What is Home Staging and What is it for?
Have you ever heard the Home Staging and wonder what it means? Home Staging is a home marketing strategy that has significantly impacted the real estate industry in recent years.
What is Home Staging?
Home Staging is a marketing strategy aimed at making a property stand out among the competition. The primary objective is to enhance a property's appeal and differentiate it in the market. Transforming a unit through Home Staging involves elevating its attractiveness to potential buyers while maintaining a neutral and depersonalised ambiance, encouraging a broader range of interested parties.
It’s important to not confuse Home Staging with Home decoration. While the decoration focuses on creating a “good vibe”, Home Staging is about “setting the stage” to enhance visual appeal and attract potential buyers, adopting a more universal and one-size-fits-all approach.
How to Stage Your Home?
Whether renovating an old house or refurbishing a property, all homes can benefit from Home Staging, provided specific guidelines are followed. For vacant homes, whether due to renovation or refurbishment, staging involves creating a cozy and neutral atmosphere. This includes using fabrics such as curtains, tablecloths, towels, sheets, and bed linen to evoke a sense of warmth and homeliness. Showcasing rooms with ideal furniture arrangements that invite potential buyers to envision themselves living in the space.
Have you ever been to an Ikea and walked through the showrooms where they showcase how the furniture and layout could work in perfect harmony? That is also a form of home staging. Home Staging would actually be a familiar concept if you frequent furniture stores. Some chain stores assemble furniture in compact spaces, complete with cushions, bedding, and accessories, offering buyers a glimpse of the room's potential appearance before purchasing the displayed items.
Advantages of Home Staging and How to Implement it
Home Staging a favorable approach especially if you have an unfurnished property for sale or rent. You could consider employing a Home Staging company help you potentially:
Increase the property's sale/rental price
Attract more viewers, significantly improving the chances of a successful sale
Discourages buyers from attempting to negotiate the property's price due to “Poor Condition”
Enhance the likelihood of a sale by helping prospective buyers visualize themselves in the staged home.
Save money as a quicker sale or rental reduces maintenance and hefty marketing costs.
Home Staging doesn't necessitate extensive property renovations. Instead, it involves rearranging spaces and bringing in rented fresh furniture to give the house a refreshed look. If you are currently living in that unit, personal belongings must also be cleaned away to maintain a neat and inviting appearance, signaling that the house is ready for immediate occupancy.
How much does Home Staging Cost?
Usually, Home Staging in Singapore costs an average of $1000-$2000 Singapore Dollar Monthly. This means that if your unit is being listed for sale for 2 months, the cost of home staging will roughly be $2000-$4000. Most of the time, if you engage a real estate agent to help sell your home, the cost of Home Staging would be bourne by the agent as part of his/her fee and you would unlikely have to pay for this upfront from your own pocket. Different agents operate differently so check with your agent representative on how they would approach home staging and its costs.
So should I use Home Staging when selling my home?
Most of the time, it depends on multiple factors such as the purpose of sale, sale proceed calculation analysis and if home staging will significantly elevate the unit. Generally, home staging is an extremely useful tool and strategy for most units on sale but might not be advantageous to certain units for sale/rent. Speak to a Real Estate professional for more in-depth advise on putting up your home for sale and if Home staging is right for your unit!
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