On our last blog, we shared some of our favorite tips for selling your home in the Memphis area. The blog discusses the importance of curb appeal, which is typically the first impression someone has of your home – seeing it from the outside.
While curb appeal entices a potential buyer, what truly makes the sale is the home’s interior. Once a shopper is in your home, it is important that they can see themselves staying and making a home within your walls.
A trend that has become increasingly popular in real estate is staging.
What Is Home Staging?
While staging a home for sale is not a necessarily new concept, its value and importance has risen dramatically in recent years.
In our world of picture-perfect Instagram photos, Pinterest boards, and HGTV house-hunting shows, expectations are soaring among homebuyers who are looking for their dream home. Now more than ever, homebuyers are turning to online resources first, searching on websites (such as our Property Search page), mobile apps, and social media for the latest listings.
Home staging is a way to give your home an eye-catching quality, compelling an online home shopper to become an in-person, potential buyer.
How Do I Stage My Home?
The first step to staging your home is to talk to your Marx-Bensdorf Realtor. Your real estate agent is experienced in identifying the following:
- Your home’s weaknesses – what is a buyer going to see and immediately dislike? Is it the wallpaper in the kitchen, the messy closets, the dingy carpet in the living room? Whatever the low points in your home may be, your Realtor can help identify them and help you make proper improvements.
- Your home’s strengths – conversely, your agent can quickly see what makes your home unique and sellable. Finding areas in your home to highlight – such as hardwood floors, an open layout, updated bathrooms – can go a long way.
- Quick fixes versus long-term projects – after narrowing down on your home’s strengths and weaknesses you, with the help of your agent, can make a list of projects and a basic timeline to consider. Sometimes, quick fixes can be as easy as buying a new shower curtain or putting some of your possessions in storage; other times, larger projects, like installing new kitchen countertops or a new roof, can take more time and money.
- Your desired buyer (and price) – your Realtor has a pulse on the housing market in the Memphis area and knows what potential buyers are looking for in a home. For instance: say you own a starter home, but your family has grown out of it. Your Realtor will know what trends and must-haves are common among those who are looking for a first home. Once you know your targeted buyer and their “must-haves” in a home, you will get a sense of how much to do and how much to spend on staging.
- Vendors to help in the staging process – you may not know where to begin when tackling your home staging projects; however, your Marx-Bensdorf real estate agent does. Marx-Bensdorf, REALTORS, recently awarded Best Real Estate Agency for the third year in a row, has experience with many businesses in the area. Whether you need an interior designer, home stager, or contractor, your Realtor can suggest reliable, reputable companies who have proven track records.
What Is My Return On Investment For Staging My Home?
You may have just read the list above and thought, “hold on – how much is this going to cost me?” Keep in mind that whatever you don’t do may be a barrier to buyers. In that case, buyers may overestimate the repair cost significantly, and go on to a prettier home.
As the saying goes, sometimes you have to spend money to make money. Making improvements and updates to your home goes a long way in determining how quickly and for how much your home will sell.
In a recent report by the National Association of REALTORS®, 2015 Profile of Home Staging, these findings show the true value in home staging:
- 81% of buyers find it easier to visualize living in a home when it has been staged.
- 32% of Realtors believe that staging a home means the home will sell between 1-5% higher than its value.
- 16% of Realtors believe that staging a home will cause a home to sell 6-10% higher.
- 49% of Realtors say home staging affects a buyer’s view of a home significantly.
- 45% of Realtors believe home staging will positively impact a home’s value when it matches the taste of potential buyers.
- The median dollar amount spent on home staging is $675.
Any Quick Tips For Home Staging?
In addition to a basic home cleaning – eliminating dust, cobwebs, and odors – we have a few ideas to improve your home instantly. Follow these steps to get started staging your home:
- Make Room – Your home needs to appear spacious. If it doesn’t, clear out as much furniture as you can. Put furniture in storage, and sell or donate older pieces you no longer need.
- Counter Intelligence – Clear all horizontal surfaces, especially bathroom and kitchen countertops. De-personalize your rooms, removing magazines, mail, and personal photos.
- Move-In Ready – Most potential buyers don’t want to do work. Remove worn wallpaper, replace old carpet, and change outdated light fixtures. Quick, aesthetic updates make a big difference.
- Learn To Love Neutrals – Paint is a relatively inexpensive way to make your home fresh and clean. A neutral home sells faster! Neutrals are also quick décor fixes – swap out an older bedspread for a sleek, clean white comforter.
- Take It Outside – Not only are buyers interested in indoor space, they also want a nice outdoor space. Make sure your outdoor space is clean and attractive, through power-washing, planting flowers, and hanging up a string of bistro lights to make the space seem inviting and fun.
Mid-South Home Staging Specialists
At Marx-Bensdorf, REALTORS, our agents know the Memphis-area housing market from all angles. Our agents know that staging is an effective way to find the right buyers and to sell your home at the right price.
If you are ready to sell your home, and you’re interested in increasing your home’s value while expediting the selling process, contact your Marx-Bensdorf real estate agent today.