You've purchased the property and have rehabbed it and now it's time to sell it. Are you prepared to do everything you can to get the best possible price and return on your investment? Sure, in this market, houses are selling fast but with the lack of inventory, don't you want a bidding war over your property? Or are you willing to chance leaving money on the table? Real estate investing and home staging go hand-in-hand.
When it comes to vacant homes, 90% of the population cannot visualize in their minds how or if their belongings will fit into a space. That's one of the reasons it is so important for investors to stage their vacant properties. At a minimum, you should consider staging the main living areas of the home, including the living room, dining room and family room if there is one. Investors should also consider staging the master bedroom and at least lightly staging the kitchen. Sellers need potential buyers to connect emotionally with the home and properly staged rooms create and secure that connection.
Living Room Before:
Living Room After:
A house that's staged shows buyers the home's features and focal points, the things that make that particular home special. And they will be attracted to homes and rooms that create visions of warm, cozy days and evenings spent in the space. Home Staging does just that.
Which room is going to attract a buyer?
This dark, empty space, or
This inviting, stylish living room?
You've made a large investment already and your goal is to get the highest ROI that you can. Including the cost of home staging into your budget helps ensure that outcome. According to HomeGain's 2012 National Home Improvement Survey, home staging nets a 196% ROI. (It is important to note that all of the projects on the list are part of the home staging process and that the cost of the staging shown is representative of an occupied property). In the case of flips, the property is considered a "vacant" stage so the staging will consist of bringing in furniture, artwork, lighting, bed and bath linens, possibly area rugs and home decor items. Cost is subject to square footage, the number of bed and bath rooms, what rooms are being staged and so forth.
You also want to make sure you a hire a qualified, reputable, professional home staging company. Keep in mind that cheaper usually isn't better. You will get what you pay for. You want a home staging company with a proven track record.
In the end, it all comes down to buyers' perceptions of the home and whether or not they can see themselves living there. Make sure your investment property gives buyers that emotional connection they need.
Pro Staged Homes specializes in investor-owned vacant property staging. We average less than 60 days to close of escrow.