Home Staging: 8 ways to get more for your home or condo
As a realtor I am often approached by a plethora of service providers all claiming they have what my clients need. The latest the band wagon is home stageing. Home staging is based on the premise that anyone can get a premium price for their home if it is ‘staged’ in a way that it caters to more perspective buyers.
So does home staging impact real estate values? In eight large urban centres, on average, staged homes were found to sell for 6.3% above asking price (while upstaged homes only averaged 1.6%). Recognizing this profit potential, there is no shortage of professionals cashing in on this movement. Many of these professionals are decorators and former real estate agents who are charging as much as $75-150 an hour to show you how to stage your home or condo for sale. Despite this, many of the basic principals of home staging can be done without the assistance of a professional. As a full service realtor I make it my job to educate clients on these principals. Fundamentally as it is my role to assist clients get the most amount of money for their home in the lease amount of time - having a backgound with staging is an asset. For this I draw from the home staging professionals.
As was seen in a recent publication of Money Sense, there are 8 key factors that home stagers such as Vancouver based Dekora advocate:
1.) Make an Impression – Be sure to give your property curb appeal. You don’t notice each and every little personal belonging you have laying around both inside and outside your home (as you pass them numerous times a day). Despite this, every detail goes noticed buy a perspective buyer each and every second they are in your home. Pay attention to details, give your home a ‘look’. If you are catering to trendy young buyers be sure that your house of condo refects this. One of the best tricks is to add a new magazine to the coffee table which reflects the look your going after (such as Architectural Digest, or Vancouver Investor).
2.) Uncluttered – Clutter has been said to eat equity. It is essential to minimize the “stuff” in your house or condo. If you have to jam everything into a shed or storage locker – do it! It’s essential to get your home down to the bare essentials.
3.) Depersonalize - No one cares about you or your family when they are on the hunt for a home so don’t remind them. I always suggest getting rid of all family photos, trophies, and other memorabilia. Also in places like your bathroom get rid of shavers, shampoo bottles, and clutter on the counter. Yes this is inconvenient but remember the goal of this is to get your home sold fast so put up with short term pain for the long term gain!
4.) Keep it fresh & clean - Open the doors and windows. Airfresheners will never cover the stink of a home that has not been kept fresh besides most people hate air fresheners. I suggest using cleaners with a light smell. Candles work but because most people are afraid of fire (particularly in woodframe condos) steer clear of the flames. Its all fine to do a general clean, but, make sure you do a deep clean. Every bit of grime goes noticed – be sure to clean inside, under, behind, and on top of everything right down to the kitchen sink. People love the thought of being able to unpack their belongings into a ‘new home’.
5.) Colour - Paint is the single easiest thing to change on/in a home. Even if you only paint a select few items like the front door, railings, or parts of walls it will make a big improvement.
6.) Reduce Furnishings - When staging your home it’s important to remember its fashion over function. To open the feel of rooms it helps to limit the amount of furniture. Also purchasing a couple swanky accessories also gives the room a fresh modern look.
7.) Light it up - Even if you have a north facing ground level apartment, light is essential. I have been into numerous homes that have the curtains closed and dim lights. But, remember any home looks better when it’s brighter naturally or artificially.
8.) Add some life - Plants and flowers always bring life into a room. I always suggest a planter both inside and out. This makes people feel more at home. Having plants shows you care about your not only your home but also your health.
Whether or your looking to stage your home for sale or simply looking to make it comfortable for entertaining friends and family these above tips can help make your house or condo feel more like a “home”. As a realtor, I make it part of my service to educate my vendors about the importance of making an impression to perspective purchasers. I recognize that the initial interested buyer(s) who come to view the house/condo in the early stages of marketing are the most likely to make a purchase (usually the most motivated). It’s hard to get the best perspective buyers to come back to a home for a second showing if they have been turned off. As the old saying goes: you never get a second chance to make a first impression. For additional infromation see Money Sense (April/May 2005). If you have any questions or comments about home stageing feel free to call:
By: Joel Carcone
Re/Max Crest – North Vancouver
vancouver: 604-961-5365
north america: 1-800-665-1455