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How much of an increase in sale price can homeowners expect by effectively staging their house before listing it on the market
Effective home staging can significantly increase the ultimate sale price of a house. According to data from the Real Estate Staging Association (RESA), an average investment of 1% of the sale price into staging can result in a return on investment (ROI) of 5 to 15% over asking price for about 75% of sellers. For instance, if a home is listed for $300,000 and the seller spends $3,000 on staging, they could potentially see an increase in the sale price of $15,000 to $45,000. Moreover, a survey by the National Association of Realtors (NAR) revealed that 25% of agents representing buyers said staging increased offers by up to 5%. Additionally, 81% of buyer's agents reported that staging made it easier for prospective buyers to visualize the property as their future home, according to Investopedia. Overall, these statistics suggest that effective home staging can provide a substantial return on investment and make a house stand out in a competitive market.
However, it's worth noting that the cost of home staging can vary widely depending on several factors, such as the size of the house, the length of time it's staged, and the extent of the staging services provided. Based on HomeAdvisor data, the service fee alone for staging can be between $800 and $1,000, while staging fees for each room can range from $400 to $700 per month for the first month. Full furniture rentals for extended periods can cost $6,000 or more, according to Forbes Advisor. Therefore, homeowners should carefully consider their budget and the potential ROI before deciding to stage their home. Nevertheless, the potential benefits of home staging, including a higher sale price and a quicker sale, make it a worthwhile investment for many homeowners.
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