How much value does home staging add?
According to some pros, a staged home can bring in 6 to 20 percent more than the same home without staging [source: Staged Homes]. In a slumping market, however, the goal may be to retain as much of the original price as possible. If you want (or need) to quickly unload your property, you might have to lower the asking price -- but home staging could help you avoid that. Real-estate agents usually recommend lowering the home price about 3 percent after a few months [source: National Association of Realtors]. On a $250,000 home, that's a reduction of $7,500. Most professional home stagers charge less than $5,000. According to StagedHomes.com, 91 percent of homes staged by accredited professionals sell in one month or less. So, if your staged home sells quickly, you could be saving yourself from a price reduction.
According to the National Association of Realtors, national home sales for October 2007 were down 5.1 percent compared to the previous year. If a home is on the market for a year, the homeowner would have to cut the price by an average of 5 percent, so a $250,000 home would be reduced about $12,000.
Most reputable stagers and real-estate agents agree that staging can only help so much, though. If no one is coming to look at the house, it's the fault of the price. But if a lot of people are looking but not making offers, staging can help. The buyers just need an incentive -- and if they see a more attractive house, they can imagine it being worth the price.
Take a look at the links below for more information about home staging.
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More Great Links
- Barta, Patrick. "How to Decide When to Lower Your Price." The Wall Street Journal Guide to Property. http://www.realestatejournal.com/columnists/housetalk/20031107-barta.html
- Center Stage Home. http://www.centerstagehome.com
- "Designed to Sell." http://www.hgtv.com/hgtv/shows_hdts/
- Doerfler, Sue. "Staging the Sale: A professional makeover can add sparkle to houses that linger on the market." Arizona Republic, Nov. 4, 2006.
- Hodges, Jane. "Staging: A home makeover in a few hours." Seattle Times, Aug. 26, 2007.
- National Association of Realtors. http: www.realtor.org
- Owens, Donna M. "Setting the Stage: In a buyer's market, smart home sellers know the right scenery can make all the difference." Baltimore Sun, Oct. 21, 2007.
- Remodeling Online. http://www.costvsvalue.com/index.html
- Schwarz, Barb. "Home Staging: The Winning Way to Sell Your House for More Money." 2006.
- StageHomes.com. http://www.stagedhomes.com
- Stark, Judy. "Identify the values in remodeling." St. Petersburg Times, Dec. 15, 2007.