I've always have been pretty good at working with colors. I enjoy it tremendously and it's actually one of my strong points. Recently I was interviewed along with four other color professionals for an article on Extra Space Storage's blog. It's kinda nice being referred to as an expert. Click Here to read the article.
One of the first rooms potential buyers see is the living room. That is why it is extremely important that it be welcoming and appealing. The first step is to de-clutter and depersonalize the space. Go through the room and remove personal photos, collections and any décor item that is smaller than 6”x6”. People want to see the room, not your personal items.
Does the room need any repairs or repainting? Now is the time to do it. Get rid of that bold color you added eight years ago. Maybe upgrade that light fixture with something nicer. How are the carpets? Do they need a cleaning or should they be replaced? I can hear a few of you saying, but I don’t want to spend that much money, well here’s the thing, if you don’t you’re going to pay for it in the way of a lower selling price. And here’s the thing, it’s cheaper to pay for a repair or update than what the potential buyer will deduct from their offer.
Next, consider the floor plan. Look at the room objectively and decide which pieces of furniture need to stay in the room and which need to go. Is there a better way to layout the furniture than how you’ve had it for years? You want to make sure it is easy for potential buyers to walk around the room. Is there a view that you want to highlight, make sure it is accessible. Or do you want to take away from a bad view?
Once the furniture is in place, consider adding a few colorful accessories. A large piece of art or two, throw pillows. Décor items work best in a pair or a grouping in odd numbers. Make sure to keep the décor simple to appeal to the greatest number of potential buyers.
The last thing to do is to get great pictures of the room. Most buyers look online so it’s so vital that the photos of your room look fantastic. My parting advice is to hire a photographer.
This is a short and sweet list of tips on how to make living in a staged home easier. I think this is very important for home sellers.
We've all heard the saying you need to spend money to make money. For real estate investors, this is particularly true. This is why they buy fixer upper properties, replace flooring, paint, update kitchens and bathrooms and more. Why would anyone decide not to stage their flip and leave money on the table?
Home staging creates a significant return on investment. The National Association of Realtors has said that staging can add as much as 6-15% more to the price of a home.
Home staging helps buyers to emotionally connect to the home. It establishes flow and function. It can even make a home feel more valuable by appearing more luxurious. Fantastic contemporary furnishings, soft textiles, and warm colors create a home for buyers that may otherwise just been seen as the shell of a house. By allowing potential buyers to focus on what their lives may be like in the house vs how the furniture might work, buyers are more easily connected to the home. All awkward spaces are removed when the home is staged, allowing buyers to focus on the features and finishes.
Albuquerque investors understand that the value of any update is not it’s cost but rather its return. If there is a significant enough return then that upgrades worth doing. Home staging meets this criteria (and then some).
As the market continues to improve, there will be more and more investors ready to create a tidy profit by fixing and flipping foreclosed and run down properties. For these investors, staging is an imperative to make sure that they make the most of each of their investments.
Mistake #1: Selling the house as a VACANT property.
When a home is vacant, most home buyers can’t see it’s full potential. Buyers lack a point of reference – empty rooms look smaller and they cannot envision how to set up the house functionally. When a room is empty, a buyer’s focus is on the negative details and not wanted features. An empty house amplifies negative thoughts.
Mistake #2: Wait to see if it sells as a vacant house. This can be a costly mistake. Selling a house is all about first impressions. On a new listing most of the traffic is generated with the first 2-4 weeks. If Realtors aren’t excited about what they see during a Broker’s Open House or during these first few weeks, they are less likely to bring their buyers to your property. By not having the house staged on day one of listing, you have wasted all that traffic and time on the market without showing the house at its best potential.
Mistake #3: Not differentiating your listing from the competition. Your photos have to look great since 94% of home buyers start their search online. Being vacant does not make your house different from other vacant houses. Remember – a showing or a sale can be lost by one mouse click!
Mistake #4: Price has now become your only marketing strategy. If your house looks like every other vacant house, then your only differentiators are the price and location. You can’t change the location so your only marketing strategy becomes the price.
Mistake #5: Seeing home staging as a COST instead of an INVESTMENT. Staging a house for sale can help you make money. It is an investment into your home selling process – ranging between 1 and 3 percent of the listing price, which may yield a 5 to 10 percent higher sales price. How nice is that? Plus, selling your home faster will save ongoing mortgage payments and carrying costs.