A selling method that vendors use to achieve a faster sale, lessen price cuts and drive up values is property styling, or home styling.
Developers, agents and retail stores like Ikea and Freedom use it. “Home Staging” is tantamount to merchandising. It involves styling a space to emotionally attract a target audience to eventually realise top consumer dollar. And it works.
When it is a sellers’ market a competitive advantage is needed to attain the best possible price, and a makeover is not the sole option.
Increasing the sales price
The reason for home staging is to style a house to copy those that are found on the pages of fashionable home magazines. This is a means to boost the price and buyer interest. Home staging can really make a major difference. In terms of price, it can add $20,000 to $25,000 to a normal sales price compared to a similar home on the market that is not furnished. Another benefit is it mitigates price cuts. It is all based on emotions for owner-occupier buyers, resulting from what they see and feel in the first 27 seconds.
Neutralise, de-personalise and the wow factor
Sellers should make the effort to neutralise and de-personalise everything in their home. Store away old trophies, get rid of everything off the fridge, put bills and other personal contact information out of sight, remove photos of family members because that can make people feel awkward and just store it away to make them feel they are purchasing something new. It is also important to declutter. Think about the direction buyers would take to inspect the house and eliminate any obstacle from their path. Home staging is taking the methods of depersonalising and decluttering to the next level by putting display furniture and furnishings to evoke a certain feeling.
Additional tips for sellers include economical cosmetic changes that deliver a little bit of wow factor like: changing the knobs or handles of the kitchen cabinets, installing a new mailbox, putting up new blinds or curtains, putting new kitchen appliances if they are very old or on the verge of breaking down, polishing the deck, adding mulch in the garden, pruning hedges or shrubs to make the yard look bigger, putting potted plants around the exterior of the house, or removing the feature wall and either replacing it with a fashion piece or adding a bookshelf or a wall storage in its place.
To get the best possible price, implement a holistic approach as you prepare your property for the market. Home staging should be combined with inexpensive makeover techniques to increase the sales price. If the property has no furniture and furnishings, small things like peeling wallpaper or crackers become obvious. It is important to repair these because any noticeable maintenance issue can significantly impact a buyer’s decision.
It is important to remember that people are purchasing a lifestyle, not just a home. If there is nothing for them to determine whether their king size bed will fit in the bedroom, then it makes it more difficult to envision themselves living in there.