How Much Does Portland Staging Cost?
Even if you’re a first time Portland home seller, chances are you’ve heard something about the benefits of staging a home. Staging has become a standard feature of many major real estate reality shows, and it is undeniably fun to watch as lived-in homes are transformed into elegantly styled spaces.
But one thing these shows never tell you upfront is how big a chunk staging takes out of your wallet. How much does Portland staging cost? (We are going to tell you exactly.) And are you likely to see a return on your investment? We’ve reached out to some trusted Portland staging companies to find out how much staging is likely to cost. Keep reading for our analysis of how staging affects the Portland real estate market right now.
Why Should You Stage a Portland Home?
The argument for why you should stage a home you’ll hear most frequently is that it allows the buyer to imagine themselves in the space. There’s truth to this; when you open a home to prospective buyers, you’re selling a dream, an experience. The last thing you want to do is remind buyers of the clutter and obligation of everyday life. Staging helps streamline buyers’ impression of a home, letting them fill up the space with their own aspirations.
Besides this ephemeral effect, however, are other practical reasons to stage a home. De-cluttering a space makes it appear bigger, for one. But the appearance of a clean slate also encourages an impression that the home is well-maintained. Prospective home buyers are more likely to set aside their anxieties about hidden costs if everything is clean and in order. For reasons like this, staged homes tend to sell faster and often above the listed price.
Perhaps more important than anything in this particular moment, though, is staging’s effect on a home’s appearance online. According to the National Association of Realtors, 93% of people shopping for a home used an online website in their search in 2019. The full effects of the pandemic on the Portland real estate market are still to be seen. But it’s safe to say that the importance of a positive image online is at an all time high as buyers are likely to limit their in-person viewings to the most enticing listings. Staging has long been known to optimize the appeal of a space in photographs.
What Are the Costs of Staging a Home in Portland?
In general, you should expect a staging company to quote you a fee that covers design, materials, installation, de-staging, and the first 30 days. If the home has not sold after 30 days, the company will either charge a flat monthly fee or offer a prorated monthly fee for the continued rental. You can expect this additional rent to come out at about 20 – 40% of the original quote per month. The full bill will depend on the square footage and the number of rooms that are to be staged.
How much will staging cost in Portland? We reached out to three reputable staging companies to ask about their ballpark numbers for staging a 2,000 square foot, 3 bedroom 2 bathroom home. Chancellor Designs, Tiffany Home Design, and Staged to Sell all offer some of the highest quality staging services in the Portland area.
For a house this size, it’s likely staging from any of these three services will run you around $2,000. That’s including the main living spaces, bathrooms, and master bedroom. You can count on adding on several hundred dollars more per additional room (if you’s also like to stage other bedrooms or have multiple dining areas, for example). Adding outdoor spaces can increase the staging bill by up to $1,000 as well.
Chancellor Designs and Staged to Sell offer prorated fees after the first 30 days, meaning you can be charged by the week if the house sells earlier into the second month. Tiffany Home Design charges a flat monthly fee but at a friendly rate. All three companies noted that it’s atypical for Portland staged homes to stay on the market long.
Is it Worth it to Stage a Home in Portland?
It’s reasonable to feel some sticker shock once realizing that staging a home professionally will cost in the thousands. But if the seller has the funds to cover it, they should consider it an investment with good prospects. Fidelity National Title’s data for Portland tells us that the median price for a 3 bedroom, 2 bathroom house starts around $500,000. An $2500 investment in home staging is .05% of that price. According to the Real Estate Staging Association‘s 2020 survey of staged homes, 85% sold for 5% – 23% over list price. We take these numbers with a grain of salt, since RESA certainly has a horse in this race. However, even selling at 2% over the list price will bring you a return on investment of 300%. Not too shabby.
Given where the Portland real estate market is at right now, it’s a particularly good time to consider staging if you’re selling a house. Houses are solidly a seller’s market at the moment as supply can’t meet demand, instigating bidding wars. This means sellers are more likely to sell above the list price, and less likely to have their homes sit on the market for more than 30 days.
Tips for Finding A Portland Staging Service
If you’re considering hiring a staging service, we recommend asking yourself a few questions as you search.
What is the company’s aesthetic? Browse the Portland stager’s online portfolio to make sure you trust their style. Remember, this doesn’t have to match your style; in fact, it should generally be friendly to a variety of people. But you should be able to quickly ascertain that you’re dealing with quality designers. You’ll also want to make sure that their furniture set matched your home’s style.
How many rooms do you need to stage? If you’re budget-conscious, it is an option to stage only the master bedroom and main living areas. But always ask for what a service charges for additional rooms.
Should you add outdoor staging? Outdoor staging might seem like an afterthought. But if your home has an outdoor space that’s a selling point, highlighting it could really pay off. It is an investment though, since outdoor furniture is actually more expensive to maintain for the staging services. Expect your quote to increase.
What are the staging service’s monthly rates, and do they offer prorated fees? A prorated monthly rent count could save you big time if your house sells in the early days of the next month. This might not matter so much if you expect to sell quickly. Keep an eye on the Portland real estate market to know how quickly houses and condos are selling.
If you’re looking to make the most out of selling your home, check out our top 1% sellers agents today.January 13, 2021