Renovation and Home Staging

The Property BrothersHave you ever seen the HGTV show – Property Brothers? It's incredibly popular. In case you are not familiar with it, handsome twin brothers – Drew, a real estate agent, and Jonathan, a contractor – create a dream home from a run-down home. First, the brothers show the clients a dream home they fall in love with, "then drop the bomb" that this beautiful home is way over their budget because it has the latest design features and amenities. Simply put; renovated homes are worth more money. Then, the Property Brothers hunt for an outdated, run-down home and renovate it to suit the budgetary and design needs of the client.Of course, they can buy an outdated home much cheaper than an up-to-date home. Usually Drew is able to negotiate a price that is far below the asking price because of the outdated condition of the home. When the home is not updated, buyers want it at a reduced rate – even if it is priced appropriately. Unless the home is priced under market value, it will most likely stay on the market for a long time. When a home stays on the market for a long time, it will sell below asking price. The national average is an 8% price reduction after 3 months.When a home is up-to-date and professional home staging has been employed, it will sell quickly, and many times it will receive multiple offers. Multiple offers will most likely result in an over asking price offer.The brothers usually have a hard time convincing their clients to jump into a renovation. Jonathan is the contractor, who puts fourth design ideas to the buyers. A common theme with most buyers is the anxiety and dread they have about undergoing a home renovation. They worry about design choices. They worry about going over budget. They worry about getting the home completed on time. Worry. Worry. Worry...By the end of the show, the buyers have a beautiful home that has been beautifully designed architecturally, and staged with many of the same home staging trends we use on every home staging job we do.before & afterWhen we meet new home staging clients and view their homes, many times we find that the home needs updating and renovation. Many times the sellers are unwilling to update the home before selling. They worry that they will not recoup their investment or it will not be worth the time it takes. These concerns are valid, and should certainly be discussed with your real estate agent. However, we have found that:

  • Buyers do not want to do any work, they want a move-in ready home
  • Buyers are busy, they don't want to deal with a renovation, even a simple one
  • Most buyers don't even want to paint, although painting is an easy low-cost update
  • Almost all buyers shy away from wallpaper removal
  • Buyers don't want to purchase a home and then spend time and money before they can move in
  • Most buyers stretch their budgets to purchase their new home, there is no money left in the budget for renovation
before & after
The most common objection to updating we hear from sellers is, "Buyers will want to renovate their way." We feel in most cases, this is not correct because most buyers don't know exactly what they want. However, they know when they see something they like. When they do, they can imagine living with it. When they home is outdated, they can't imagine the possibilities, and will not make an offer. When a renovation is in the architectural style of the home, buyers will not find an objection to it. This is why painting cabinets and swapping out laminate countertops for granite is a smart, relatively inexpensive, update. We rarely suggest major renovations, such as moving walls, like the Property Brothers do. Home staging is about making the home look great with a minimal investment. Home staging is used to make buyers imagine themselves living in the home, even if there is a major renovation needed in the future.before & after
Talk to your real estate agent and get his or her opinion on the return on investment you'll get from simple updates like changing the paint colors on your walls, having your cabinets professionally painted, changing laminate for granite, and home staging. The chances are, you will receive a great return on investment, and it will be worth your while to invest in these updates. Home staging has a return on investment of 399% nationally. When renovation is coupled with home staging, your home will be positioned for a fast sale.Professional home staging coupled with an up-to-date appearance, will show the home to its best and it will come on the market strong. When a home comes on strong, it will most likely sell quickly, for more money than its competitors. Read our blog "Buyers Desire a Move-in Ready Home" for more information.Down load our free "What Buyers Desire" guide at the link below.Click to DownloadTo get your home in top selling condition, call us today for a FREE in-home consultation at 781-489-8489.SaveSaveSaveSaveSave