I've heard that staging a house in order to sell it is a good thing to do. I've also learned that it is quite expensive! In your opinion, is it worth the expense?
It is most definitely worth the expense of staging a house. Consider this; the average price reduction of a house is about 10 percent of the original asking price. So on a $200,000 house, the first price reduction would be $20,000. Most homeowners begin to think about a price reduction after about a month on the market. And according to StagedHomes.com, 93 percent of ASP staged homes sell in one month or less.
Home staging fees can range anywhere from hundreds of dollars to thousands of dollars, depending on the condition and the size of the home. But on a $200,000 home in pretty good condition, the total price of the staging will most likely cost less than $5,000. So hiring a home staging professional is an excellent return on investment!
And home staging works in any market. If the market is depressed, staged homes will most likely sell before a price reduction is necessary. In a strong market, not only will the home sell faster, but it will most likely sell for more than the asking price. Bidding wars are not uncommon for well staged homes!