There comes a point in time in most property owner’s mind when they may want to sell their property. Any rationale property seller will tell you that they would like to sell their house for the highest possible price. This is where home staging can help property sellers achieve the highest possible price for their property. Home staging is the act of transforming a home to become more desirable to prospective buyers (and tenants if the property is up for rent). Home staging may be a new concept in Singapore but in many other countries, the practice of home staging is extremely common. Generally, in the past properties would be snapped up in an instant and thus there was less of a need to home stage a property. However, the property market has slowed down considerably and this is where home staging can play a part in property transactions. There are many home staging companies available but there are some things homeowners can do to home stage their properties.
1) Declutter
This is perhaps the most important aspect of home staging. A cluttered, messy property prohibits potential property buyers from seeing the potential of the property. Remove any unwanted items like children’s toys, old magazines and newspapers, empty biscuit tins and boxes from clear sight. Place these items in the store room. Keep the living, dining, kitchen and bedrooms clutter free. Clutter makes a space look much smaller than it is. Removing clutter allows the buyer to visualise where their items should be placed. Dining and living room tables should be organised and beds should be made. Visualise yourself checking into your five-star hotel room. Your house should be close to that standard of decluttering.
2) Keep the house clean
Make sure that the property is clean before letting potential buyers in to view it. This is especially true for spaces like the kitchen. Give the kitchen hobs a good scrub and clean the grease off the walls. Ensure that rubbish in exposed waste paper baskets is cleared. Imagine seeing food wrappers in the waste bins in the bedrooms. This does put off many home buyers. I personally encountered a home buyer who withdrew a cheque in the midst of negotiation when he saw a half eaten burger thrown in the waste bin in the master bedroom.
3) Remove non-neutral items
Certain items like a statue showcase a homeowners individuality. However, when staging a home, such items should be removed. The potential home buyer may not like such items and it may conflict with his beliefs. I encountered a case whereby a particular house up for sale has two paintings of two prominent dictators on the living room wall. The property was only sold after the homeowner removed the paintings and shifted them to his new property.
4) Make the house welcoming
Placing a nice table cloth and some plants help to enhance the appeal of a property. In some instances, playing relaxing music may add to the appeal. Some homeowners go through the trouble of preparing freshly baked cookies and placing pleasant scents around the property to increase its appeal. In Singapore, our afternoons tend to be rather warm. Turning on the air conditioner before the potential buyer steps in can make the viewing experience more pleasant.
5) Fix up damaged areas
The walls may have stains on them and yes the buyer will probably give the house a fresh coat of paint but to increase the appeal of the property, these stains should be removed. Similarly, damages to wood floors can be easily repaired. Buyers may use such damages to knock a large chunk off the asking price even though the cost of the repairs may be very little. Simple repairs like damaged cabinet hinges and door handles can and should be replaced by a handyman.
6) Make the area livable
There are instances whereby there may be some slight road noise or perhaps the property is near a busy area like a playground. When buyers are viewing the property, the homeowners should use the space to show that such noise does not hinder the living conditions of the inhabitants. For example, by showing the buyers that when a television is turned on, the road noise is not audible may increase the appeal of the property.
7) Hire a professional home staging company
There are companies that can do the home staging for homeowners. These companies provide the furniture and items like plants and picture frames to increase the appeal of the property. Their service comes with a fee but in most cases, the higher selling price of the property makes up for the home staging charges.
Home staging is truly catching on in Singapore. The property market is much slower than before. It takes a great deal of effort to sell off a property. Homeowners can do their part to contribute to the successful sale of their property by adopting these home staging techniques.
Yours Sincerely,
Daryl Lum
www.daryllum.com
