What is your buyer’s reaction really worth?
Home Staging – Cost versus Benefit
The price of Home Staging….is it worth it? That is always a question on the minds of home owners especially if their home is vacant.
It isn’t cheap to bring in furniture and have it staged. There is of course the rental fee for furniture but it is also all the labor. The movers, the truck, the staging time to pack everything, stage the home and then come back and pack it all up when it sells.
So is it really worth it?
I recently staged a 1904 three story home that sat vacant for many months. Let’s look at the cost versus the benefit of Home Staging for this architectural jewel in a classic neighborhood of St. Paul, MN
1) The old cliché is true….Home Staging almost always costs less than the first price reduction.
2) In addition, Home Staging is usually less than the carrying costs for one month. Let’s look at the costs involved in maintaining a vacant home:
Mortgage, interest, real estate taxes, insurance, water, heat, air conditioning, electricity, shoveling or lawn maintenance services, cleaning services, and maintenance upkeep.
Buyer after: “Wow, look at the vintage subway tile on the fireplace, check out those bay windows.”
Buyer Before: “What the heck am I going to do with this small room right off the Living Room?”
Buyer After: “What a great room for the kids to watch TV!”
Buyer Before: “This is kind of dark and dreary.”
Buyer After: “Look at this stunning wood and original lead glass windows. And that built-in hutch that is 109 years old – Incredible!”
Buyer Before: “The kitchen is nice.”
Buyer After: “I want this kitchen! The kids will love this bench for eating breakfast every morning.”
Buyer Before: “Huff…ah, ah…after climbing three flights of stairs it better be worth it. This is it?”
Buyer After: “I can’t wait to run up those stairs to get up here every night. I am heading off to soak in the tub and then curl up with a book on that window seat by the fire.”
“Oh….that’s right, give me the papers to sign and make it snappy.”
So…which statements are your buyers saying? What is their reaction worth?
If the difference is getting your home sold in days versus months, may the benefits of Home Staging outweigh the costs?