just how well a staged home can appeal to potential buyers. If the pros to a staged home doesn’t have you convinced yet, here are a few benefits to staging your home.
1. Sell your home faster
Staging your home can help shorten your home sale timeline. This is because staging increases your home’s curb appeal even before potential buyers step foot into your home. Improving the look of your space also puts your listing above other competition on the market. This is because staging helps de-personalize the space. Therefore, it allows the buyer to see themselves in the house and how it can be a good fit for their family.
In fact, a 2017 National Association of Realtors (NAR) survey says that 77% of buyers’ agents said home staging made it easier for buyers to see it as a future home. In addition, 39% of sellers’ agents said staging a home largely decreases the amount of time it stays on the market.
2. Let buyers know your house is well-maintained
Many buyers visit home tours in order to see if the house looks the same in-person as it does in online listing pictures. Since staging includes basic repairs and cosmetic fixes, you can ensure your home will be the best condition for buyers. By staging your home, you are also creating a visually appealing space that puts potential buyers’ minds at ease.
3. Highlight your home’s features
Your home may have plenty of beautiful qualities that can entice buyers. This can be anything from built-in shelves, an open layout, or a large living area. It would be harder for buyers to see these qualities if your home is still filled with your belongings.
Through staging, you can help showcase these features in a better light. With decluttering and the deliberate placement of furniture and accessories, your home will be taken to the next level.
4. Help justify your asking price
Little things such as cosmetic retouching and decorating can increase your home’s perceived value. Something as simple as a new coat of paint or new cabinet hardware can improve the look of your home. Moreover, staging your home can bring out your home’s potential. Not to mention, buyers’ first impression and emotions when viewing your home can influence how much they are willing to pay.
According to a 2017 NAR survey, 33% of buyers’ agents said staging a home increased a home offer amount by 1%-5% compared to not staged homes.
5. Your house will look larger
Listing your home unstaged and empty can make the space look smaller. This is because buyers could have a hard time visualizing how empty space can be utilized. On the other hand, if you have all your furniture and belongings lying around, the home can feel cluttered.
Home staging will help arrange furniture to make the most of the usable space in your home while removing unnecessary items. Furthermore, staging can give each room a purpose. As a result, buyers are able to visualize how each room in your house can be used for their family.
6. Best simple tips for staging your house
Staging your home can seem like a complicated process. However, there are simple steps you can take to stage your home before you put it on the market. Here are just a few tips you can use to effectively stage your home:
7. Get rid of clutter
The first step to staging your house is to clean. You can start packing your personal items into boxes. By removing all your items, it creates more space and makes your home look bigger. Once you have removed all the clutter, it’s time for some cleaning, Make sure your home is free of dirt, dust and odors.
8. Think about lighting
Lighting is an important part to staging a house. This is because bright rooms feel more appealing compared to a dimly lit space. Similarly, a room can look cleaner when it is brightly lit. Make sure you open your curtains or blinds in all the rooms. You can also replace your light fixture bulbs with ones that emit a whiter light.
9. Decide the purpose of each room
Make sure you know the purpose of each room and how you want to stage it. By giving each room its own purpose, buyers are able to visualize how the space can be used. For instance, if you are using a room as a family room and office space, consider staging it as only one or the other. You can also choose to stage important rooms in the house first. This includes the living room and master bedroom.
10. Remove your furniture and rent new pieces if needed
Just as removing clutter in your home is needed to make your home look bigger, removing unnecessary furniture does the same. Take a look at your furniture to see which ones look showroom-ready and take out the ones that don’t. Then you can rent needed pieces for staging afterwards.
11. Finishing touches
Once you have finished staging your home’s furniture, you can add in little extra touches. This can include leaving props for each room. An example would be a vase with flowers on a shelf or folded towels in the bathroom. The idea is to make your home look welcoming rather than sterile and cold.
Available NYC staged listings:
- 603 West 148 Street, #3A West Harlem, New York ($849,000) – 2 beds, 2 baths, 1,140 sqft
- 1 West 67 Street, #506 Upper West Side, New York ($3,750,000) – 2 beds, 2.5 baths
- 116 East 63 Street, #7D Upper East Side, New York ($2,350,000) – 3 beds, 3 baths
With these easy tips, you can now easily stage your home before selling it! If you are looking to move in NYC, Localize has all available listings for you to look through.