The Economics of Everyday Things 15. Home Staging
Aug 28, 2023
Learn about the origins and importance of home staging in the real estate market. Discover the process of home staging, including color palettes and optical illusions. Understand the impact of personalization and the exceptions for famous individuals. Explore successful home staging stories and the use of props. Compare home staging to dressing up for a date and making the house attractive to buyers.
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Staging Became Essential With Online Photos
- Online listings transformed staging from optional to essential because buyers judge homes by photos first.
- Staging became necessary as sellers competed for attention in digital marketplaces.
Budget Staging As A Percentage Of Price
- Budget staging at roughly 1–3% of asking price, with full stages often $2,000–$25,000 depending on size.
- Expect staging to often shorten time on market and sometimes boost sale price up to about 5%.
Rotate Inventory To Recover Costs
- Maintain a large, varied inventory and track usage to amortize purchases across rentals.
- Expect heavy wear from frequent moves and aim to rent pieces at least five times.