You're selling your home in Toronto, and want to get the most money for invesment. If you're still unsure as to whether home staging is going to get you the biggest bang for your buck, let's simply look at the surveys that have been conducted. I've then taken the liberty of creating a breakdown of the cost of carrying a house for you to compare. Please feel free to leave a comment. Check out how I have calculated the money you can save just on carrying costs and how I arrived at $14,700, which is additional money in a sellers pocket. We haven't even scratched the surface on how much more money you will get for your home if it's staged.
- "Staged homes sell, on average, within 35 days of being placed on the market. Homes not staged took, on average, 175 days to sell." StagedHomes.com survey
- "Homes that sold after four weeks on the market sold for 6% less than ones within the first four weeks!" Survey by the National Association of Realtors
- "The staged homes realized on average a 6.4% increase over the list price." Coldwell Banker Broker on 2772 homes in 8 cities
- "Elements that create 72% of the first impression inside the home are within the control of the seller - well-trained staging consultants know how to show these to their best advantage." 1999 Proctor & Gamble Survey
- "Landscape your outside entrance - Add a few new flower pots, small shrubs or hanging plants to spruce up the outside. Spending just $400 to $500 on fresh landscaping, according to the survey, can boost your homes value by $1,600 to $1,800." Home Gain Survey 2007
- "87% of ALL home buyers and 94% of buyers aged 25 to 44 used the internet to search for homes." NAR Profile of Home buyers and Sellers 2008 - THIS MEANS YOUR PICTURES BETTER LOOK GREAT!
- "63% of buyers will pay more for move-in-ready homes." Maritz Survey
- "Vacant home previously on the market 190 days un-staged had not sold. Those same homes were taken off the market, staged and re-listed. Those properties on average sold after 28 days on the market after they were staged. which is 85% less time on the market." RESA Survey 2008
- "Un-staged occupied homes on the market an average of 57 days, had not sold. Those homes were taken off the market and staged and re-listed. Those properties on average sold after 6 days on market after they were staged, which is 89% less time on market." RESA Survey 2008
Let's look at the 2009 survey that was conducted and showed 126 homes that sat on the market 9 months unstaged, and when staged sold in 2 months by RESA, feel free to click on the RESA link to view the PDF and get a copy for yourself.
MONTHLY MORTGAGE PAYMENT: $1,800 FOR 9 MONTHS $16,200.00
MONTHLY CARRYING COSTS: $300 FOR 9 MONTHS 2,700.00
TOTAL COST TO CARRY A HOME ON THE MARKET FOR 9 MONTHS: $18,900.00
MONTHLY MORTGAGE PAYMENT: $1,800 FOR 2 MONTHS $3,600.00
MONTHLY CARRYING COSTS: $300 FOR 2 MONTHS 600.00
TOTAL COST TO CARRY A HOME ON THE MARKET FOR 2 MONTHS $4,200.00
COST TO CARRY FOR 9 MTHS - COST TO CARRY FOR 2 MTHS = DOLLARS SAVED
$18,900 - 4,200 = $14,700
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