How Much Does Staging Cost?
Home staging is a really common real estate marketing tool that’s used to enhance the appeal of a home for sale. It aims to highlight the home's best features; and camouflage or distract from its flaws. The primary goal of staging is to furnish and decorate the space in a way that’s open, neutral and clutter-free. You want prospective buyers to be able to visualize the property as their future home and to erase a property’s previous inhabitants from view. It’s tough to visualize your family in a home when another family’s furnishings and belongings are everywhere!
A thoughtfully-staged home can often sell faster and at a higher price, making it a valuable tool in the real estate market. Despite the upfront costs, many sellers find that home staging pays off in the end through a quicker sale and increased sale price.
Traditional Staging
There are lots of different factors that go into pricing for home staging, although you should expect to spend several thousand dollars at a minimum. The size of the property, local market conditions, availability of home staging companies, and the listing price of the home are all important factors to consider. Typically, a home staging company will want a 30-day minimum contract (and often 60 or 90 days). A price between $3-$5 per square foot should be expected if you’re fully furnishing a vacant home with rented furniture. So a 2,500 sf home could cost between $7,500 - $12,500 to stage. Additional months beyond the first 30 days are typically charged a percentage of the initial month.
Partial Staging
If the price of staging an entire home has you feeling sticker shock, another option to consider is partially staging a home. This staging method can be a lot more cost-effective as it involves only staging a few key spaces in your listing. Ideally, the living room/great room; primary bedroom, and dining spaces would be staged. A buyer doesn’t necessarily need to see five similar bedrooms all staged. The cost of partial staging is typically charged by room -- between $300 - $750 per room, per month, which can work out to about $2,000-$3,000 per 30 days.
Virtual Staging
Virtual staging is a process where furnishings and decor are digitally inserted into photographs of an empty or cluttered property. It's often used in real estate to help potential buyers visualize the potential of a space, making it more attractive and appealing. This technology can showcase how furniture might fit into a room, or how different color schemes could transform the look and feel of a house. Virtual staging is very cost-effective compared to traditional home staging and can be an excellent tool for selling properties faster. It allows for customization and can present multiple design options, giving a versatile view of the property's potential.
If your listing is vacant or very lightly furnished - having it virtually staged will cost between $20-$30 per photo. Most homes require a minimum of 5 photos and a maximum of about 20. So the total for standard virtual staging would be between $100 - $600. As you can see, this is an exceptionally appealing option for homeowners with a limited staging budget. Granted, when potential buyers show up to view the listing it will be vacant, but getting them to the home is half the battle to begin with. Virtual staging also offers unparalleled flexibility as far as furniture choice and style designs. A virtual stager’s library is unlimited, while a traditional staging company is limited to the furniture they have on hand and available for rent.
If your listing is cluttered or more heavily furnished, you can expect to pay an additional $10-$20 per photo for virtual furniture removal. This gives you a clean slate to virtually stage.
Luxury Virtual Staging
As the virtual staging landscape continues to mature, another subsection of virtual staging is beginning to stand out. Luxury virtual staging offers all the benefits of standard virtual staging but is geared specifically towards luxury homes, high-end new construction and penthouses.The digital furnishings are of a higher quality, and specific pieces of furniture can be requested.The completed images are virtually indistinguishable from traditionally staged homes. Luxury Staging Pro (www.luxurystagingpro.com) is the leading luxury virtual staging firm, and they charge $35 per photo, plus an extra $15 per photo for virtual furniture removal.
Benefits
Traditional staging can create a tangible, immersive experience, allowing buyers to interact with the space and envision themselves living there. However, it can be expensive and time-consuming.
On the other hand, virtual staging is cost-effective, quick, and versatile, allowing for multiple design scenarios. Virtual staging can reach a wider audience through online listings, and it allows potential buyers to visualize the property's potential without physical constraints.
In conclusion, both methods have their strengths: traditional staging offers a realistic experience, while virtual staging provides flexibility, cost-efficiency, and a broader reach. You can expect to spend several thousands of dollars minimum for live staging, and several hundred dollars for virtual staging.
