Selling your home? 3 reasons staging is a necessary expense

While the housing market seems to be creeping back ever so slowly, if you're a homeowner looking to get top dollar for your property, then you may be missing out on the many benefits of staging your home.

But the thought of putting more money into staging a home is often a daunting one since money can be tight when deciding to sell your home. After all, there are the requisite repairs that the home inspection may pull up and funds may be tied up in that area. And then there's painting the walls to cover up the years of wear and tear -- and we always want to avoid that "lived in" feelings some homes have.

Totally understandable, but staging your home is important because it sets your home apart from those that are not staged. Here's why:

Buyers want to imagine their lives in your home

They can't do this if you have your personal effects littered all over the house. Who wants to see your wedding pictures on the shelves? Not the buyers walking through your home. Think of the last time you stayed in a nice hotel, would you have appreciated seeing the last guest's personal items there? No? Good, then keep them out of sight for your potential buyers.

Staging gives the buyer a new perspective

When your home is properly staged -- think, like a model home in a new development -- buyers are able to see your home from a perspective that doesn't involve you, the owner. Chances are, when your home is staged it will be done in a way that looks very different from how it looks while you lived in it. This gives the buyer a different perspective not tied to the owner's current layout, and the possibilities are endless!

Less time on the market and higher sales price

This is perhaps the best benefit of staging. Sellers find that their homes spend less time on the market, and they are often able to net a higher sales price because buyers love the decor and become eager to get settled in.

In 2006, StagedHomes.com looked at the sales history of 200 properties staged by its members. Homes listed for sale prior to staging sat on the market for an average of four and a half months and sold within just over a week afterward. Homes listed for sale after staging sold within 32 to 42 days. In either case, the homes sold for an average of $26,000 more than expected. (from a recent article at kiplinger.com)

As you can see, it pays to stage your home and spend less time on the market coupled with a net higher sales price.

What do you think about the benefits of staging your home? Worth it or a waste of money?