Home staging is the secret to getting the most profit out of selling your home
Are you planning on selling your home? Have you wondered about home staging and if the cost of staging is really worth the outlay? Our statistics show that our home staging service pays for itself many times over! See our blog post, Home Staging Statistics 2014 for details concerning our 2014 statistics.
In the infographic below, based on our 2014 home staging statistics, you can see the amount of money that can be saved as a result of home staging a $500,000 home:
The infographic shows that our professional home staging service will help sell homes 78% faster and for 12% more money on average than unstaged homes. These figures demonstrate that a staged home with a market value of $500,000 will sell at its asking price in 33 days.
The cost of staging for our most popular home staging package is always less than 1% of the value of the home. In most cases, the cost of staging is a good deal less than 1%. We base our pricing on the amount of time we expect will go into choosing inventory, the amount of inventory, packing that inventory, staging and destaging the home. If rental furniture is needed, that cost is added in as well. If our cost to stage calculates to be more than 1% of the home, we will stage only the key parts of the home to keep the cost under 1% for our Get It Sold package. Assuming that this home has a monthly carrying cost of $2500 and home staging costs .99% of the market value ($4950) the infographic shows the same home when staged and unstaged.
The staged home is under contract for full asking price, $500,000, in 33 days. The owner spent roughly $2,750 on carrying costs (mortgage, taxes, and utilities) for the time the home was on the market and the cost of staging was $4,950, which totaled $7,670. Excluding any fees the homeowner paid to a real estate agency, the homeowner had received a net profit of $492,550 before paying off any mortgage that is owed on the home.
The unstaged home is under contract for 88% of asking price, $440,000, in 147 days. The owner spent roughly $2,500 on carrying costs (mortgage, taxes, and utilities) each month for the nearly five months the home was on the market, which totaled $12,250. Excluding any fees the homeowner paid to a real estate agency, the homeowner had received a net profit of $367,750 before paying off any mortgage that is owed on the home. Let’s extend the example out farther, and assume the home owner is paying the real estate brokerage a 6% commission ($30,000 for the staged home and $26,400 for the unstaged home), and there is a mortgage of $350,000 owed on the home. The home owner who pays the cost of staging will net $112,330 while the homeowner who chooses not to stage will net $63,600.
The emotional and financial stress of having your home on the market can be very difficult for some people. For example, the home owners may have already purchased their next home, and the financial burden of carrying two mortgages could be very nerve-racking. For some people, the strain of keeping the home neat and clean during the “showing phase” of the home being on the market is inconvenient and in many cases quite stressful, especially if the homeowner has children or pets.
Staging your home for sale will help you sell it faster, and for more money than if you didn’t stage. The cost of staging is an investment that will pay for itself many times over!
Download our free Savings by Staging worksheet to learn how much money our home staging service can help you save.
If you would you like to know what the cost of staging your home would be, call us at 781-489-8489 to schedule a FREE in home consultation to learn how we can help you maximize your biggest investment!