Home Staging really does work ““ check the numbers!

How do you know that Staging a Home for sale will bring you tangible (meaning $$$) benefits ?

There are few statistics available on the subject and every marketplace being different, it’s hard to measure the exact impact Home Staging has on a sale. But, based on 2003 statistics provided by StagedHomes.com, a price increase of between 2% and 10% is a very realistic (and even conservative) estimate.

Another measure is the time it takes to sell a property and translate that time into money. The longer the house stays on the market, the more it costs you in house payments and other expenses, diminishing your potential profit. As an example, let’s assume that a house has been on the market for three months and your mortgage payments are $1,000 a month, so you have put an extra $3,000 into it (plus insurance, electricity and heating and other incidental expenses).

At the end of that period, you’ll probably lower the price to attract buyers. If the house was originally listed at $300,000, you might be willing to accept $285,000 (a potential loss of $15,000). But if you invest $2,000 into Home Staging (the average investment being between 0.5% and 1% of the market value), you can increase your desired bottom price to at least $290,000. If the house sells in one month and for only 4 % more than your new bottom price, you have a NET GAIN of $11,600 (4% of $290,000) + $2,000 (saved mortgage payments) - $2,000 (Home Staging fees).

Here is a part of a testimonial I recently received from a client who updated and staged his house over the last six months and has just sold it: “”¦ the house sold in less than 3 weeks and for > $100,000 above what brokers had estimated six months earlier.” This case might be unusual but it is real !

Professional Stagers know how to bring the property’s assets in the limelight and help you increase the value of your property. As you can see for yourself, the numbers talk!

This article contributed by Sveta Melchuk, founder of Home Staging Montreal, a firm which specializes in Home Staging and Interior Redesign since 2005. Please visit www.home-staging-montreal.com for more information or contact us at 514-482-9776.

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