Selling a vacant home presents unique challenges that homeowners need to navigate carefully to maximize their potential returns. Whether you've already moved to a new home or the property has been left empty by a previous tenant, ensuring it appeals to buyers is crucial. An empty home can become a liability with concerns ranging from insurance and maintenance to security issues, not to mention how it appears to prospective buyers.
First and foremost, staging a home has been proven to significantly enhance its marketability. According to studies, furnished homes not only sell faster, reducing the market duration by up to 78 percent, but they also fetch prices closer to the asking price compared to their unfurnished counterparts. Homeowners trying to sell a vacant property can benefit greatly from professional staging services.
Professional home stagers bring in decor items such as furniture and accessories to create an inviting atmosphere that taps into a buyer's emotional response. The cost associated with these services varies, with averages reported between $348 and $803, though exact pricing can depend on your location and specific needs. Platforms like ImproveNet even offer calculators to estimate your staging expenses based on ZIP code specifics.
If hiring professionals isn't an option, consider staging the home yourself. Focus on key areas like the living room, dining room, and a couple of bedrooms. Resources for self-staging are plentiful, with design ideas available on HGTV, Pinterest, and HomeStagingChannel.com’s YouTube content, providing inspiration and guidance.
Alternatively, you may explore virtual staging options which involve digitally furnishing the home. Virtual staging can change wall colors, floors, and add furniture in a cost-effective way, often ranging from $40 to $100 per photo. It is essential to clearly inform prospective buyers that images are virtually staged to avoid any potential disappointment when they visit in person.
For more upscale properties, consider the possibility of employing a professional tenant through services like Showhomes. These individuals live in the home temporarily and bring their own high-quality furnishings and decor, creating a lived-in feel. While this option typically suits homes listed at $500,000 or more due to cost implications, live-in staging can add considerable appeal, offering a dynamic view of the home to potential buyers.
Fees for resident managers range from $1,000 to $3,000, with some companies requesting a sales price percentage. Selling a vacant home can be a daunting task, but by employing strategic staging techniques, both physical and virtual, you can enhance the property's attractiveness, ensuring it stands out in the competitive real estate market. Always aim to make the home look lived-in and inviting, even through simple enhancements, to connect emotionally with buyers.
Rob Proctor, Broker/Owner of At Home Real Estate Company, offers expert insights into the Northern Colorado market, with a steadfast focus on Loveland, Fort Collins, Greeley, and Windsor. To learn more or seek advice, reach out via phone at 970.481.2133, email [email protected] or visit athomerealestateco.com.
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