It is safe for us to say that proper home staging is a method of visual merchandising. What you do here is incorporate some of the fundamental principles of interior design or concepts into your home to enhance your property’s visual appeal sans drawing undue attention to it.
When you style up a house for the property market, that is analogous to how a guy, characterized as being a dapper, can dress himself up without drawing too much attention to his apparel. Both have something in common.
The Relevance of Home Staging
Sometimes we deal with a financial transaction. This can be as important as when you sell, say, your home. If you are a homeowner, wanting to put your property in the realty market and sell it, you would naturally not want to settle at a lower selling price. You would not want it to be in the property market for a long time.
In terms of time and money spent, staging can be one of the most profitable endeavors you can pursue. Potential buyers nowadays aren’t just searching for something to live in; underneath their intentions to find a suitable space of their own, there is a deeper meaning to them.
They need to find a property that will be instrumental in pursuing their aspirations and thus bring them a step closer to the standard of living they’ve always wanted.
Staging a home, when done the right way, can stir up a potential buyer’s emotional side. If that happens, it could result in a higher sale price for the property in question.
Another important reason why we say DIY styling your home can be very advantageous is because prospective buyers are repelled by the idea that they need to work on something before they can move in.
If the house you want to market and sell will need to be worked on first before a buyer can move in, that is likely to become a turnoff right away.
The usual practice when prospective buyers discover something that needs a fix is to subtract the cost of the repair work from their offering price. If they uncover too many issues to deal with, it will be a lot easier for them to just forego purchasing the home entirely and look for a better deal somewhere else instead.
Home Staging and Its Impact on Property Sale Price
An increasing number of real estate agents have come to believe (as found in the 2019 NAR report) that staging a home raises the value of the property between 1% and 5% relative to other houses on the market.
How Staging Affects Sale Price and Time on the Market
According to research conducted by the National Association of Realtors (NAR), they found out that approximately 83% of buyers’ agents claim staging the property makes it easier for them to envision it as their ideal dwelling.
Staging a home is beneficial because it translates to quicker and higher-concentrated sales. According to 51% of real estate agents, staging and DIY styling reduce the amount of time a residential property will have to spend on the realty market.
In Relation to the Covid 19 Pandemic
As a result of the COVID-19 scare, the home buying and selling process in the country, and perhaps everywhere else for that matter, has no other way but to completely transform itself. Otherwise, the industry of home styling will not stay afloat.
Despite community lockdowns and the gamut of restrictions imposed by those in authority, the real property sector, together with the homeowners, resorted to taking advantage of the DIY styling approach when staging a property.
Staging, industry experts say, will remain an integral part of the real estate business and the property market. Simply because residential spaces that are well-executed look exceptionally good in marketing photos.
And since the vast majority of property buyers nowadays prefer to look for a house to buy online, it makes sense if they will invest in producing good and high-quality online marketing photos. This will significantly help them in attracting the most interested buyers.