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To stage, or not to stage?

Discussion in 'The Buying & Selling Process' started by Barny, 28th Oct, 2015.

  1. Barny

    Barny Well-Known Member

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    hi peeps, selling a home in Toowoomba start of Jan. Wanted to ask if staging is worth it for homes at the 330k mark?
    I'll call up to get some quotes tomorrow but I've heard it's usually bout 1-1.5% of the price of the home. Is it even worth staging a home at that price?

    Some info.3bedroom Home in the same street recently sold for 320 unpainted, old carpets, not presented to its potential. Been advised 320-330 is achievable, If I paint it and put new carpets in, as carpets look pretty poor and fraying 330 is likely.
    There's a 4bedroom place that's just come on the market in the same street also at 360k and their confident they will get it, same size block, very similar home.
    So do I bother spending the 3-5k to get....who knows, 340 max?
     
  2. wylie

    wylie Moderator Staff Member

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    Houses look bigger and better when staged. I would take the risk and stage it. It adds some "wow" (assuming it is not a complete dog box of course).
     
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  3. Barny

    Barny Well-Known Member

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    Do you think you could buy the furniture for less, and just sell it with the house, or sell it off later?
     
  4. wylie

    wylie Moderator Staff Member

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    We have done that before. Bought nice beds off eBay or gumtree. Cheap mattresses or even outdoor cushions can look like mattresses. Nobody is going to sit on the beds. Bought new doonas to use afterwards at home. Used our own nice bedding and bought some new too (which we kept afterwards). Bedside tables from home. Lounges, dining furniture and coffee tables from home. Lamps, rugs. We did this easily drawing items from my house and my parents' house.

    It was more work and time but cost us nothing. As soon as we were unconditional I resold beds I bought (or kept them for our sons as they moved from single to double). I sold things not needed and we carted other things back home.

    Has to "look the part" though. You cannot just chuck mix-matched stuff together.
     
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  5. Barny

    Barny Well-Known Member

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    May I ask what the total cost was?
    I'm in another state, so thinking I might just have to take the hit in price difference. Find out some options tomorrow I guess.

    Cheers.
     
  6. wylie

    wylie Moderator Staff Member

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    Cost was probably a couple of hundred in total actually spent as we only bought two beds and some linen. We staged a large house in Brisbane this year - five bedrooms, dining, lounge, patio, lamps, all linen, decorator pieces for six weeks at a cost of $4.8k. If you remind me tomorrow I will try to find the company name.
     
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  7. House

    House Well-Known Member Premium Member

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    I've heard that it's generally a good idea and helps boost the price. As long as you're not spending too much and designing it to your target market it should work in your favour. Ask local REA's of staged homes are having much of an impact.

    Haven't found any solid results/research on the $ difference between a staged and non-staged home but have heard of an $80k difference between 2 similar apartments with one being staged.
     
  8. Nathan Simon

    Nathan Simon Well-Known Member

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    Personally, for a cheaper home I don't see the value in it. At the end of the day it does help a buyer imagine themselves living in it, however I can imagine that an investor would be more the market it would attract to and they couldn't care less.
     
  9. wylie

    wylie Moderator Staff Member

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    It is a cheap way to ensure it is looking its best no matter who buys it. I agree with seeing if a local agent sees value in it. It will cost less than most agents will be pushing to be spent on advertising. If the target market is likely to be first home owners I say it adds that "different to the other houses" feel and for $2.5k is a gamble worth taking. Definitely seek out opinion of local agents though.
     
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  10. Barny

    Barny Well-Known Member

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    Was advised the market has changed from investors to home owners. 19/20 buyers will be home owners looking to purchase. Will get some quotes now actually. Thanks everyone
     
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  11. Barny

    Barny Well-Known Member

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    Never thought about this till now, can you claim the cost in anyway?
     
  12. peastman

    peastman Well-Known Member

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    We have staged 2 properties for sale.
    The first sold very quickly for a record price in the area. The second did not even get an offer.
    Hindsight is the only way to tell if it is worth it.
     
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  13. Barny

    Barny Well-Known Member

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    I'm guessing it wasn't in the low 300k price range
     
  14. Barny

    Barny Well-Known Member

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  15. peastman

    peastman Well-Known Member

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    It was a 2 bedroom unit in Outer East Melbourne a few years ago. Sold for record price for a 2 bedroom unit in the suburb. The staging really made it shine.
     
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  16. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    I think that is a very reasonable price ($3.5k) for a 4 x 2. Their work looks very good and the quality of the furniture is great.The good thing about not DIY is that you don't have to go install the furniture and take it down at the end. The furniture hire places do it all for you.

    Although your place is not a very expensive place I think the $3.5k could be easily achieved back in the price to make it more attractive than others, help it stand out, attract buyers from the photo ads (got to lure them in for that first time they look online) and help distract them from any other less positive notes about the place.

    People looking for a PPOR need to emotionally engage with a house to pay top dollar (at any price range) and staging really helps with that. Even investors are attracted to see how a place can be furnished and you might offer them the set of staged photos to use for their rental adverts.
     
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  17. Barny

    Barny Well-Known Member

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    I've decided I will go ahead with it, I'll try and nudge the price down slightly. I do believe staging is better than not. Even with additional traffic through will help, and differentiate between mine and others for competion. Most of the others are empty in the area, so it will give me a better chance.
     
  18. Tillie

    Tillie Well-Known Member

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    It really depends on the market.

    I have a 'cheapie' in the area that has both owner occupiers and also holiday house owners, rentals. REA said not to stage the house because for some reason here people value if the house looks like that it is available immediately.

    Sure enough she was right. We just signed the contract yesterday and a purchaser wanted 30 day settlement and rent it after the offer goes unconditional. He offered to sign licence agreement and pay market rent when waiting for the settlement going through.
     
  19. Scott No Mates

    Scott No Mates Well-Known Member

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    @Tillie - what an outcome.

    It goes against your selling costs to reduce your capital gain.
     
  20. Tillie

    Tillie Well-Known Member

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    A friend of mine is putting her property on the market (in Melbourne Eastern surbubs) She engaged the 'stylist'. The cost for 3 bedroom house is $3.5k. It covers consultation and plan and furniture rental for 6 weeks. The stylist liked my friends' taste and furniture and only added some pieces of furniture, some vases, bowls, pictures and bed linen. Her house looks amazing, but it already was like that before styling. She is one of those people who has impeccable taste. So in this case my personal opinion is that she wasted her money.
     
    Last edited: 8th Nov, 2015