Staging Your Flip Like A Professional
By: Kelly Smyth, Real Estate Investor & Staging Expert
When selling real estate, it is crucial that your property look its best both inside and out! So much emphasis in flipping a home are the renovations and getting the work completed. What about after the work is all done?
There are two important parts of flipping a home. The first is the renovation, where you rehab the home and the second is being able to sell the property and attempt to sell it rather quickly. Effectively staging goes a long way towards helping you sell your flip quickly as well increase the profits and your return on your investment.
Home staging is one of the most effective tools for house flippers. When flipping real estate, staging a home is to infuse some life and energy into your newly renovated space rather then a showcasing an empty house. Remember, the purpose of staging a home is to make it easier for the buyer to envision themselves living in your newly renovated space.
Most everyone thinks they have a good design sense and style and can do it themselves these days. This is simply not true! Scale, color, style, trendiness and flow room to room all play an important part.
Here are some staging tips:
1. Focus on the strengths of the space. You want to accentuate the best features in the home, whether that be the new open kitchen or the beautiful stone fireplace. You could also help the buyers imagine what it would be like to sit outside on the newly renovated patio.
2. Create good lighting. Whether it is natural lighting or lighting from fixtures in the room, creating good lighting is a great way to stage a home. Good lighting is essential in showing off all the new renovations to your home.
3. How you arrange the furniture is important. You want each room to look open and spacious. Most buyers consider the space when looking at a potential new home. One way to do this, is by arranging the furniture in such a way that the buyers can see how they can use a room. If the rooms are smaller, you may want to push the furniture up against the walls to have the rooms appear more spacious and cozier to live in.
4. Once you have some furniture in place, it helps to accessorize to give each room extra warmth and that comfortable feeling. You don’t need to spend a lot of money on accessories. A vase with fresh flowers on the kitchen table perhaps.
5. Keep the décor neutral. Neutral does not mean completely white or tan, but it does mean staying away from bright bold colors that would be difficult to repaint. It is about knowing what works for each room and give the space some unique appeal.
These are just some of the things to consider if you are investing in renovating a home for a quick resale.
According to the National Association of Realtors, for every $100 invested in staging, the potential return is $400. Compare that to the average sale price, which is a reduction of 10-20% from the asking price.
Staging a home will not make your home sell for more than it is worth, but you can set it apart from the competition. It will cut time on the market and will be a great way for potential buyers to visualize their future in your newly renovated space.
- Kelly Smyth