Staging your home for a quick sale.
When the time comes, every homeowner wants to sell quickly and for the most money. So, many of those individuals will go online and research what they can do to produce the best outcome. Inevitably, they will come across one of the hundreds of generic real estate articles recommending home staging. There are many studies that show a staged home will typically sell faster and for more money than those that are not. Regardless, before spending the money, a homeowner must understand that staging does not actually increase the true market value of their house.
Ultimately, the value of your home is the amount of money that a person is willing to pay. Nevertheless, the “true market value” is a technical term and an estimate calculated by an appraiser, usually for the purposes of acquiring a mortgage home loan. The appraisal is unbiased and not impacted by purely cosmetic enhancements. So, homes of a similar age, size, features, and upgrades will often be assessed at a similar market value. Does that make sense to you?
So, the question becomes, “How can home staging increase the sale price if it doesn’t impact the market value.” The answer is simple. Staging transforms your home into a product for sale, with greater appeal to the largest number of buyers. Consequently, the improved buyer appeal will increase demand, which helps sell the home faster. The competition will often inspire higher offers and less haggling. On the other hand, an unstaged home will sit on the market for a longer period of time, and buyers become less willing to pay list price. Therefore, while home staging will not increase the market value, it can increase the final sale price.
Do you have questions? What haven’t we covered yet that is important to you? If you would like to talk about selling a home, or a related topic, please contact us.
Thomas J. Real Estate, Inc is a full service real estate office with 2 locations to better assist you with your sale and purchase of real estate.