Being in the industry for quite a few years, we have heard plenty of stories about homes not selling for more than 6 months or so. It is something that makes us feel sad knowing how much it usually costs to maintain a property every month.
Many do not realize the value of home staging until it is too late. Some people say it’s just a waste of money and it is something that can be easily done without the extra help from professional home stagers. Only to realize that, in the end, they could’ve sold their property faster if they’ve hired one.
Spending money on something that you are not familiar with or had no prior experience makes you hesitate. That is something we at Prep This House understand. I mean, who doesn’t? It is normal to feel extra cautious, especially if we are talking about hard-earned money here. We all want good value in exchange for our money, right?
With that said, we’d like to show you the real value of home staging in numbers.
How much money could you really save with home staging before listing?
In a study conducted by RESA, in which 126 homeowners participated, it was observed that the average time a home spends on property listing is 263 days before the owner decided to stage. That’s approximately 9 months on average.
Moreover, based on another RESA study, wherein 284 homes were staged before they went on the market and they sold on average in 40.5 days. That is approximately 223 days less time on the market or an average of 7 months.
To show you further how much time and money you will save with home staging, a sample computation below is provided to help you determine how much money you will continue to spend if your property remained un-staged.
|Monthly Mortgage Amount||$1, 700|
|Monthly Carrying Costs (Utilities, HOA dues, landscapers, etc.)||$ 300|
|Total monthly costs||$2, 000|
Based on the average time spent on a property in the market, we have…
$2,000 x 9 months = $18,000 in total expenses.
If we are to determine how much will be the savings had those home owners used home staging before listing, they would’ve saved…
$2,000 x 7 months = $14,000
That’s a whopping $14, 000 savings!
Just by looking at the numbers, you can tell how much you will be losing if you leave your property un-staged for months.
One more thing to worry about is the inevitable price reduction. Studies show that the longer a property spends time sitting on the market, the lower the selling price will be.
The results shown in above computation are relative to individual mortgage and expenses. You can use the provided formula below or use our home staging savings calculator on the left sidebar to determine yours.
- Monthly Mortgage Amount + Monthly Carrying Costs (Landscapers, DOA Dues, Utilities, Etc.) = Monthly Costs
- Monthly Costs X 9 Months (Months on Market When Un-Staged) = Cost To List Property Unstaged
- Savings: Monthly Costs X 7 Months (Reduction In Months When Staged) – Staging Fee = Savings When Staged First!
Ready to discuss home staging? Talk to us. Or ask for a No Obligation, FREE quote here.