September 14, 2006
Staging a Flip: Worth the Money?
I’m finally at the point where non-construction workers can safely walk around my flip house, so I met with a staging consultant this morning to see what it might cost to dress up my investment before it goes on the market. As you know, I’m already a bit over-budget thanks to the floor and plumbing problems, 
but I’m still toying with the idea of staging the house because I think it will really help buyers get over the modest size of the property. I would particularly like to put beds and a few accessories in each of the bedrooms so people aren’t scared away by their small dimensions (the smallest bedroom is only 9’ x 9’). Personally, I’ve always been surprised by how my perception of a space changes (for the better) after even the most basic furnishings are added.
So, back to my meeting with the stager. Upon arrival, she spent about 10 minutes walking through the house taking notes and then we went room by room to review her ideas. I didn’t agree with 100% of her interior design philosophy, but I liked most of her thoughts and would be happy to have hired her on the spot to spruce up the whole house if her price was right. Unfortunately, Bob Barker was nowhere to be seen and I think I’d have to scale back the staging significantly in order to justify the expense. I’d prefer to spend less than $1,000 on this phase of the flip and her estimate was more than two and a half times that amount. She is probably the least expensive stager in the area and I don’t think it’s an outrageous price given the amount of work required, but I’m still not sure if it’s a good investment. I haven’t seen the formal written proposal, but she should be e-mailing it to me soon. Once I have that I may go back and try to cut out everything but the basics (beds and a few other items for the smaller rooms) to see if I can I can dress up a portion of the house without breaking the bank. Feel free to chime in if you have strong feelings one way or the other about the value of staging a flip.
Flippers in Trouble…
Everyone knows the market has cooled and Flippers in Trouble has posted depressing figures on what homes in Sacramento sold for and what they are asking now. Maybe it’s not so depressing as this correction was bound to come……
I was having the same thoughts about staging a property for open house, but havent looked at any prices. What would it cost to go to Rent-A-Center and bedroom livingroom set for a weekend?
My stager tells me that most rental places will only loan furniture for a minimum of 1 month. I’m not sure what the exact prices are, but I know she was going to charge me about $500 extra for 2 beds and a few other random pieces that she would need to rent because she doesn’t have them in her warehouse.
Staging is always worth it. Look at the ROI, if the home sells faster you reduce your holding costs. It should sell for more money too. Hey there are no gaurantees. The housing market has slowed but there are still hot properties that are correctly priced, and staged that sell in a hurry for full price. That my 2cents worth. Blog on and stay cheese free!
this is a wild guess and I know I could be wrong so apologies in advance if that’s the case BUT sounds like Teresa Boardman is a stager pumping her “industry”.
The market is slow as molasses. DOo NOT do ANYTHING that will add to your expenses. Just sell that sucker fast and get out.
You are right that many people will look at an empty 9×9 bedroom and not be able to picture how it can hold furniture. So it’s a good idea to possibly put a bed in there.
Fankly, I’d move my OWN bed and dresser in there before I spent more money on a “stager” in this market.
Actually, Teresa isn’t a Stager, but an experienced Real Estate agent.
However I am a Stager, and not to pump up my industry, but in my experience, Staging can and does make a difference in both vacant and occupied homes. Staging is an investment just like all the other improvements you’ve made to this home.
You’ve made the investment to repair the floors, get it painted and all the other painstaking improvements you’ve made, why skimp when it comes to the final showing of the property? You don’t have to go overboard, definitely don’t be extravagant or frilly, but professional Staging is an investment that gets results.
Choose a Stager with a record of success. Talk to the Stager’s previous and current clients. Did they get results? Visit some of their Staged properties.
And remember, price the home correctly. Some homeowners are so impressed with the results of the Staging that they raise the listing price once they have seen their home Staged. Don’t make the mistake of overpricing your home because it looks fabulous. Price it correctly for your market, bring in as many buyers as possible and get it sold quickly.
I agree with Karen, I’d move my own furniture in there first and just sleep on the floor lol
Staging is not in my budget, so I will just light some nice smelling candles
Here’s an idea. Instead of paying to rent someone else’s stuff, take that chunk of money that you were going to spending on staging and shop around for attractive, yet inexpensive pieces that you can take with you to use in your next flip. Even better, scout out some weekend yard sales and I bet for next to nothing and one afternoon with a can of paint and elbow grease, you can have some decent pieces that again, you can take with you. The bathrooms are easy. All of the discount retail stores have decent inexpensive towels, shower curtains and the like to easily spruce up bathrooms. I would suggest white. That way, whatever color the bathroom, you’ll always have the right color to match. I know I missed your open house target but it’s still advice that you can use.
Sorry it took me so long to respond. No I am not a stager.