Let’s start with answering a basic question: What is Home Staging?
Chicago home staging is where you hire someone to furnish and decorate your house in an effort to entice potential home buyers to buy it. When realtors discuss home staging with clients, they are referring to a method of preparing a property for sale on the marketplace. Staging is designed to showcase a home’s best assets, impress buyers, and sell it quickly for the highest possible price.
Because not all sellers stage their homes – you’ll be at an advantage if you elect to take the extra step of staging your property.
Why home staging is important?
According to our real-life studies, turns out most people can expect to own three homes during their lifetimes. So when buying or selling a home, many factors should be considered. First and foremost the financial consequences of preparing vs. not preparing your home to look its best. You don’t want to settle for a lower selling price or a longer on-the-market period than you have to.
Relative to the amount of time and money involved, staging may be one of the most beneficial projects you take on. Potential buyers aren’t just looking for a structure to buy—they’re looking for somewhere they can visualize living the life of their dreams. Staging can create a more emotional purchase for the buyer, which ultimately can generate more money for the seller.
Home staging is also beneficial because potential buyers don’t want to see work that needs to be done upon moving into the home. For every problem they see, they’ll deduct its cost from their offer price.
Many people wonder why someone would spend money to stage their home when they know they will be moving out, but the answer is simple, evidence shows staging real estate is usually well worth the effort. On average, staged homes sell 88% faster and for 20% more than nonstaged homes.
Chances are if you are a homeowner and your real estate agent has advised you to stage your home, it’s likely due to your lack of furniture or your furniture and decor being out of date. Whether it’s a select couple of pieces you’re looking for or whole-home furnishings, Bowery and Bash can help.
“We are designers and storytellers obsessed with creating spaces with soul. We take a different approach to home staging, creating a one-of-a-kind look for each client that is anything but generic. The result: dream environments that bring the offer quickly,” says Bowery and Bash founder, Katie.
How much does it cost to stage a house?
As a general rule of thumb, the price of staging a home goes up as the size and price of the home goes up. The average cost for home staging rentals with Bowery and Bash starts at $1500/month with a 3-month minimum. In addition to our full staging services, we also offer a la carte furniture rentals (starting at $1000/month) and interior design consulting (starting at $400/2 hours).
While home staging can seem pricey – keeping a vacant home is also. From the ongoing mortgage to the bills every month that your unstaged house sits empty, home staging can expedite the process and save you money in the long run. Home staging can help buyers envision the potential of their lives in your home.
“I used Katie and her team to stage a home getting ready to hit the market. Her advice on choosing the right furniture for the house was invaluable. Thanks for all of your help!” – Stephanie, Century 21
What to consider when it comes to staging:
The layout of your home can impact your staging budget. For example, the design and setup can be much more challenging within a high-rise condo or multi-story home, which requires additional heavy lifting and hiring additional help to move furniture in.
Which rooms need to be done
Focus on the rooms that potential buyers will spend the most time in—the living room, kitchen, dining room, and master bedroom are generally the most important. You’ll also want to pay attention to what the buyers see when they enter the home – the entryway or important rooms directly within view from the entry. That first impression, whether it is an unstaged empty home or a welcoming beautifully staged home, can make a world of difference in whether they decide to buy and how much they are willing to pay for your house.
What you need in each room
The number of items in each room will impact your total budget. Whether you are simply looking for furniture or a fully-staged room (design, decor, artwork, furniture, plants, accessories, etc), will contribute to your total monthly staging costs.
Professional home staging statistics
Every year, the National Association of Realtors (NAR) publishes reports on housing statistics, commercial research, and state area data in regards to housing and commercial real estate. The following is taken from a 2021 profile on home staging. Other data sources include Spotless Agency, Bankrate, and Investopedia.
- Staging the living room was found to be very important for buyers (46%), followed by staging the master bedroom (43%), and staging the kitchen (35%).
- About 28% of listing agents stage a seller’s home before putting it up in the market.
- 40% of buyers arrange to look at the home they have seen staged online.
- 28% of seller’s agents said they staged their homes before listing.
- Homeowners see a 5-15% return on investment when they choose to professionally stage their homes before they sell them on the market.
- Home buyers are 40% more likely to “walk through the home they saw online”.
- 46% of 3,500 staged homes sold for 10% more than they would have as non-staged homes.
- 95% of buyers search online for homes.
According to reports by Professional Staging, NAR, Investopedia, and Bankrate:
- 86% of potential buyers find it easier for themselves to visualize a property when it is staged.
- 77% of buyer’s agents said a properly-staged home makes it easier for prospective buyers to imagine themselves in the home.
- Over 41% of top real estate agents believe that vacant homes benefit the most from home staging.
- In 2017, only 35% of home buyers bid on homes without ever physically touring the location.
What if staging isn’t in the budget?
While staging is likely the best option to fill a vacant or unappealing home interior, if it’s out of the budget, you may consider a few alternative do it yourself options:
- Clean and Declutter – What may feel homey to you will feel overwhelming to others. Remove some of your items to allow potential buyers to see themselves in your space.
- Depersonalize – Buyers need to be able to envision themselves in your home – remove personal family photos, kid’s artwork, toys, and items on your countertop.
- Fresh Living Items – Adding potted plants or fresh-cut flowers helps your space feel clean, fresh, and full of life.
- Think Neutral – It’s unlikely that every potential buyer will like your paint or wallpaper choice if it’s bold. Instead, select neutral colors throughout your home.
- Curb Appeal – The exterior and entryway will factor into the home’s curb appeal and become an important element of the buyer’s first impression. Focus on adding new mulch, trimming your lawn and trees, washing your windows, and brightening up the exterior with flowers.
If you are interested in discussing your staging project with the Bowery and Bash team – contact us today.