Home staging is the art of using furniture and accessories, plants and lighting to create the right atmosphere to sell your property faster and for the best price. Whilst home staging is still a relatively new concept in the UK property market, in America and Australia it has been an inconceivable concept to continue to market an empty or unstaged property for years. The Americans and Australians have long understood that which the UK are only just starting to capitalise on – home staging can sell a property faster and for a higher price and here’s why:
1. The facts
As evidenced in the research by the Home Staging Association UK, staged properties sell, on average, twice as fast and for 8-10% more than unstaged properties. So if you had a property valued at £300K before staging, it is likely to sell for between £24,000 and £30,000 more once staged.
2. Seeing is believing
Staggeringly, research has shown that 97% of us can’t imagine what we don’t see with our own eyes. This means that when we visit a property that’s empty, or not looking at its best, we will struggle to envisage its full potential or imagine it as our home. If buyers can’t picture themselves living there, they aren’t likely to buy it.
3. Home buying is an aspirational pursuit
When looking for a new home, buyers want somewhere that reflects the lifestyle they aspire to, not the lifestyle they have. Which property we choose to buy and how much we are willing to pay is directly related to how good the property makes us feel when we see an image and when we step inside. The more aspirational the property, the more buyers are willing to pay for it.
4. Playing to its strengths
Every property has its key selling points and its downsides. Home Staging focuses the eye and attention on the property’s strengths and detracts from possible problem areas. If a viewer falls in love with a beautifully presented property, they will turn a blind eye to the fact that it may need a lick of paint or a new bathroom floor. In an empty property, every minor defect is highlighted and can become a major sticking point.
5. Competition is tough
The first thing buyers do when looking for a new home is browse properties online. The more attractive the image, the more likely they are to click on it. The higher the click rate, the higher the number of viewings. The more owners are on board with the concept of property staging, the more likely your property will be overlooked if it doesn’t present as well as other homes on the market.
If spending a few thousand pounds will help your property sell in half the time and for tens of thousands of pounds more, then isn’t it worth it? Property Staging specialists can offer useful tips and advice on how best to prepare your home for sale and can help with everything from clearing and decluttering to moving furniture and adding the final touches for a viewing. Some can even help with the actual moving process.
Janine Shalev is a professional property and home stager at JS Property Staging. She transforms empty properties into spaces that prospective buyers or tenants would love to call home. Call or message Janine if you would like to discuss home staging tips and strategies for your property.