Staging your condo to sell is a new checklist item in the condo selling process. Not only does it make your condo look the most appealing to potential buyers, but it also may increase offer prices! Let look at some statistics that were pulled by The National Association of REALTORS Research Group in 2019:
40% of buyers’ agents cited that condo staging had an effect on most buyers’ view of the home.
83% of agents said that staging a condo made it easier for buyers to picture the unit as a future home.
47% of buyers said that staging the living room was the most important. The second most important was the master bedroom, and then the kitchen.
25% of agents said that a staged condo had an increased dollar value between 1-5%, compared to similar homes that were not staged. 17% of agents said that the dollar value increased between 6-10%.
The average dollar value spent on home staging was $400.
28% of sellers’ agents stated that there were decreases in the time on the market when the condo is staged compare to similar homes that were not staged.
So, what the statistics are saying, is that if you spend on average $400 to stage your condo, and your unit is worth $300,000, you are looking at a probable increase in dollar value of about $7,500, and a potential increase of up to $30,000. Even if it only increased your home’s value by 1%, you are looking at a possible extra $3000!
What does it mean to stage a condo?
Home staging is the process of adding decorations, arranging pre-existing furniture and/or hiring experts to dress your condo to make it look its best for photos and open houses. It is essentially showing buyers the unit’s potential and allows buyers to picture their future home more easily than staring into an empty or unfurnished space.
Some Home Stagers are so good, they can make your unit look like something out of a magazine! Our most trusted home stagers in the Halifax Area are A&E Home Staging. Danielle is phenomenal at aesthetics and design, and working with her guarantees your condo will look its best. Pictured below is some of her work:
Still not convinced? Here are some more reasons below why staging your condo should be non-negotiable in the selling process:
1. Your condo will sell faster
According to the Real Estate Staging Association, condos that are staged sell on average 73% faster, than similar units that were not staged. Just think: the main determinant in a buyer putting in an offer on your unit will be its visual presentation. The average buyer is not going to put an offer on a condo that they do not love the look of, or that they can picture themselves in. If you were a buyer and you looked at five condos, and one of them was beautifully staged, the other four bare, which one would be the most tempting?
2. Highlight the good stuff
Maybe your unit has built-in shelves on the walls or a large fireplace in the centre of the room. Expert Home-Stagers will take these unique aspects of your condo, and stage them properly to show buyers how these accents can upgrade your space, rather than clutter it. A shelf that may have been home to your gaming console for years can easily be turned into a display of artwork or local craft.
3. Hide the flaws
Maybe your condo has some things that you wish you could cover up or erase before buyers walkthrough. If this is the case, home-stagers will factor this into how they carefully place furniture, decor, lamps and rugs so that the buyer is pulled through the perfect flow of the unit, and away from the less favourable features.
4. You may not see your own clutter
Unless you're a minimalist, you probably have clutter. We are also typically all blind to our own clutter because many of our possessions hold emotional value. You may think that a dresser full of family picture frames makes your bedroom feel like home, but a potential buyer has no connection to these photos, and they will make the room appear smaller to them. When you hire an expert to stage your condo, they look at your space as a product on the market, not as the home that built your life. They will remove what they know buyers do not want to see and replace it with what will get you the top dollar.
5. More money in your pocket
The top priority of home stagers is to get buyers interested in your unit. The more buyers that are interested, the more offers you will receive. Bidding wars can lead to higher offer prices which is what every seller hopes and dreams of. If a couple falls in love with your condo and hears that there are multiple offers, they may offer much more than they were planning to, to make sure they don’t lose it.
Don’t take it personally
A Home-Stager may remove many things from your condo that you cherish and love. You must remember to not become offended if your home-stager tells you to hide your favourite poster or painting: The home-stager is not saying that your favourite wall decor isn’t beautiful - they are trying to make your unit less personal and as marketable as they can to the widest range of buyers. When we remove personal objects and favourite colours and replace them with more generic and neutral decorations and colours, a wider range of individuals may be able to picture themselves in your condo.