The term “staging” was first coined in 1972 by Barbara Schwartz, an interior decorator turned real estate agent. Early in her career, she noticed that homes that presented well often sold faster and for more money. Her innovative methods soon caught on and took the real estate world by storm. Since then, homeowners have used staging to maximize the value of a sale in any market. However, over the last few years, some people have started to wonder if the technique still has merit.
During the real estate boom of early 2022, many homeowners in Toronto decided to forgo the practice. With so many buyers competing for precious few listings, houses often sold within days of hitting the market, staged or not.
Since then, a series of interest rate hikes combined with economic uncertainty has cooled the once hot market. However, the question remains: Is staging still worth it? As with anything, there are advantages and disadvantages.
Staging: The Pros and Cons
The downsides of staging are the costs and the amount of work involved. Plus, many homeowners find living in a staged home stressful. You will have to take meticulous care to maintain the effect, which can get challenging, particularly if you share your home with children or pets.
However, the benefits of staging are obvious and nearly always outweigh the negatives. Your chances of a fast sale increase significantly, and staged homes typically earn more than those that are not. Plus, there is just something about walking through your home after the professional designers have worked their magic. Your house often looks like it could be featured on a magazine cover.
Do you want even more advice on preparing for a successful sale? The posts below will point you in the right direction:
- Selling Your Home? Here’s How to Maximize its Value in Any Market
- Everything Sellers Need to Know About Offers
- Home Renovations to Make to Improve Your Resale Value
Real Estate Transactions Are Highly Emotional
Now that the concept of staging has become so well-known, you might be tempted to believe it has lost some effectiveness. Potential buyers know that the seller has designed and decorated the home for maximum appeal. Why does staging still continue to work so well?
When you consider that real estate transactions are not purely logical, it makes perfect sense. A potential buyer will look at the numbers and analyze the structure of the house. However, the final decision is often more emotional. Staging helps them imagine their family living in the home. The more inviting the house appears, the more desirable it becomes. During slow times, effective staging can mean the difference between your home selling and not selling. It can also increase your final price even in a busy seller’s market, especially if your listing generates multiple offers.
How Staging Works
When selling your home, you always want it to look its best. Staging, however, takes it to the next level. The goal is to create a blank canvas to stimulate the buyer’s imagination. You’ll want to rid your home of as many personal touches as possible so the buyer can create their own picture. The result often looks like a model home, decorated beautifully, leaving plenty of room for the buyer to make it their own.
Staging Can Be Simplified
In spite of all of the benefits staging offers, the time and expense can be intimidating to many people. But what if there were ways to simplify the process that still help you get the maximum results? A complete overhaul may not be necessary if your home is relatively new or well-maintained. And if you have a flair for design, you could stage your home yourself at little to no cost. The following tips will help you catch the attention of potential buyers.
- Start by decluttering your home as much as possible. Remember to check the insides of closets as well. They appear larger if they are clean and organized.
- Remove all personal photos, knick-knacks, and souvenirs and pack them away where potential buyers can’t see them.
- Once the clutter is gone, it’s time for a deep clean! Pay particular attention to areas that often get missed, including appliance handles, doorknobs, and baseboards.
- Make a list of minor repairs that you can take care of quickly that make your house stand out. A fresh coat of paint and new silicone around sinks and bathtubs can make a world of difference!
- Remove all furniture and decor items that aren’t 100% necessary. Remember that less is more when it comes to staging. Minimizing your furnishings improves the flow of a room and makes it appear more spacious.
Have you ever wondered why estate values in Toronto are higher than anywhere else in Canada? It’s because of the high quality of life and non-stop list of exciting activities and amenities. Find out more in our posts below:
- Hiking in the East End: Our Favourite All-Season Trails
- Our Top Boutique Shopping Experiences in Toronto
- Toronto’s Top Dining Experiences: The Michelin Guides
A Toronto Real Estate Agent Can Guide You
Should you use an outside company to handle your staging? This decision often comes down to current conditions in the real estate market and what other sellers in your area are doing. While your home needs to stand out, you only want to invest the time and money on professional designers when you are confident it will get results. A constantly changing market can make it difficult to decide.
Fortunately, a local real estate agent with experience in all conditions can guide you. If you decide to bring in an outside company, they can refer you to a reputable professional. If you prefer to do it yourself, they can offer the up-to-date guidance and information you need to get maximum results. The end goal is a successful sale with the minimum effort on your part.
At Erica Reddy Real Estate Team, we specialize in taking your home from its current state to absolutely flawless. If you need advice on how to get started, we’d love to help! Reach out today at ERICA@ERICAREDDY.COM or call 416.443.0300 with any questions you have.
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