Selling a home in Melbourne can be competitive and nerve-wracking, but there is one way to give you that edge home staging. Though widely viewed as an investment, many are unsure about what the actual cost to stage a home might be or even which variables will play into the bill.
This article breaks down what staging homes in Melbourne may cost you, how this differs from house staging, and what to expect when making that decision on whether to stage your home or not.
What Factors Influence the Cost of Home Staging in Melbourne?
Home staging costs vary based on several factors, some of which may include the size of your home or the scope of staging. Below are some of the major elements that can affect the cost of staging a home in Melbourne.
| Home Size | Size Matters: Smaller homes (1-2 bedrooms) are cheaper to stage than larger ones. Less Furniture: Staging a compact space requires fewer furniture pieces and decor, reducing costs. |
| Furniture and Decor Selection | Furniture Choice: The cost depends on the type of furniture used. High-end furniture makes staging more expensive.Budget-friendly furniture keeps costs lower. |
| Service Level | Service Levels: Staging services range from basic furniture rental to full design and styling. Comprehensive Packages: Full-service staging with designers, custom furniture, and styling costs more. |
| Location and Market Conditions | Location Matters: Staging costs are higher in popular areas like Melbourne CBD and wealthy suburbs. Competitive Markets: In high-demand areas, staging is more expensive due to increased competition. Less Competitive Areas: Staging costs are lower in quieter or less popular suburbs. |
Home Staging Cost in Melbourne – A Breakdown
Home staging for homes can cost anywhere from $1,500 to $4,500, depending on the abovementioned factors. Let’s break it down further:
Typical Home Staging Costs in Melbourne
The cost of home staging for 2 bedrooms typically ranges from $2500 to $5500, depending on several factors.
The cost of home staging for a 3-bedroom home varies from $3500 to $7500, depending on several factors.
Additional Costs to Consider
Styling and Decoration
- Some staging companies have styling in their package, and others charge for these separately.
Photography
- Professional photography at high resolution is usually in a package deal, but can add another $200-$500 to the deal if not.
Insurance
- Some staging companies may charge extra to put an insurance on the furniture placed in your home during this time.
How Apartment Home Staging Differs from House Staging
Although home staging principles remain the same, apartment staging differs from house staging. The differences between staging an apartment and a house affect the cost and the approach that the professional should use.
Space Constraints in Apartments
- Apartments, especially the smaller ones, are a bit challenging. Since there is less space to work with, staging for apartments requires more thoughtful and strategic use of furniture and décor. Staging a small living room in an apartment requires pieces that don’t overpower the space but still create a welcoming and functional atmosphere.
- In contrast, houses tend to have more room for larger furniture, allowing for a wider range of design options. This can make house staging more expensive as larger pieces of furniture and décor items are often necessary.
Focus on Maximizing Space
- Among the most popular goals of an apartment is staging to present maximum space sense. In places like Melbourne, where cities have apartments with smaller area spaces and located in highly competitive markets, the apartment staging shall give an impression of something much bigger than its size. Without significant cost implications, various means of utilizing mirrors, using multi-functional furniture, and bright colors are ways that can render the appearance of more available space in the apartment without spending a fortune.
Target Audience
- The nature of the apartment buyers may determine how staging is done. For instance, apartments in the Melbourne CBD are likely to attract young professionals, which means that staging needs to be done in a modern minimalist way. Apartments in family-oriented suburbs will call for a different styling approach, one that is comfortable and family-friendly.
Home Staging Costs vs. Potential Benefits Is It Worth It?
Investing in home staging for your home in Melbourne can be a significant expense, but it often results in a higher sale price and a quicker sale. Here’s why:
Quicker Sales
- Staged homes tend to sell faster than unstaged ones. According to the Real Estate Institute of Victoria (REIV), staged homes in Melbourne have been proven to sell up to 30% faster than unstaged properties.
Higher Sale Price
- A National Association of Realtors report showed that staged houses could sell for 10 percent more than unstaged ones. For instance, in a case where your home was valued at $500,000, staging may increase its price to sell at $50,000 or more.
Statistics in Real Estate:
- 75% of the buyers claim they would like to make an offer for a professionally staged home.
- 50% of buyers said that staging helps them to imagine themselves living in the space.
These statistics indicate that staging might be a significant upfront cost, but it will return many times in the investment.
How to Stage Your Home in Melbourne for Less?
If you have a little budget, there are ways for you to keep home staging prices manageable while still getting nice results:
DIY vs. Hiring a Professional for Home Staging
Cost-Effective: DIY staging is usually cheaper because you are not paying for professional design services or expensive furniture rentals. You can use your own furniture or purchase budget-friendly décor to freshen up the space.
DIY Home Staging:
Personal Control
- With DIY staging, you have full control over how your home is presented. You can choose the style and colors that reflect your personal taste, and you can make adjustments as needed.
Cost-Effective
- DIY staging is often the more affordable option because you’re not paying for professional design services or expensive furniture rentals. You can use your own furniture or purchase budget-friendly décor to freshen up the space.
Time-Consuming
- Staging your home yourself takes a lot of time. It requires you to pick the right furniture, to arrange everything properly, and to make sure that the space is inviting to potential buyers. You might also have to rent or buy furniture, which may take time to find.
Limited Experience
- You might have a keen sense of design, but the skills necessary to appeal to potential buyers are professional in nature. A completely untrained DIYer can’t complete a job quite as precisely or attractively as a professional can.
Hiring a Professional Home Staging Company
Expertise and Experience: Professional stagers are trained interior designers and know what works best for attracting buyers to their home. They understand how to highlight the best features that will appeal to a variety of buyers.
Quicker Results
- A professional staging company can stage a place quickly because they have resources, furniture, and knowledge to get the job done quickly. That way, your home will be on the market sooner.
More expensive
- Hiring an experienced staging service is considered expensive, especially if you request a full-service package that includes rented furniture, décor, and design. Still, the difference may be worth it at a higher upfront cost if it results in a faster sale and at a higher sale price.
Increased Appeal
- Professionally staged homes tend to sell faster and at a higher price because they look more polished and well-maintained. Professional stagers know exactly how to make the best of your home’s layout, lighting, and furniture to create an inviting environment for buyers.
Which Option is Best for You?
- Go DIY if you’re on a tight budget, have some design sense, and are willing to invest the time to arrange furniture and décor effectively.
- Hire a Professional if you want the best chance of maximizing your home’s sale potential and are willing to invest in professional services for a faster and potentially higher return on investment.
Ultimately, the decision of doing it yourself or hiring the professional is based on one’s goals, the state of your home, and even the real estate market. It’s worth it to save some money and spend some more time in staging if your objective is to sell cheap and fast. If your objectives are quick sale with much higher offers, then the above may be a great decision for you.
How do you hire a property stylist or home staging expert?
Percentage Chance of Selling Your Home Faster in Melbourne with Staging
up to 30% chance of sales faster than unstaged ones. This is because staging helps potential buyers better envision themselves in the space, making the home more appealing.
How much percentage is there a chance to increase the house price after stagging?
5 to 10% chance of increasing house value after staging.