How ‘staging’ your home can sell it for THOUSANDS more
SELLING a home can be a stressful experience, particularly if it has been on the market for months and there has been no whiff of an offer. But by hiring a company to ‘stage’ the property, you could be opening the champagne sooner than expected.
The idea behind ‘home staging’ – presenting a property at its best through lighting, decorating and furniture – is simple: a better looking property will attract a larger number of potential buyers, helping it to sell faster at a higher price.
Ananda Ferlauto and Ray Warwick have been running website Homesome.co.uk for two years. They offer consultation and advice on how to best present a property, as well as fully managed projects that can include home renovations, new furnishings and decorating. Turnaround time can be between two and six weeks.
First impressions are everything when selling a home, says Warwick. ‘We pay great attention to cleanliness, cosmetic condition and the overall state of fixtures and fittings, as well as that of bathrooms and kitchens. Potential buyers need to be able to believe they could move in tomorrow,’ she says. How much homeowners invest in ‘home staging’ depends on the service they choose. A two-hour consultation with an action plan starts from £300 with Homesome, while a full makeover can cost between £10,000 to £15,000 for a two to three-bedroom flat, including any renting of enhancing furnishings.
As a rough rule of thumb, sellers should consider investing a sum equivalent to between one and two per cent of their property value when staging their home. It may seem a hefty amount, but the potential returns can make it worthwhile. Professionally staged homes can sell for prices up to 15 per cent more than the competition, according to property website Mouseprice.
One of Homesome’s clients invested £13,800 in her three-bedroom garden flat in Finsbury Park, North London, after it had been on the market for four months without an offer. Homesome made several cosmetic changes, added new furniture and accessories and worked with the estate agent on how to present the property during viewings.
The flat sold in four days for £60,000 more than the original asking price. The seller says: ‘I was sceptical it would be worth the money but we are so glad we did it.’
Dario Esposito, of North Londonbased estate agent Martyn Gerrard, agrees that ‘home staging’ can pay off. He says: ‘Every time we have sold a home that has been staged, we have achieved prices higher than the market seems to justify and in the quickest time.’ If money is a concern, there are ways to make a property stand out without huge upfront costs.
Tom Parker, consumer expert at property website Zoopla, says: ‘Although property staging can begin with new kitchens and bathrooms, other makeovers can be simple and affordable – for example through the strategic placing of mirrors.’
The key is to help potential buyers visualise the property as their own. Remove non-essential items on display, including family photos and children’s art, and make sure there is enough space to comfortably move around the property. Hiring a professional cleaner to deep-clean the property and an electrician to change old sockets as well as dated or dark ceiling lights can also maximise a property’s potential. Homeowners can save money, too, by renting – rather than buying – stylish furniture for a few months until the property sells.
Finally, painting walls creates a blank canvas for potential buyers. Homesome’s Ananda Ferlauto says: ‘We recommend neutral tones and a contemporary classic style, with just enough accessories for the room to feel welcoming.’