Staging your home has never been more important.
In light of COVID-19, in-person showings and open houses are becoming scarce, and the majority of buyers are relying on digital assets — things like listing photos, virtual tours, and 3D walkthroughs. In the case of all three, a clean, decluttered, and well-appointed space is critical.
But there’s more. On top of improving your home’s marketing in a socially distant world, home staging can also mean a higher sales price — at least if you choose the right rooms.
Are you planning to sell your home in the coming months? Here’s why staging may be smart — and where you’ll want to focus your efforts.
Staging and home prices
According to the Profile of Home Staging report from the National Association of Realtors, 44% of real estate agents think staging can improve a home’s sale price.
More than a third say it increases the offers made on a home by anywhere from 1% to 10%, while another 7% say it’s more like 15% to 20% higher. For reference, on a $250,000 sale, just 5% would mean an additional $12,500 come closing day.
In addition to better home prices, agents also say staging equals a faster sale. More than 50% say it either “slightly” or “greatly” decreases a home’s time on the market.
What matters most
All staging efforts aren’t created equal, though. The majority of agents say the living room is the most important area you’ll want to stage, followed closely by the master bedroom.
After that, it’s the kitchen and dining areas, followed by the yard and the home’s exterior — i.e. your curb appeal.
At the bottom of the list are spaces like the guest bedroom, the bathrooms, and kids’ bedrooms. Agents see these as the least important places to stage.
Should you stage your home?
Staging clearly has its benefits, but if you’re tight on funds? Consider focusing on just the more important rooms — like the living room and main bedroom.
You should also talk to your agent about your staging options. According to NAR’s report, about a quarter of agents will actually do the staging for you, while another 15% say they’ll hire a pro to handle the task. Either way, you both win.
And don’t forget: Before you list that home, get preapproved for your new mortgage. Not only can a preapproval point you in the right direction pricewise, but it can also help you stand out from other buyers. In a hot market like today’s, this is particularly important. Reach out to your local Premier Nationwide Lending office to start your preapproval today.
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