Staging an IP for sale – Hire vs DIY?

Hi all,

We are intending to style and furnish our IP for sale, which is currently empty. We’re considering two options:

• Use a home staging company to style and hire the furnishings for the sale period, or
  
  
• Style the property ourselves, purchase all items outright for this purpose, and try to sell them after the sale period.

Just looking for some advice on which makes more sense, considering the cost, effort, and quality of results?

Cheers.

 

How good are you at styling?

A lot of the value is in the pictures and colour coordination. Unless you are good at this.... then you have to arrange to sell it afterwards.

 

Are you using an agent - they should have a number of companies which they regularly use for staging & could recommend.

 

We are using an agent, they have recommended a company. However, my parents (it's their IP) are leaning towards doing it themselves. They are in their 70s, live 25kms from the IP, and only have experience styling their own PPOR. The subject IP is an apartment close to the city which would appeal more towards younger buyers. Obviously I am a little concerned, however wanted to get some independent input to help them make the best decision from an economic / saleability perspective.

Edit: One of their arguments for DIY is that they are concerned about the cost of extended hiring if the property does not sell quickly.

 

Don't stage the whole unit if that is a concern.

What are you going to do with beds, linen, dummy tvs, models, tables, chairs, furniture, artwork, lifestyle items, accessories etc if you have to buy them?

 

I brought a property that was upstaged. Before I brought it it had been staged for a month or so. The pictures gave me a good enough idea of what the place can look like.

Maybe stage for a month then reduce the number of rooms staged?

 

The effort required to self stage is enormous. To do it without breaking the bank you are often sourcing via gumtree and picking up furniture here there and everywhere. Then carting it item by item into an apartment block (stairs??) is horrendous.
Then you order all the pretty things from Kmart and get that delivered hopefully straight to apartment.
The upside of professional stagers is that they are good putting in size appropriate furniture to make an apartment look bigger and appealing to the main demographic.
I know one of the people on here self staged and the new owner offered to buy all their staging furniture so they never got to use it again but they also didn't have to worry about storing it between builds either.

 

Thanks for the replies everyone, much appreciated!

 

I usually DIY, but I have generally too much optimism, energy and a huge love of interiors. I have also done it enough times now to determine what works for me:

- I always buy beds & mattresses new from ebay and get them delivered there (usually about $250-300 each total) and they can be easily sold afterwards
- I get statement pieces from a wholesaler or somewhere like Matt Blatt/Freedom etc
- I use my own plants/artworks/rugs/mirrors/styling nick knacks (these are important)
- the rest (cushions, chairs, bedding, lamps etc) I fill in from Kmart or Target

Don't underestimate the volume of items needed or the amount of effort. I often get a labourer to help me with things like hanging pictures, assembly of furniture etc

As mentioned, the styling also needs to suit the demographic and property. Could you get a consultant to help your parents determine what is needed and what to buy?

 

As a property stylist, I can tell you that after a day of property styling my body is killing me!! Another consideration is whether your parents are fit enough. Most things you buy will need flat packing, you have to get rid of the rubbish and more.

Styling decisions and getting the right stock together and all in the one place but its often the logistics and the leg work that are the killer.

If it were my parents in their 70s I'd recommend property styling especially with an inner urban apartment you do need to stand out in a competitive market.

The main thing to keep in mind is that as an investment property the styling is tax deductible (I am not accountant but I have many investor clients and this is all part of the selling costs).

Good Luck - Suzanne!

 

We jus did ours and paid a stylist. Doing it ourselves would have been way too much of a hassle.