Home Staging 104: What’s This Really Going to Cost Me?

I know I can say that Home Staging is an investment until I’m blue in the face, but until you’ve done it and seen the results, you will likely feel that it’s just another cost in a long list of expenses when selling your home. So let’s de-mystify the process and show you why it truly is a minimal investment towards the higher selling price of your home.

The first truth is that you do have to spend money to make money. This is true of any business venture or transaction, and don’t be fooled, selling your home is a business activity. In the words of Jerry McGuire;

Show Me the Money!

It is generally very hard to get any short-term return on anything you do to your home; even the best renovations may only give you a 30-70% return in the short-run….which is why staging should rarely involve any renovation projects. However, the tasks that are most commonly implemented in staging, such as upgrading light fixtures, paint, de-cluttering, etc, can net you as much as a 400% return on your money. (see stats at www.stagedhomes.com).

My whole guiding principal with Home Staging is that I only ask for you to spend money when there’s a return involved. For instance, I might ask you to spend $1 to stage your home, and you will see the selling price of your home rise by $4. Isn’t that worth it? And often, if you do such a good job that you have multiple offers on your property, the sky is the limit as to what someone will offer you over asking price.

Before

After

A good estimate for those looking to do the majority of the work themselves is to estimate a budget of 0.5% – 1% of the price your realtor recommends you list your house for. Often the size and location of the house is the biggest indicator of price, and of how much work needs to be done.

It is true in life that you get what you pay for. If your main concern is to pay as little as possible to sell your home, you will only find buyers who will pay as little as possible to buy it. If you are interested in getting top dollar for your home, get professionals on your team who will help you attract buyers who will love your home and pay more for it. In the end, you will decide whether you believe in minimizing your costs, or maximizing your return!