How much does it cost to stage a house in Toronto?
When selling a house in a trending Real Estate Market such as Toronto or GTA, Its real business. Sellers want to maximize their returns by showcasing the absolute best. Research by the National Association of Realtors has shown professional home staging is likely to net between 8 to 10% higher selling price.
Staging is considered to be an investment in the cost of selling a home. Most Realtors from Toronto Real Estate Board suggest 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
Professional Home staging in Toronto is likely to cost between $4,000 to $10,000 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.
“SKYLIFE Real Estate Group, A boutique Real Estate team and one of Toronto’s Top producing Real Estate companies includes full & complete Luxury Home Staging services as an all-inclusive service within their standard Realtors charge and commission. We tried and tested the team at a Luxury Estate home in Vaughan; with a specific requirement of high end luxury furnishings. The staging team did a fantastic job showcasing the space & Realtors Negotiation was stellar.” — James K.
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. Also, if you are seeking luxury décor, this may change the price. It’s important to consult home staging companies prior.
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 reflect the cost. 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 much better price when they 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 Toronto Real Estate Housing market is Real Business that can maximize Sellers Returns quite substantially during any market condition. Hiring a PRO Realtor that is determined for the sellers best interest can significantly change the selling price. Also, showcasing your home at its best is probably a great idea to maximize your returns.
