How we helped a homeowner add 25% to their property’s market value – A case study
How we helped a homeowner add 25% to their property’s market value – A case study
With helpful advice from an experienced KORE property agent, the owners of this three bedroom, two-bathroom home in Engadine achieved a result that made them very happy.
Martine Dippre met with owners of the home about five months before putting it on the market to discuss how they would create a successful marketing and styling campaign. With her expert eye, Martine recognised that with a bit of help and careful rearranging of a number of rooms, the home could be elevated to the next level.
The first thing to do was to look at any concerns that might stand out to prospective buyers. Martine worked with the owners to improve the aesthetic of the home to increase value. Together they agreed the best idea was to hire contemporary furniture for the sales campaign to showcase the home at its best.
The upstairs living area was a lovely family space but the layout made the area look fairly small. The owners cleared out all their furniture and put it in storage. Contemporary furniture was the hired with styling focused mainly on the living/dining space. What was created was an open and bright area that not only looked great in pictures but also very desirable to prospective buyers when they visited.
A full digital and social media campaign was run and after only five inspections, the property sold prior to auction.
‘The styling added around 10-20% in buyers minds as well as encouraging a large number of buyers through the door. Compared to other homes on the market the styling probably added 25%,’ said Martine.
Focussing on styling to increase value
Martine said, ‘I highly recommend bringing in styling to increase the value of a property. Bringing in professionals to work with weak areas and to highlight the strengths of a home without doubt increases the sale value.’
Some ideas Martine mentioned were choosing the right size of furniture for a room. Using a smaller bed in a bedroom can show how rooms feel more open and modern and give a better flow. Often it takes an experienced eye to think of styling ideas that you, as a homeowner wouldn’t consider. An example of this is flipping a dining room into a living room, if the spaces work better that way.
‘Selling a property is very visual. The first thing people see are the images online. Attractive looking pictures of a property bring in a lot more buyers. It also means a shorter time on the market and increased buyer competition.’ Martine says.
Outdoor styling
There is very desirable swimming pool in the garden of this Engadine home but the kid’s cubby house was blocking the entrance to the pool. Martine suggested simply moving the cubby house so the pool area could be showcased when people came to the open house.
Keeping the grass cut and garden beds tidy is sometimes all it takes to make the outdoors look attractive. You might consider a modern outdoor setting so people coming for inspections and see how the space is used.
What is property styling
The object of styling your home to sell is to make the place as appealing as possible to a diverse group of buyers. People want to imagine themselves living in your home and how they would use each space.
A good source of inspiration are websites dedicated to home decorating that have thousands of images to give you an idea of how appealing a room can look with some styling. Property styling can be done on a budget or can be outsourced to a professional stylist.
Hiring a stylist
If you have a bit of extra money to spend on the sale of your home bringing in a professional can add significant value to the final sale price. Homeowners can be a bit biased about their taste so using someone with a fresh eye and knowledge of current trends can be a huge benefit.
Property owners can spend anywhere from $3000 to $10,000 on styling, in the hope of getting this back in spades.
Hiring furniture
As with this property in Engadine, Martine, the agent acting for the vendors engaged a company to hire furniture from. Generally they will come and take a look at the property suggest what they think would work best and once it is all agreed they arrange the delivery, putting the furniture in in place and then collecting it all when the marketing campaign is complete.
Why style your home for sale
Buyers looking through pages of real estate are more attracted to photos of beautifully styled rooms. You have an instant advantage over other properties that can look dated and
Experts estimate a well styled home can increase the sale value anywhere from five to 10 percent.
It is worth having a chat to one of the experts at KORE property to explain how the process of styling your property works. They can also discuss just how it can increase the value of home. Although there is initially a bit more to spend on styling a place, it is a case of ‘spend money to make money’
‘I would recommend to most homeowners to at least consider hiring in furniture to sell their home. Without doubt it increases the value of the property,’ said Martine.
