Tips for Staging Your House on a Budget
Selling your home -- whether with the help of an agent or FSBO -- is complicated and time-consuming. Getting your home market-ready can be expensive too -- from cleaning and staging to listing and marketing. However, staging your home properly can lead to better offers, a faster sale and an overall more effective listing -- both in person and online. In an article for Forbes, Vanessa McGrady notes that “according to the NAR, for every $100 invested in staging, the potential return is $400.” In her article, McGrady quotes home stager Betsy Wilbur, who has found that “staging can save you from a costly price reduction…[with] a staged home selling for 17% more on average than a non-staged home.”
Staged homes not only sell for more than unstaged homes, but they also sell faster -- “statistically 87% faster than non-staged homes,” according to Wilbur. Unfortunately, staging often costs quite a bit up front -- whether you work through a staging company or you do it yourself. Consulting with a professional stager will likely bring in higher offers than staging on your own, given their expertise in the area. HomeAdvisor explains that the help can come at a steep cost. Their article "How Much Does It Cost To Stage A House?" lists the average home staging project cost as $1,227.00. If it takes a while to sell your home, though, "full furniture rentals can cost $6,000 or more for extended periods." If you decide to stage your home on your own instead, there are a few additional things to consider. These range from current decor trends to changes in home buyer demographics.
When furnishing and decorating your home to list on the market, an unfamiliar homeowner might fall into a number of traps. Many homeowners include too many personal items because they consider the memories made within the home to be a value-adder. Unfortunately, prospective buyers largely prefer a home staged more closely to a blank slate. However, some homeowners will swing too far in the other direction, leaving the space too sparse. Clearly, it can be difficult to strike the perfect balance between inviting and impersonal without overspending. Follow below for a few headache-free tips for staging a house on a budget!
5 Steps to Staging a House on a Budget
Keep it Simple
In his article “8 Cheap Tips For Staging A Home,” Re/Max real estate agent Kyle Hiscock encourages sellers to keep it simple. He recommends sellers remember that “when staging a home on a budget...less is more.” Aside from being a budget-friendly choice, de-cluttering your home as part of the staging process makes it more attractive to buyers. Hiscock writes that “the primary reason to remove personal belongings...is because prospective buyers can become distracted when viewing a home by these belongings.” Decorating and furnishing your home simply will appeal to the greatest number of buyers. This is because it allows them to transpose their own ideas on the space.
Simplicity is also elegant, especially during a time in which minimalism is so popular. In her article “5 Fail-Proof Ways to Make Your Home Look More Expensive,” Tess Wilson of Apartment Therapy recommends moving towards minimalism. Minimalist decor makes for an effortlessly elevated feel. Wilson writes that “we live in a time when minimalism is coveted." As such, stuffing your home with expensive pieces is not only pricey, but might also be a turnoff for potential buyers. Wilson recommends investing in a quality dining table and chairs. However, homeowners should leave behind the extras like “benches, buffet tables, bar carts, rugs, art and a chandelier in [their] dining rooms.”
Repurpose What You Can
When staging your home on a budget, there is really no reason to go out and purchase an entire set of brand-new furniture. Instead, stage your home with pre-existing furniture that is still in good condition and is not too dated. Consider rearranging the furniture in your living room and bedrooms to freshen the space. You might also consider repurposing certain items for other rooms -- e.g. moving a living room accent chair into a home office. However, be sure to remove any clunky, overbearing furniture, Re/Max agent Kyle Hiscock recommends. Large furniture that does not mesh well with surrounding elements can make the room feel too small and overly cluttered.
Apply a Fresh Coat of Paint
Conventional wisdom has dictated that staged homes be painted in whites, beiges, or grays -- referred to as “neutrals." However, organic colors have been gaining ground amongst prospective homebuyers in recent months. This increasing interest in natural, earthy colors has emerged as part of the “biophilic” design trend. This trend which -- as mentioned above -- has captured the minds of many prospective homebuyers. To respond to this trend, you might consider repainting several -- if not all -- walls of your home in organic shades. The article “Home Staging Trends in 2020” for RealEstateRama recommends choosing new paint in “well-balanced shades of earth.” The article’s author explains that “olive green, ocher, and mild wine” can offer a new sense of depth to a space. They can also add an atmosphere of “tranquility in houses." This can "appeal to potential customers” by replicating the grounding effects of nature.
Focus on Lighting
According to the Homes.com article “Trends for 2020: Dos and Don’ts of Staging Your Home,” “lighting can show off all your home’s greatest assets.” While effective, adding wall lights or recessed overhead lighting is often expensive. Easier, cheaper ways to upgrade the quality of light in your home include replacing dark, dusty lampshades and fitting windows with light, breezy curtains. You might also consider swapping out fluorescent or halogen bulbs for LEDs. Replacing outdated, once-trendy table and floor lamps with either classic or contemporary silhouettes can also go a long way to improving your home’s interior. You can also hang mirrors throughout smaller living spaces -- e.g. guest bedrooms or a home office. This serves to bounce light around the room, making it feel larger and more open. Adding metallic elements in decor objects will contribute to this effect.
In her article “10 Sneaky Tricks to Make Your Living Room Look Expensive” for Realtor.com, Holly Amaya recommends changing out clunky table lamps. Amaya suggests swapping table or floor lamps that take up too much space in favor of plug-in wall sconces. Quoting Chicago-based designer Clare Barnes, Amaya writes that this cheap trick “won’t require any labor.” Swapping out table lamps for plug-in wall sconces will “'update a space without bearing the cost of rewiring a wall.'” You can further this effect by adding dimmer switches to wall and overhead lights for a luxe feel, Barnes explains. Transitional lighting “makes a room feel expensive [and] lets you adjust the lighting so a space feels warm and cozy."
Stick to a Color Palette -- Especially Across Soft Finishings
Tess Wilson explains in her article “Ways to Make Your Home Look More Expensive” that integration is key to an elevated home interior. Wilson writes that “committing to a unified palette [and] adding affordable coordinating pieces [will] keep everything looking intentional and chic.” Just make sure your linens and other textiles are not so identical that they feel either kitschy or lackluster. Holly Amaya offers an alternative in her article “10 Sneaky Tricks to Make Your Living Room Look Expensive” for Realtor.com. Amaya recommends mixing textures, shades and “materials to create a look that's collected, not matchy-matchy.” Maintain a similar color palette throughout your home, but do so with a variety of textures and tones. However, be sure to match pillowcases to corresponding sheets in each bedroom to avoid a bizarre discordant effect.
Following these five tips for staging your a on a budget will likely attract more buyers -- and thus, more quality offers!