6 Compelling Reasons to Stage your Home in a Seller’s Market
If you are putting your home up for sale in a seller’s market, you are in a great position. A seller’s market is all about supply and demand - a lot of people want to buy a home, and there are not enough homes for sale to go around. You can expect prices to go up in a seller’s market because of the intense competition for homes.
Maybe you’re a seller who is thinking that staging is not really necessary in a seller’s market. If that is what you believe, think again.
While there is strong competition among buyers in a seller’s market, you will face competition from other sellers when you list your home. It makes sense to give yourself every advantage when you decide to put your home on the market. Staging your home can give you the edge you need to sell quickly at a good price.
What is Home Staging?
Home staging tells the story of what it will be like for buyers to live in your home. Staging is not the same as decorating. When you decorate, you choose items that express your own personal tastes. When you stage your home, you are showing buyers how comfortable it would be for them to live there.
Remember, you are not just selling a house. You are selling a lifestyle - your homebuyer’s lifestyle.
Staging encourages buyers to picture themselves in your home. Your professional home stager will use techniques to create an inviting atmosphere that appeals to a range of people. Stagers know how to depersonalize your home, keep the color palette neutral and let the sunshine in to show off your home at its best. A staged home showcases “lifestyle vignettes” that help buyers visualize areas where they can spend time with family, work remotely and entertain guests on happy occasions.
Here are some important reasons to stage your home professionally, even in a hot seller’s market.
Professional Staging Makes Buyers Fall in Love
Like other real estate professionals, stagers know that when your home stirs emotions in the buyer it can lead to a higher offer. In a hot seller’s market buyers feel a sense of urgency that can lead them to make an offer quickly. An expert stager can create an exceptional first impression, starting with the front door and entryway and on to every room in the house, including the outdoor patio.
Stagers know all the tricks that can make your buyers fall in love with your home, like playing up natural light to appeal to the senses and creating cozy seating areas where buyers can imagine relaxing with family and friends.
Staging Helps You Make It Through Inspections
Once you accept an offer, you can expect the homebuyers to have a home inspection. They will want to learn about the condition of your home and they may be required to have an inspection as part of the appraisal process to obtain a mortgage. The home inspection is a top to bottom examination of your home, inside and out.
The inspector will look at the exterior, the roof, plumbing, the electrical panel and HVAC systems. It is rare for a home inspection to come back completely spotless. But according to the National Association of Realtors, more than 25% of homebuyers are more willing to overlook property faults when the home is staged.
Staging Encourages Buyers to Overlook Needed Repairs
In a seller’s market with rising prices, your homebuyer may be stretched to the limit financially. When buyers see a house in need of repairs and updating, all they see is dollar signs. The thought of renovating a home with issues like bright colors on the walls and unfinished projects can be a red flag to buyers who are not looking for a costly to-do list.
Professional staging can help make your home look as new as possible so buyers feel they can move right in. Your stager can suggest updates that have the greatest impact, and they will play up your home’s strong points while downplaying its weaknesses to produce the sense of a comfortable lifestyle. The goal is to create a move-in ready appearance so buyers are willing to overlook needed repairs.
You Will Get Amazing Photos with Staging
Homebuyers typically get their first glimpse of your home online. A whopping 85% of buyers list photos as the number one factor in choosing the homes they want to see in person. Home staging can produce outstanding photos to give you an advantage over the competition.
When your home is listed online, it is likely to receive three times more views in the first week than at any point thereafter. A staged home results in better photos, which can get you even more views.
Staging is Tax Deductible
Here's some good news you might not know. If you hesitate to hire an expert to stage your home because you don't want to incur additional expenses, you should know that home staging is tax deductible.
That's because home staging is considered an advertising expense by the IRS. You can subtract the cost of home staging from your profits when you sell your home. That decreases the amount of taxes you will be expected to pay.
Home Staging Pays Off
The bottom line is that staging your home for sale is an excellent investment. When you stage your home you create buzz among realtors and homebuyers, your home will spend less time on the market and you can expect a higher offer. The 2019 National Association of Realtors report says that staged homes can sell for up to 17% more than unstaged homes.
The best time to stage your home is before you list it. With professional staging, your amazing online listing photos will entice homebuyers to see your home in person instead of scrolling on past to the next listing.
Michael DeRosa Exchange offers a unique approach to real estate, including staging, photo styling and market preparation services exclusively for clients to give them an edge over the competition. For further information about buying or selling a home, visit kelliide.com.
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