When it comes time to sell your home, it’s important to realize that the manner in which real estate is sold has changed over the years. In years past, a property’s price and location were enough to sell it because buyers were not as design savvy or picky as they are today. In the current real estate market, the appearance and condition of a home have just as much sway – if not more – than a home’s list price or its location. For home owners this means that in order to sell their home for its true value, they need to ensure that it has been well maintained and also that the house has the modern appeal which will grab buyers from their first online glimpse to their initial visit to the house.
Unfortunately, we find many home owners are resistant to spending any money on their home, to get it ready for sale. This is a short sighted mistake with lasting financial repercussions. If a property has not been well maintained or has a dated appearance with wallpaper or panelling, ugly or older cabinets and 1960’s fixtures then a home owner who chooses to ignore these issues is not going to receive fair market value for their property. Today’s buyers are young, hip and willing to invest more money in a property which has the necessary updates and modern appeal they see on TV and in design magazines. Leaving a property in ‘as is’ condition is a cue for property flippers and real estate investors to come out and present low ball offers which don’t reflect the true value of the house.
This is why we, as professional stagers, recommend investing in key upgrades and improvements which will in turn justify the home’s value. As home staging encompasses all of the prep work such as painting, landscaping, smart upgrades as well as the showcasing of a property with stylish furniture and home decor accents, the return on investment is huge. Should a home owner borrow money to invest in their property before it’s sold? Absolutely. On average, a home owner should expect to invest between 1 – 3% of the home’s value prior to selling. It might sound like a lot but just interior painting alone has over a 107% return on investment (ROI) according to Home Gain’s 2011 survey and home staging or showcasing your home for sale has a 299% ROI! Nowhere else can a home owner invest their money to get that kind of pay off than by taking control of the appearance of their property. Sellers ensure that not only does their home stand out to buyers against its competition, but also that the quality of offers they get will reflect what the home is truly worth.
So when it comes to getting your home ready for sale, pay attention when your real estate agent recommends improving its appearance and investing in the services of a professional home stager. Whether your house just needs some de-cluttering and fresh paint or the property is vacant and needs to be staged, its best to look at these items not as costs, but as investments into your home so that it maintains its value and sells for what it’s worth.
For more information on how to properly prepare and showcase your home for sale, please contact Rooms in Bloom Home Staging & Design Inc. Selected as the 2012 Canadian Home Staging Company of the Year, we have the experience and design talent to make your property stand out from its competition. For more information on Facebook Fan Page and contact us today to book a home staging consultation.