During the last few
years, sellers who staged their homes for sale
reaped huge profits. It was a seller's market in
which buyers grossly outnumbered sellers. There
were plenty of buyers who were willing to pay a
premium for a home that looked like a dream.
But, the market has changed. Will staging still
payoff for sellers in a today's softening real
estate market?
Some sellers will shun
the idea of fixing up their home for sale
because the upside potential, or return on the
dollars invested, is limited. When the market is
racing upwards, it's easy for sellers to justify
putting money into preparing their homes for
sale. But, why make the effort if the potential
reward is diminished?
The best reason to
consider improving the look of your home before
marketing it is to improve your chances of
selling in a more challenging market. Most
buyers are turned off by a messy, dirty,
tired-looking home. This is particularly the
case when there are plenty of listings to choose
from, as there are in many areas today.
Some staging projects --
like painting and changing worn floor coverings
-- usually do payback a premium on the amount
invested. But, even if you were to only recoup
the money you invested, it would be worth the
effort if it improves your chance of selling and
reduces the amount of time you're on the market.
It may be even more
important to stage your home in a softening
market than it is in an extremely low inventory
seller's market, such as the one we are leaving.
Most buyers have difficulty envisioning how a
house will look cleaned up. First impressions
are lasting. If your home smacks of deferred
maintenance, it will leave a negative impression
with most buyers.
HOME SELLER TIP:
Staging your home for sale needn't cost you a
fortune. There's a lot you can do yourself to
improve the appeal of your home. If you've lived
in your home for several years, you probably
have too many possessions. De-cluttering the
living space does wonders to enhance the
appearance.
Pack
up knick-knacks and family photos. They are
distracting. Remove excess pieces of furniture,
particularly small pieces like end tables and
footstools. A lot of small rugs make a room look
smaller. Consider removing some or all of them.
House and outdoor plants
add warmth and interest. But, avoid arrangements
of small pots. One large plant, or large planted
pot, is usually preferable to a lot of little
pots.
Pay attention to the
traffic flow in your home. Furniture should be
arranged so that prospective buyers will have an
easy time navigating your home. Buyers should be
able to walk through a room without being
impeded by a piece of furniture.
In most cases, the
bigger a home appears the better. If your
hallways are narrow, remove furniture to create
a more spacious appearance. Under furnished is
often better than over-furnished. You should
strive for a spare, but not bare, look.
After living in your
home for years, you may have difficulty
transforming it from cluttered to inviting on
your own. It helps to engage a neutral party to
assist you. A few hours spent with a decorator
who specializes in helping sellers fix up their
homes for sale may be all that's required to
plan the transition.
THE CLOSING:
Curb appeal is important, so make sure that your
home creates a good first impression when viewed
from the street. Some buyers won't even consider
buying a home unless it looks appealing on the
outside.
