How much does it cost to stage a house in Toronto?
When selling a house, the sellers want to get the best possible price. Research by the National Association of Realtors has shown that if you use home staging companies, you are likely to get between 8 and 10 percent more money for your sale.
Staging is considered to be an investment in the cost of selling a home. Most realtors say that you are likely to spend between one and three percent of your sale listing price for a good home staging company.
What is home staging?
Home staging is the process of staging a house by putting in furniture, wall pictures, rugs, etc., in order to bring out the best in it so potential buyers will be able to envision the house as their home. Usually this is not the same furniture and other items that the original owner had in the home, and the job is done by home staging professionals.
Home staging costs on average
The first cost from a home stager is when they come to the house for the initial consultation. This normally runs between $150 and $600 for a two hour session. If they are hired, the average total cost for staging a vacant home that is one story in size and consists of about 2,000 square feet is $4,000.
Then, each month the house doesn’t sell will cost on average an additional $2,000 a month. Of course if your home is smaller or bigger than 2,000 feet the cost for staging could be either lower or higher. It all depends on the company you choose to do the job.
How do these costs come into play?
For one thing, it all depends on exactly what is decided in the consultation with the professional home stager. For instance, some home sellers may only agree to certain parts of the house being staged, while others would want the entire property done.
On average if someone only wants, for instance once room with a size of around 12 feet by 12 feet done, it may cost between $400 and $700, then around $500 to $600 a month to rent the staging materials each additional month the house doesn’t sell. Of course if the room is bigger, it will cost more than this amount, so you must speak with the particular home staging company you decide to use.
Occupied vs. Unoccupied home staging
If the home sellers are still living in the house while it is for sale, the staging process will be handled differently and will likely cost less. This is because they will possibly use much of the current owner’s things to show off the property. However, the stager will charge for doing things like decluttering the house, arranging things in a pleasing fashion, pointing out damage that needs to be repaired, etc. In the long run, the cost to stage an occupied house is likely about half that of a vacant house.
Pros and cons of home staging
So, with all these costs in mind, is it really worth it to hire a home stager if you have a house to sell in Toronto? The answer is yes, because staged homes on average are seen to sell faster and bring the seller a better price when they do sell.
What are some of the associated costs with home staging events?
Besides the fees for the consultations and monthly rental fees, some of the associated costs of home staging if required could include costs for painting, upgrading home lighting, cost of any needed home repairs, and the cost of any professional cleaners. These could all add thousands of dollars to the final cost.
The bottom line is that the housing market in Toronto determines how much houses will sell for depending on if the market is in the seller’s favor or vice versa. So, hiring a home staging company could give you an edge over other sellers. Ultimately, it’s up to you as the seller to decide whether or not to hire a home stager.