You have just taken months to rehab your investment property and you have spent thousands of dollars doing so. You purchased the property, materials, paid for construction, paid fees for closing, and now you are ready to sell the property and collect a profit. So what’s next?
WHAT IS HOME STAGING
“Home staging is the act of preparing a private residence for sale in the real estate marketplace. The goal of staging is to make a home appealing to the highest number of potential buyers, thereby selling a property more swiftly and for more money.” The best real estate professionals including investors, agents, and rental companies use staging to quickly sell a house and to sell it fast. It simply works. According to StagedHomes.com, “The average sales price of a staged property is 6.9% higher than a non-staged property.” Also, “Staged homes typically sell 50% faster than non-staged homes.”
Home staging is much like an illusion or enhancing a buyer’s imagination. A buyer looks at a home and thinks about if they could see themselves living there or not. If the house is bare, it will make the house come off as empty, lonely, and cold. Not too many people will want to live in an empty house. Staging your house can give the homebuyer a good first impression as soon as they step into the house and see how much it looks like “home”. First impressions are important because there might not ever be a second impression. There is a high conversion rate of sale with staged houses compared to non-staged houses.
Everyone has their own view on what looks good and what doesn’t. Beauty is in the eye of the beholder. However, there is beauty that looks good to a large majority of people. An example of something that is appealing to most people would be a sunset over a beach, it makes most people feel good. An example of something that may look good to one person and not look that great to others is your 1989 Honda Civic. When staging, you want to neutralize the appearance of the house meaning that you will want to stage the house in a way that is appealing to the majority of potential buyers that view the home. You can get some ideas from home décor magazines and televisions shows. Most of the time, the examples from these sources are appealing to most.
MAXIMIZE YOUR SALE
It is wise to not leave your home looking vacant. When your potential buyer views your property, you do not want them to walk into an empty home. You will not want them to walk into an empty bedroom and have them guessing if their bed and furniture will fit in the space. Often times, an empty room could look smaller than a staged room. For that little space in the hallway by the bathroom, stage it with a mirror, a table, or a flower pot. Make it useful. You will not want your potential buyer asking you “What would I use that space for?” Staging is a work of art just the same as rehabbing a home. There are professionals whom you can hire to stage your home when it is ready to be placed on the market. If you want to maximize your profits and sell your project quickly, consider home staging.
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