Property Staging - Looks Great, But At What Cost?
Property Staging Increases Sales Prices
According to a prominent property staging company in Australia, styling your home to sell will increase the perceived value of the home. Home staging companies boast that their properties get a minimum $10,000 dollars more. On average, styled properties can achieve anywhere from $50,000 to $200,000 more than un-styled properties. In fact, a survey conducted by a LJ Hooker reported property styling homes boost final sales prices from 7.5% to 12.5%.
Whilst property staging companies are not in the business of covering up major structural flaws or anything under handed, it is nonetheless a sophisticated and customized marketing tool. Staged properties are generally immaculate and clutter free. They have art work and furniture perfectly arranged to draw buyers in so they can imagine themselves living there. Right away buyers become emotionally involved and can make a spontaneous offer, often paying more than they should.
Once you move in with your possessions and furniture provided by the property styling company has gone, the reality of your purchase starts to sink in. The rooms now seem darker and smaller, there’s not enough storage and the layout is impractical. It’s only now that you start to see the property in a not so positive light. The faults that you overlooked because you were emotionally involved now turn into buyer’s remorse.
Top Tips for Buyers When Viewing Staged Properties
Before you jump in and make an offer on a staged property, consider the following tips to avoid emotional attachment and overpaying.
Firstly, stick to your budget and know your limitations. Avoid overpaying by researching and comparing sold prices on similar properties in the street and suburb. Also know your buying requirements and don’t be distracted by glamorous furnishings in a home that really isn’t what you want.
Next, it is more important to purchase a house with a solid structure, a good layout, good sized living areas and land size. These features are difficult, expensive or cannot be changed and are highly sought after when you later decide to sell.
Focus on these Key Criteria rather than the Property Styling
Rather than being distracted by the property styling, the features that we would recommend you focus on are as follows:
- Which is the best Sunshine Coast suburb for me?
- Where do I want to live?
- What is the future growth potential of the suburb?
- Are my lifestyle activities located close by?
- Is this a popular location – (ie) for when you plan to resell your property
- What distance do you want to commute to work?
- Which schools are best and is the property in the catchment area?
- What type of home do you want?
- Is it in good condition or is it in need of a renovation?
- What is your budget for the property?
- What if there is nothing I like right now?
Purchasing property is the biggest financial decision and investment. Consider engaging an independent Buyers Agent to negotiate on your behalf to secure the best price and terms. SC Buyers Agents are on the real estate frontline and know the Sunshine Coast property market. We can help you capitalize on potential opportunities quicker.