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Thinking of selling? Home styling offers vendors an edge in the property market, delivering anywhere from 5% to 12.5% in sales price, according to surveys done by the home staging industry and others.
So then, as the median house price of the capital cities combined is at about $550,000, you could gain as much as $27,500 or more by styling your home.
Another benefit is a quicker sale. According to 88% of LJ Hooker agents surveyed, a styled home draws more bidders to auction and more offers than similar homes sold without it.
Think of home styling (a.k.a. staging a home) like marketing on steroids! It works well in nearly every market, however your agent can offer some insight into whether it will work well for your property.
That said, you’re not likely to style a property just to rent it out – this strategy should be reserved for when you’ve decided to sell, especially to an owner-occupier.
Consulting fees and services vary greatly, but it’s worth your time to speak with a professional home stylist, especially if your agent thinks you can boost your profits significantly.?
If, however, you want to take a “do it yourself” approach, you can achieve great results as well.
What a home stylist does
The stylist will work out what you need to do to achieve the returns you’re after. This will help you avoid overcapitalising.
Although a home stylist can take care of the cleaning and decluttering, it’s smart and more economical to take care of this yourself (or hire a house cleaner) so that your money is spent where it matters…on the stylist’s expert advice.
She’ll help you gain a better price and sell faster by removing anything in the home that reminds prospective buyers that someone else lives there. In other words, eliminate toothbrushes, family portraits, and small kitchen appliances – amongst other things!
In other words, she’ll “neutralise” the home so that it appeals to the widest audience of prospective buyers possible.
She’ll help create the “lifestyle story”. For example, if your property’s on the coast she might hang wetsuits in the laundry, or if it’s a home in the bush she’ll park walking boots near the back door.
Depending on your needs she’ll bring in furniture and other accessories to help show your home in the best light possible.
Is my home worth styling?
You might imagine that home styling is only for million dollar properties.
The principles and strategies of styling a home for sale can be applied to every home.
An interesting survey of home stylists conducted by a doctor of psychology discovered the following facts about what appeals – or repels – potential buyers:
- The number one thing that stylists rated most important is to remove personal items from the home, such as used bars of soap, toothbrushes, razors.
- Second on the list was that a room be used for its intended purpose. For example, potential buyers didn’t want to see the living room turned into an office.
Do it yourself
Rather do it yourself? Begin by viewing your property with a critical eye, keeping your target buyer’s needs and wants in mind.
Spend your time and money on those areas that not only need the most help, but which will deliver the best return for your investment:
- Declutter and clean the home thoroughly, either doing it yourself or hiring out a cleaning service.
- Replace window treatments, paint walls and refinish floors if needed as well, keeping colours a warm neutral.
- Use artwork, pillows and other accessories to add colour to the rooms.
- Hire out furniture if necessary, keeping the lines clean and number of pieces minimal.
- Opt for glass and light coloured furniture to open up a room and reflect light, creating a fresh look.
Most importantly, you’re selling this property to make money. Run the numbers (remembering to add your time into the calculations) to ensure that your gains exceed your costs.
If you want to learn more tips on how to sell (or buy) your investment properties for profit – come along to our FREE Property Investor Night! You’ll learn fantastic tips on how to buy for a profit, where our investors are buying right now and where you should buy next! Register with the form below.