Projections suggest that more than 6.7 million Americans will sell their homes in 2022. That’s a little under 10% of US homeowners needing to impress buyers. Home staging is a popular way to boost your sale, attract potential buyers, and perhaps get more money out of the deal. But is home staging worth it in 2022?
What is home staging?
Home staging is when you decorate your home before selling it to encourage buyers to put in an offer. It’s not necessarily the same as renovating and decorating — although these increase property values.
Instead, staging adds a few touches to encourage buyers to see themselves living in the property. You want your home to protect the buyer’s dream lifestyle so that they cannot resist the purchase. Home staging doesn’t have to mean breaking the bank and hiring a professional. After all, a DIY job is still sure to help your home sell.
Does staging your home help selling?
Whether or not staging your home will help it sell depends on the property and how you style it. However, the National Association of Realtors suggests that 82% of buyer’s agents believe staging makes a difference in a home sale. Moreover, the Real Estate Staging Association discovered that 73% of staged homes sell for $40,000 more than the asking price.
Whether or not staging your home increases its value certainly makes the selling process more manageable. If buyers can see themselves living in the property, they’re more likely to take the next step. However, the apparent downside of home staging is that it inevitably adds another cost to an already expensive process.
The different types of home staging
Not sure if you want to go the entire way? Home staging doesn’t have to be the whole package. Here are some other ways to stage your home.
- Partial home staging: Partly staging your home is a more affordable alternative. The staging company will work with your furniture and possessions to make your property look more attractive rather than hiring elsewhere. For example, they might declutter and rearrange items.
- Virtual staging: Photographers can digitally remove clutter from photos of your house. However, if you drastically change your property, visitors may feel disappointed when they see it in person. Virtual staging is perhaps the cheapest way to enhance your property.
- DIY staging: You could always stage your home yourself. It’s a relatively cost-effective way to improve the home selling process. The downside is that you won’t get expert advice or tools from a professional home stager.
How much does it cost to stage a house?
Hiring a professional staging company could cost anywhere from a couple of hundred dollars to tens of thousands. To understand the actual costs, let’s look at a breakdown of what you’ll pay.
- Consultation cost: The initial design consultation could take a few hours and cost $150 to $600. The stager will give you a quote for the rest of the process.
- Room-by-room staging: Each room might cost $500 - $1,000, or more. The more rooms you have, the more expensive the total cost.
- Furniture rental costs: Some home stagers bring their furniture, which could cost an additional $500 per room.
- Additional fees: Some home stagers charge separately for decluttering and rearranging, likely a flat fee of around $500 - $1,000.
Therefore, a four-bedroom house might cost you anywhere between $4,650 to $15,000.
How to save money on staging costs?
The size, layout, and condition of your home are significant contributors to the cost of home staging. A small, vacant property is far easier and cheaper to stage than a large, complex building with clutter.
To save money, consider only staging the most important rooms. For instance, as 84% of homebuyers say they decide on a property when walking through the front door, staging the entranceway will give your buyers a good first impression.
Other factors to consider
On top of staging your home, you need to consider whether the property needs any urgent renovations or repairs. After all, there is little point in making the house look pretty if you have several plumbing problems, or need to repaint an epoxy floor.
The bottom Line
Staging your home could make the home selling process smoother and help improve the value of your property. However, the cost can add up pretty high. If you want to save money, consider the importance of partial restaging or doing it yourself. Most crucially, make sure you complete any urgent repairs before the visitors start coming around.