There is a good article (To Sell an Apartment, No Detail Is Too Small) in the Times today that highlights the importance of staging and enhancing how a property shows.
Of course you know the importance of this already, but the article is novel because they attempt to put a dollar value on simple staging and repairs with examples from NYC agents and their listings. For example:
- Clutter: Subtract 5 to 15 percent.
- Fresh towels and throw pillows: add $25,000.
- Dirty rugs: subtract $5,000.
- Regrouting tile: add $100,000 (to a $3 million apartment, that is).
- New fixtures and appliances: add $250 in rent.
- New lights: add $32,500.
- Replacing cabinets: add $107,000.
Of course in your market, mileage may vary! They nailed it at the end though with an insight about the fact that buyers aren't buying a home, they are buying a LIFESTYLE:
An expensive shoe closet: worth every dollar. Michele Kleier of Gumley Haft Kleier has found that when buyers walk into a closet filled with Christian Louboutins, they are likely to pay more of a premium than what the seller spent on her shoe collection. She advises sellers, “You can buy 25 pairs of designer shoes, put them in your closet, and they’re going to get more than you spent on them.” That’s because, Ms. Kleier said, “people want to step into your life.”
If the shoe fits...
