How much does a single day on market cost St Augustine home sellers?
Think home staging is expensive? Try having a non-staged vacant home! I know the fear factor in a lot of homeowners is that they are already struggling to pay for all of the expenses that go along with vacancy, so staging just isn't an option. There just isn't any additional money available. Well, I would like to begin to get you to think about the real cost of an empty home on the market.What are your expenses?
- Mortgage (principle, interest, escrow items)
- HOA & CDD fees
- Lawn maintenance
- Utilities
- Cleaning (please don't leave a home vacant and then not clean it - dead bugs, dust, and cobwebs will not sell it!)
- A possible declining market value
Add all of your expenses and divide by 30 (it could be 31, but really this is just an approximation). This is your cost for a single day of vacancy.
Did you know that staging a vacant home can reduce the days on market by 73% according to the Real Estate Staging Association? Did you also know that staging a vacant home can increase your offers by as much as 3-6%?
Next question... What is the average days on market for your neighborhood? (Did you know that vacant homes take significantly longer to sell than occupied homes in the same neighborhood?) Now, multiply that number by .73. That's how many days you are likely to save by staging.
Finally, multiply the number of days saved (your number above) by the single day cost. That's how much money you'll save by staging.
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