The common issues in most houses going on the real estate market
are: decluttering, cleaning, neutralizing and depersonalizing. The
extend required varies house to house.
In Home Staging, there are no general rules of thumb that can be used
for all houses. No two houses will ever be the same. There are a wide
variety of variables and circumstances that can come into play.
The budget the seller has available or does not have available to prepare
the house for sale. Some sellers have done regular maintenance and
updating to the house on a regular basis and less work if any is required.
Some sellers have lived in the same house for 10 years and have not
done any work on the house. There are repairs that need to be made,
items needing to be fixed, replaced or updated.
There is the time factor. Is the house going on the real estate market in
a week or are there several months to prepare it for sale. More time to
prepare allows for more improvements to get done. Again, depending
on the state the house is in. Can the seller do the work themselves?
Does the seller need to hire a contractor or trades person?
The type, style and color of furniture and accessories the seller has or in
some cases does not have. Is the color and décor of the house neutral and
updated, including window dressings, floor coverings, bedding and linens.
Another factor is the price point of the house. A potential buyer does not
have the same expectations from a low end priced townhouse as they would
from a million dollar mansion. For example a $30.00 light fixture might look
great in the townhouse, but would not be appropriate or suitable in a 2 million
dollar luxury mansion.
What target market is the house most likely to appeal to? A condominium in
the downtown core would appeal to one buyer and a 4 bedroom house in
suburbia would appeal to very different potential buyers. Each house should
be staged accordingly. When a house is Staged for sale it should appeal to
widest range of potential buyers in the target market for the house.
What message is your Foyer or Entrance making? In a previous
article, I talked about the outside entrance. Now, I want to talk
about the inside entrance. The outside entrance is like the cover
of a book. An interesting cover and title will cause the reader to
open the book and want to read further.
Once the reader has opened the book, the Foyer or inside Entrance
is like the introduction or Chapter 1. The seller wants to get the
potential buyers attention, stir interest and the desire to continue
looking at the house as their future home. As in the first Chapter,
if the reader is bored or tuned off, there is the chance they will
not continue or just skim through without taking in the essence
and all there is to offer.
This is where the first impression is made. I can’t stress enough
the importance of the first impression. There are various beliefs
on how long it takes to make a first impression, but the consensus
is that it is not very long and hence the ever popular expression,
“You only have one chance to make a first impression.”
The main factors to consider are: cleanliness, clutter, the lightness and
brightness, and the décor and color. Is the door mat, new, clean and
co-coordinated with the entrance? Is the area clean and uncluttered or
do the potential buyers have to step over a pile of shoes to get inside.
Is there a pile of coats, gloves and hats on the banister, railing or a chair?
Is the entrance dark or dated? Update the light fixture to one with
several light bulbs, putting in the highest wattage allowable. Is there
dark or dated wallpaper or paint? Remove old wallpaper, brighten
and freshen with a coat of neutral colored paint. Paint is the quickest
and cheapest way to update. A mirror strategically placed can make
the space look more spacious and open, as well as reflect light.
Every entrance is different. What can you do to make your entrance
welcoming, appealing, and interesting so the potential buyer will want
to see more?
Home Staging can help.
Lydia Pollard Owners Pride Home Staging & Design Serving Mississauga, Oakville, Brampton, Milton & Etobicoke
905-272-4764 www.ownerspride.ca lydia@ownerspride.ca
When you go shopping to a jewelry store, a big box store or any store for that matter,
the price is marked and that is the selling price. The store determines the price, the
sale price or the discounted price if it is a clearance item. Of course, there are exceptions
to every rule, but this is generally how it works. The buyer can either buy it at the marked
price or leave it. In the real estate market a house is only worth what a buyer is will to pay
for it. You can compare it to an auction or a garage sale. The seller starts at a price they
feel is fair, then it is negotiated, this negation can go either up or down. The final price is
always up to the buyer.
The selling price of a house varies and is dependant on many factors. For a more
detailed explanation, you should talk to your Real Estate Agent.
Some of the factors that you have no control over are supply and demand. In a
buyers market, where there are more houses up for sale than buyers, the price
tends to go down and there is more negation. In a sellers market, where there
are more buyers than homes available for sale, the opposite is true. The house
tends to sell at a higher price.
In order to determine the fair market value for your house at any given time,
your house is compared to the other comparable houses on the market and their
selling price. It is estimated against comparable houses that have sold recently.
Factors that are considered are the location, the size and the condition.
It is wise for sellers to frequent Open Houses of comparable house; this will let
you know what your competition is. Look at the houses with the eyes of the most
discriminating buyer. How does your house match up? If you were the buyer which
house would you buy and why? Are there improvements you can make to your house
so that it will be more desirable that the competition.
Home Staging could play a large role in make your house more competitive in the
market. You should look at Home Staging as an investment. You can’t change its
location or size, but you can enhance its presentation. Your home is probably your
biggest investment, you want to maximize your return on investment and protect
your equity. Should your property remain on the market for an extended period of
time, the cost of Home Staging would be less than a price reduction, additional mortgage payments, taxes, insurance and utility bills, not to mention the inconvenience
of not being able to move on.
Wishing you and your family all the best over the Holiday Season!
