Anyone associated with the real estate market knows well that trends ebb and flow based on a variety of outside factors, from the seasons to the state of the economy. Design preferences tend to fluctuate rapidly and luxury real estate professionals must stay attuned to emerging styles. Individuality is key — long gone are the days of formulaic interiors and bland decor.
In order to guide sellers and buyers properly, we have identified a short list of luxury home staging trends that will be important this year. Working with an experienced stager can help you maximize your impact as a well-informed and highly insightful luxury real estate professional in your market.
How to Boost the Appeal of a Property with Luxury Home Staging
Professional staging not only displays a property in its best light, but it can also decrease the number of days on market by as much as 33–50%.
Typically, professional staging, combined with professional photography and a comprehensive marketing plan, will boost the sales price by as much as 20% or more. Don’t ignore the benefits of professional staging when listing and selling high-end properties. The return on investment is generally higher for the seller, and the real estate professional also benefits in the process.
Luxury home staging costs vary, of course, from one market to the next, and rates depend on whether the home is currently occupied, or if it will require structural or architectural updates in addition to decor alteration, accessorizing, or furniture substitution.
Luxury home staging allows potential buyers to see beyond the lifestyle of the current owners, and to visualize how the home will adapt to both their family needs and individual personalities. Staging addresses such things as color, light, and room use, and even touches on improving curb appeal, landscaping, and maintenance issues. Effective staging not only enhances the appearance of the property but often improves functionality to elicit an emotional reaction as well.
Top 2023 Trends to Embrace for Luxury Home Staging
Here are four of the top trends that luxury real estate professionals should be aware of this year. Remember, adding positive energy to interiors in distinctive ways is always a good thing.
Let’s take a look at just a few ideas:
BLUR THE DISTINCTION BETWEEN INDOORS AND OUTSIDE
Natural light and views, outdoor plantings, and indoor greenery — a home that merges the natural environment with comfortable indoor living spaces is one that provides both shelter and comfort. Strive to achieve a balance between interior and exterior that offers easy transitions between defined rooms and the home’s natural surroundings.
MOVE BEYOND ALL-WHITE KITCHENS
Emerging trends still focus on clean-lined, functional workspaces, but are shifting towards natural materials, surprisingly soothing darker color schemes, and a more personalized approach.
Look for colorful art and accents, a mix of shiny metallics, unique lighting that can be dimmed and brightened as desired, and “easy-on-the-eyes” personal touches that complement the rest of the home. Note that the modern kitchen is frequently as much a “living space” as the living room!
EXPLORE ALTERNATIVES TO SCANDINAVIAN
While contemporary interiors are not likely to fall out of favor completely, there are some outstanding new contestants for design excellence in residential interiors.
Have a look at the latest mid-century modern styles for an updated twist on contemporary, or revisit the appeal of industrial design and Euro-tech for a new take on luxury interiors. Depending on the specific market, Boho chic, farmhouse familiarity, or coastal casual may also be in favor.
EMBRACE HOME BARS AND LOUNGE AREAS
If you remember the words of the hit song, Summertime, the phrase to remember for 2023 might be that “living should be easy.” To that end, a home bar and lounge area that will accommodate both family and guests in an informal setting is an emerging trend.
It might entail anything from an upscale wine bar adjacent to a media room, a full-scale cocktail bar and game room, a coffee bar in an at-home library, or even a lower level ice cream bar and soda fountain! No matter what the vision, this is a feature that your buyers might have on their “wish list.”
Stay Abreast of the Latest Trends
Membership in The Institute for Luxury Home Marketing is a great advantage as you seek to build your career in the upper tier residential real estate market.
Our Certified Luxury Home Marketing Specialist™ (CLHMS™) designation is recognized throughout the globe. Take advantage of the training offered and the information you’ll receive through The Institute’s Luxury Market Report, published monthly only for Members.
With access to training, certification, advanced learning experiences, and a network of successful real estate professionals throughout the United States and Canada to associate with and learn from, becoming a Member of The Institute is a valuable investment in your future success as a luxury real estate professional.