This regularly-scheduled sponsored Q&A column is written by Adam Gallegos of Arlington-based real estate firm Arbour Realty, voted one of Arlington Magazine’s Best Realtors of 2013 & 2014. Please submit your questions via email.
Q. I have a 1980s condo in good condition that I’m planning to sell when my tenant moves out. The condo will be vacant, so per the advice of a Realtor friend I got an estimate to stage the condo. It came out to around $2,500. Wouldn’t it be better to invest that money improving the condo (i.e. new appliances) rather than spend that money on staging?
A. It’s hard to say for sure without seeing the condo firsthand, but in most cases staging provides a return on your investment that is hard to beat. I know it is a lot of money to invest in something that seems so temporary, but I have witnessed over and over that it makes a major difference in how the home shows and how much interest it creates. Remember that you are trying to create an emotional connection between the home and the potential purchasers.
Take a look online at homes for sale and compare the photos of ones that look staged to the ones that are vacant. Ask yourself which homes you would be more inclined to visit if you were a buyer.
If your condo is relatively small or has any awkward shaped rooms then it is especially important to show it with furniture as these spaces can be challenging to visualize. It sounds counter intuitive, but vacant rooms actually look smaller. They also make it more difficult to judge what kind of furniture will fit.
New appliances are nice, but unless you are upgrading the whole kitchen, they may look out of place. It’s also possible that they won’t be the style or color that the new homeowner would prefer. There’s nothing worst than inheriting brand new upgrades you don’t like.
I answered a similar question about staging in a May article that I recommend checking out. Below are some statistics I shared in that article.
According to StagedHomes.com:
- The average sales price of a staged property is 6.9 percent higher than a non-staged property
- Staged homes typically sell 50 percent faster than non-staged homes.
The views and opinions expressed in the column are those of the author and do not necessarily reflect the views of ARLnow.com.