Is Home Staging Worth the Cost?

What Is Home Staging?

Making your property shine goes beyond obvious things like making repairs and tidying your home. Professional home stagers may bring in new furniture, artwork, décor, lighting and other finishing touches to help your home stand out to buyers. This level of detail may be ideal for empty homes. A blank canvas could draw attention to a home’s flaws and signs of wear and tear. Even if you’re living in your home while it’s on the market, home staging can freshen up the space.

You don’t necessarily have to stage every room of the house. NAR reports that the living room, primary bedroom and kitchen are most important to buyers. Home staging prices vary, but HomeAdvisor puts the average cost at $1,770.

Pros and Cons of Paying to Stage Your Home

Whether or not to hire a professional to stage your home requires weighing the pros and cons of each option.

Pros of Paying a Professional Stager

Here are three of the top benefits of working with a professional stager.

• It might help you sell your home faster. Close to half of sellers’ agents said that home staging reduced the time that a property was on the market. A shorter sale time can help sellers close the deal faster. That’s important if buying your next home is contingent upon selling your first.
• Staging your home could draw in more buyers. Every real estate market is different, but home staging is thought to make your home more attractive. That can be a big advantage in a competitive housing market. Four out of five buyers’ agents said that staging a home made it easier for buyers to imagine themselves living there in the future.
• It could lead to better offers. A warm, modern home might command more competitive offers. According to 20% of real estate agents, staged homes led to offers that were between 1% and 5% higher than similar homes that weren’t staged.

Cons of Paying a Professional Stager

Like anything else, staging a home also has drawbacks.

• It’s an additional expense. The total cost of staging can range anywhere from $150 to $5,000, according to HomeAdvisor. That’s on top of other costs associated with selling a home. Real estate agents generally take a 5% to 6% cut of the home sale price. Other closing costs can add an extra 2% to 4%. You’ll want to factor in moving costs as well.
• There’s an inconvenience factor. If you’re living in the home you’re hoping to sell, you’ll need to find a place for your unused furniture and other things you’re clearing away to stage the home. That will probably mean moving your belongings to a storage unit (which is also an added cost).

Tips to Help Get the Best Price for Your Home

If professional home staging isn’t compatible with your budget or lifestyle, it’s still possible to spruce up your home.

1. Declutter your home. That includes removing knickknacks, books, moving boxes, kids’ toys and anything else taking up unnecessary space. Aim for tidy rooms, hallways and countertops.
2. Focus on curb appeal. The outside of your home is just as important as the inside. According to HomeLight research, a well-landscaped exterior can increase home value between 1% and 5%. Replacing the mailbox and painting the front door are other simple action items.
3. Make inexpensive, impactful improvements. If your home is in need of major repairs, selling it as-is could deter buyers—or result in mediocre offers. Certain home improvements can go a long way in adding value to your home. That includes small-scale fixes like replacing the garage door, painting or making minor upgrades to the kitchen or bathrooms.
4. Depersonalize your home. Removing personal effects from the home can help buyers visualize themselves living there. You might consider storing family photos, bold artwork, or other accessories that make it feel like the home is already being lived in.
5. Partner with a knowledgeable real estate agent. The right real estate agent should have a firm grasp on your local market. That includes sales trends, average prices and the things that matter most to buyers in your area. They can guide you in preparing your home.

The Bottom Line

Staging your home may be an investment that pays off. It involves hiring a professional to make your home as appealing as possible to buyers—which could lead to better offers and a quicker sale. Whether it’s right for you will depend on your budget and local market.

In the meantime, get your credit ready to buy a new home. Check your credit report and credit score for free at any time, and make any changes necessary to improve your credit in the hopes of qualifying for a better rate on a new mortgage.