Selling your home is a significant moment in life. And just like most sellers, you’ll have a checklist of projects to tackle before putting your home on the market. Finding the perfect real estate agent, landing on a feel-good asking price, and taking your home from lived-in to show-off ready are just some of the items you’ll need to mark off the to-do list.
Is it necessary to stage in a seller’s market?
But what about staging? How necessary is it to invest in staging your home, especially in a seller’s market?
First, let’s go over what a seller’s market is—to put it simply, this is when there are more interested buyers than there are homes available to buy.
Often sellers assume that it will be easy to get a quick sale in a market that favors them. And although this may be true for some, it’s not always the case.
Think about how important a first impression is. A good first impression will take an interested buyer to a thrilled new owner (of your home, of course). A bad first impression? Not so much.
Even though you’re putting your house on the market at prime time, don’t underestimate staging value. It’s still essential, and in some cases, necessary.
Here are 5 reasons why you should stage, even in a seller’s market
A staged home can increase your offer and decrease the time on the market
When you show off your home’s best features, you will impress buyers who are willing to act quickly and submit a high offer so they can secure a home of their dreams.
In a 2018 survey of over 4,200 staged homes, 85% of those staged homes sold for 6-25% more than those not professionally staged. It makes a difference!
A staged home sparks interest from the get-go.
Most home buyers start to make decisions online long before they even begin to tour homes. Your listing photos are the first impression a buyer will have of your home—make sure you get it right.
85% of buyers said that photos are the main reason they schedule a home preview. A glance is often all you need. Especially in a seller’s market, it’s crucial to stand out from your competition. Photos of a beautifully staged home will do just that, grabbing the attention of interested buyers and convincing them to preview the house.
Staging makes a home feel move-in ready
More often than not, buyers are not looking for a fixer-upper (especially in a competitive market where they are already spending at the top of their budget). They want a house that feels updated and fresh, allowing them to move in without the added stress of making improvements.
When you hire a professional to stage your home, they will identify small areas that could use a quick touchup (such as paint) and will create a space that feels new. This allows the buyer to envision a home that feels complete.
A staged home shows off its potential
An empty home—or even worse, a cluttered home—can easily deter an interested buyer when previewing a home. In a vacant house, rooms seem smaller than they are. And a cluttered home does the space no justice.
When your home is staged, the buyer can visualize how each area in the house should function and how they may set up space with their personal household items.
Costs of home staging are tax-deductible.
Not only is home staging a wise investment, but it is also tax-deductible (score!). The IRS counts home staging as advertising costs (as long as the home is sold). This means that you can subtract the home staging cost from the proceeds you receive from selling your house when you file your taxes.
It’s important to note that the professional stager must be hired with the sole purpose of selling your house. Make sure to talk to your accountant or tax specialist to understand your options thoroughly.
Key Takeaways
A staged home can increase your offer and decrease the amount of time it sits on the market
A staged home creates a great first impression with eye-catching online photos
A staged home feels move-in ready for those buyers who have no interest in updates
A staged home helps potential buyers understand how to use space correctly
You can deduct home staging costs from your taxes