A Queensland property strategist has revealed their number one budget hack to boost your property’s sale value, and it may not be what you think.
Online research would have sellers thinking any increase in their property’s value may be limited without spending tens of thousands landscaping their garden, building an extra bathroom or renovating a kitchen.
However, there’s a dollar-saving secret real estate agents have been using for the past several years to see property values rocket and often exceed the asking price – “staging”.
Staging involves having a team of specialist interior designers replace the property’s furnishings and restyle the interior with temporary solutions to present the property in the best way possible.
The three-phase method involves a property stylist assessment, unique style plan development, and transformation before the property is showcased to buyers and the furnishings are removed post-sale.
Crown International Property Acquisition Consultant and Strategist Ardy Mauala told Build-it that property staging is always the best strategy.
“The furniture makes the property sell, and you haven’t done anything. It’s always the best option,” he said.
“It can result in a $50,000 difference in sale value at times, all for just spending a few thousand on staging,” he said.
Mr Mualana said he sold a Gold Coast apartment in 2020 for $560,000, which he again sold for $755,000 in 2022. The only upgrade made was adding a furniture staging strategy.
“The property’s value did increase significantly in that period due to market conditions, but staging the home allowed us to present it at its best, with a higher value, which then sold for an additional five figures above the asking price,” he explained.
Award-winning home staging company Brisbane Makeover Co. director David Manciameli said investment in professional styling is quickly offset by the sales price it attracts.
“The idea is to make the buyer a better profit and reach a quicker sale by making the property look more aspirational,” he told Build-it.
David said the best staging stylists will work with sellers to provide them with market insights and make strategic presentation decisions.
“By placing ourselves into the perspective of your ideal home buyer, we’ll craft a space that feels like home to them, he said.”
“Every dollar you spend on targeted, sophisticated styling is quickly offset by attracting the premium sale price while reducing the costs from a delayed sale.”
But do the statistics back the hack?
A six-year study by Brisbane’s Cape Cod Residential and the Interior Design Association found staged properties spent less time on the market and sold with a premium price increase of 3-10 per cent.
That was an average of $69,017, with 30 per cent of the homes staged achieving a premium price increase of $100,000.
Nearly half the staged homes sold within the first week, and two-thirds sold within 14 days.
Meanwhile, another study by LJ Hooker showed styling a property could boost the final sale price by between 7.5 per cent and 12.5 per cent.
Fees for home staging vary based on property size, location and rooms. Prices are typically based on a six-week campaign and can start from around $3,000 for smaller properties. However, it can reach more than $8,000 for larger homes.