Tag: ROI

Home sellers are always on the look out for strategies they can use to help sell their homes faster and at a better price. One such technique that can help shorten the time homes stay on the real estate market is ‘home staging’. Home staging simply means decorating a home or setting it up in a way that would be most attractive for prospective home buyers. Home staging can involve a few or more of these processes – renovation, repairs, re-decoration, landscaping etc.

There are home staging professionals who can do this job for you. They assess your home completely and provide recommendations on the changes or staging methods that should to be implemented. Many home stagers give free estimates too. A professional home stager typically recommends arrangement of furniture and accessories, wall colors, repairs, removal of clutters, and the addition of furniture and other objects to help enhance the curb-appeal of your home. They know how to highlight your home’s best features and play down its flaws to enhance its aesthetics for the real estate market. These changes are done in such a manner that the home owner gets higher ROI on his/her home.

For home owners who are looking to sell a vacant home, the best thing to do is to get it home staged before putting it up for sale. Furnished homes are known to sell more quickly than vacant ones. This is because potential home buyers find it difficult to visualize their future home when the house is vacant. By home staging, you not only get it well furnished but also create a positive value for your home.

Home owners and real estate agents can use professional home staging to boost home sales. In the case of slow real estate markets, home staging is a vital strategic tool that, when used well, will help the home owner stand out from the competition.

So if you are bringing your home or condo on the market soon, be sure to prepare your home for sale by staging it professionally. It is always better to consult a good real estate agent who can recommend how much you need to spend on home staging, based on a professional analysis of the real estate market conditions.

If you are looking to increase the sales price of your home, some property styling strategies deliver better returns on the investment than others. Identifying which strategies will have the best ROI involves identifying your target buyer and adding features which they are most likely to pay premiums for.

Lets take a look at several case studies of how people were dramatically able to affect their sale prices, with some moderate and tasteful investments in appropriate home staging in Melbourne:

1. First-time Home Buyer in Melbourne

Our client renovated their property to draw the interest of first-time home buyers. They decided to focus on this demographic because the neighborhood was up-and-coming, relatively new, and local schools were highly regarded. A well-considered home staging Melbourne program spruced up their exterior paint, performed repairs, enhanced the landscaping, and improved their dcor. Net result? Over $80,000 more in our clients pocket at sale all for a $21,000 investment.

2. Bathrooms and Kitchens Matter

No other rooms have the potential to affect the value of your home more than the bathrooms and kitchen. One client had a lovely home, but the kitchen and bathroom werequite outdated. By installing new fixtures, appliances, and cabinetry, they were able to turn $15,000 invested into nearly $100,000 more at sale by updating the property styling.

3. Consider Expansions When Justified

Paying attention to what is offered by other houses in your area is extremely important. In one instance, we were able to help a client identify that the fact that their home had only 2 bedrooms was hurting the value of their property; most homes in that particular neighborhood had at least 3. The total increase in value after a $35,000 investment which paid for the addition of a bedroom and full bath? Almost $150,000.

4. Demographics Can Drive Prices

The composition of neighborhoods can change over time. We had clients who, having raised their family successfully, were looking to transition to a smaller living space now that their children had moved out. However, every other family in that part of town had the same idea. We advised them to focus their efforts on transforming the property styling to appeal to empty-nesters. By adding a modern bathroom and extra security, and working to reduce the amount of required maintenance on landscaping, we helped them sell a home quickly, and pocket nearly $45,000 at the same time.

As you can see from these examples, it is quite possible to receive a significantly higher price upon the sale of your home, if you engage in the proper home staging Melbourne programs prior to listing. A little research into market and demographic trends can help you identify the best ways to add big value to your sale through proper property styling.