Rented quicker, for higher rent and to better tenants, or sold faster and for higher prices.
While I was working at Impression Real Estate I became passionate about presenting properties in their best possible condition. I saw time and time again that the properties that were well maintained and presented in their best condition rented quicker, for higher rent and to better tenants, or sold faster and for higher prices than those which were not. Recently I left Impression to continue my property journey in the property presentation area and started a homestaging company.
With in depth knowledge of the apartment market, it made sense for me to focus on staging apartments – an area which I had previously felt had a lack of options when it came to homestaging.
New Zealand continues to lag behind when it comes to getting in the right mindset with investment property. We tend to want to do everything ourselves, and with minimal money spent. While this is commendable in many ways, it also means many of us struggle to see an investment property as just that – an investment. Investments by nature do not cost nothing to upkeep. They tend to need some money spent on them in order to get a return.
I have been doing some reading on overseas markets to get an understanding of the differences the NZ market has. I found some interesting statistics compiled by the National Association of Realtors in the USA, where homestaging is almost a routine occurence. 32% of agents believed staging a property increased the dollar value a buyer was willing to offer for a home by 1-5%, and 16% believed it increased the dollar value by 6-10%. If we are looking at a standard apartment, even a 1% increase in value more than justifies the cost of staging. There are also many other less quantifiable benefits for staging apartments. These include making the apartment stand out from other listings in the same building, which in turn could decrease the time taken to sell the property. The same survey also found that 28% of agents believed buyers were more willing to overlook other property flaws if the listing was staged.
So how can you use this information to your advantage? Well, contacting a homestaging company to furnish your property is a great start! There are also a few other tricks of the trade you might like to keep in mind:
- Remove as much clutter as possible. People need to be able to imagine living in the property, and it makes it tricky for them to do this if there are personal belongings filling up every square inch available. Remember that in apartments storage is at a premium, and therefore storage spaces need to be clear of clutter as well to make them look as large as possible.
- Make sure your apartment is presented in a clean condition, and smells good. I use diffusers and candles when staging to ensure the property smells good for the duration of time it is listed.
- Have the property painted/carpeted with neutral colours throughout.
- Don’t fill small apartments with large furniture. Glass is non-intrusive. Couches which have space underneath the base are less intrusive than those which sit directly onto the carpet. Mirrors are also a good way to make rooms feel larger.
- Great art and plants elevate a property from being boring to amazing!
- Make the property as light as possible by having all curtains drawn, all lights on for viewings, and lamps in any dark patches. Consider changing bulbs for brighter daylight types if possible.
- Fresh flowers and small touches are the cherry on top which make a house feel like a home.
I am happy to work with you to ensure your property is presented in the best possible condition for rental or sale. Be sure to jump on my website www.nookstaging.co.nz if you wish to find out more about how Nook can help your apartment look sharper.