Should I Stage My House? (Part 2)
Yes! Yes! Yes!
If you read my first post about Home Staging, you will know that I did not initially use a home staging service prior to putting my house up for sale. After 4 months, our house didn’t sell so we took it off the market and decided to change tack. We had watched a neighbor put their house on the market, wait three months with no offers, delist it, stage it, and put it back on the market 2 months later for $30k more than their original asking price. The house sold in 2 weeks!
If home staging worked for our neighbors, we felt strongly it would work for us too. After interviewing a couple of staging companies, we hired Loot Vintage Rentals to work their magic and the results are amazing! Our house has now been back on the market for less than a week and we have had more showings, more interest, and much better feedback than the first time around. And all of this was in mid-winter, arguably a much harder time to sell a home than early summer.
Although our house has yet to sell, we are feeling much more positive about it selling soon. Plus, my husband loves it so much, he has asked if we can have Loot come decorate our new home. That is a huge testament!
If you think you may want to use a home staging service, below are some answers to my initial questions which may help you along the way:
What does it cost to have your home professionally staged?
Most companies charge a fee for an initial consultation ranging from $300 – $600. Then, an initial staging fee is charged followed by a monthly rental amount. Initial staging fees run about $1 per square foot and monthly rental costs are typically $500 – $600 per room per month. So, a 2000sf home would cost about $2000 to stage plus a monthly rental cost of about $2000 – $2400. Most staging Companies would require payment of the entire month’s rental even if the house sold within a few days.
As our house was a bit bigger than most and we had a lot of outdoor spaces to stage, we ended up paying a bit more but we felt that the result was worth it. And, hopefully we won’t be paying a monthly rental cost for long!
Do you need to stage every room?
In short, the answer is “no”. The important rooms to stage are rooms that are immediately visible from the entrance to your home, any shared living spaces, and the master bedroom. It is not as important to stage secondary bedrooms.
We decided to stage our whole home to tie it all together, plus, it made the most sense based on the size of our home and the price point. That said, we all agreed that the most important spaces were the formal sitting room near the front door, the formal dining, the office, the family/living room, and the Master bedroom. As many of these spaces had been repurposed while we were living there, prospective buyers had a hard time envisioning these spaces as the rooms they were designed to be. For example, we had used our formal dining room as a play room and we had many questions about the true purpose of the room.
What do “home staging services” include?
Is Home Staging Worth The Cost?
According to a study conducted by the National Association of REALTORS® (NAR), homes that are staged sell faster and at higher prices than those that are not staged.
Plus, according to real estate agents, marketing a staged home is much easier than marketing a vacant house. Well decorated rooms can be professionally photographed and used to advertise the home on the MLS and other real estate publications and sites. Given that an estimated 90 percent of all home buyers search online for homes, having colorful photos of a nicely staged house does a great job of attracting buyers.
Also, homes that have been professionally staged usually sell for 3% more than the anticipated price which makes the process well worth the expense, according to the Mortgage Daily News.