How Can You Raise the Value of Your Property Through Home Staging
Staging, according to the Real Estate Staging Association (RESA) is the preparation of residential or commercial properties for sale in the real estate marketplace. It’s bringing the property up to a level that will appeal to a larger number of potential buyers for the highest price possible. Contrary to general belief, home staging differs from decorating in the sense that decorating a home reflects your personal style, while staging is a way to show your home’s assets and promote it to a larger pool of buyers.
Especially with the pandemic, having photos, videos, and virtual tours of homes has become more important since these have helped buyers plan their in-person tours and potential purchases. A 2020 survey from RESA has shown that 85% of staged homes were sold for 5-23% over listing price and sell faster, with an average of 23 days on the market. With a significant financial transaction such as selling your home, you wouldn’t want to settle for a lower selling price and a longer selling period. Here are a few ways of how you can raise the value of your home through home staging.
Clean and declutter
If your appliances or furniture aren’t new, make sure everything is spotless. Clean tables and countertops, dust visible surfaces and straighten up linens. The goal is to make the home appear brand new. Declutter, put away things not used daily and other seasonal items or decorations, and dispose of things not needed, the more empty space, the better.
Remove personal touches
To make your home appeal to others more, keep picture frames, personalized items like monogrammed pillows and towels away. Put away clothes hanging on chairs, drawings and notes posted on the refrigerator, certificates or diplomas hanging on walls. Make your home feel like anyone can settle in it versus show who currently lives in it.
Freshen everything up
Your current wallpaper and paint-color choices may not appeal to everyone. It’s best to strip old wallpaper and old paint jobs and use warm neutral colors to make it easier for potential buyers to envision how they would decorate the space in the future. Remove old and soiled carpets and opt for lower maintenance options like hardwood floors, ceramic tiles, or high-quality vinyl tiles that mimic these materials, which could also appeal to people with allergies. Maximize your home’s natural light, have curtains and blinds, and have all the lights on when staging your house. Brightening your home when staging can make the place appear bigger and is more appealing to the eye.
Your entire house need not be staged, but clearly defining the living room, kitchen, master bedroom, dining room, and bathroom can help potential buyers envision themselves living in the space better.
Address any repairs
Selling a home in need of repairs may not be as easy as selling one with little to no repairs needed. Before staging your home, ensure to check for molds and damp spots around the house, look for light fixtures that may need repair or replacement, and look for cracks in walls and ceilings and other foundation problems. You could alert potential buyers about these problems, but getting these fixed will be better to get the house sold quicker and at a better price too.
Once you’ve taken care of the interior of your home, don’t forget about the exterior. The exterior of a home can impact a potential buyer’s first impression of a home since this is the first thing they will see when they make their visit. Get rid of weeds, mow your lawn, make sure shrubs, bushes, and other plants are pruned. Make sure that your windows are clean as well, and if you’re unable to repaint the exterior of your home, you can opt to power wash it to give your home a fresher, newer look. You can also replace doormats and clean up lawn tables and chairs you have outside.
When opening your home for showing, adding a few finishing touches can help pique potential buyers’ interest in your home. Give your living room a fresh look by adding some indoor plants or flowers in vases, light subtle smelling candles in the bathroom and bedroom, and have clean linens in every room.
Staging a home doesn’t have to cost much, but make sure the home’s best features are highlighted when you do so. Stage your home to appeal to a wide market but also consider what would make the home usable to potential buyers. Staging your home to appeal to a wider market will get you more offers, in turn, increasing the value of your home as well.