In the last year, 52% of sellers and 39% of home buyers were baby boomers. They are on the move more than any other generation. What are they going toward? Retirement communities, independent living, and the top reason cited is to be near family, with a marked increase since COVID.
Politics may play a factor, as they move from one state to the next per the New York Post. Movebudda.com says that for every fifty-one people moving into the State of California, 100 are moving out. This is the highest state migration in the entire country. Even though many moved their children to states that had open schools during Covid, this migration out of state has been going on since 2010.
A recent study cited that 47% of Californians are “thinking” about moving out of California.
According to Forbes, twenty-six million Americans over the age of 50 live alone. Many of them still live in their large family homes for many years, leaving single family homes in short supply in many communities. So younger generations looking for housing are relegated to condominiums, and townhomes.
Migration, supply, rising rents, and the dream of homeownership are still the forces driving the real estate markets.
How does this relate to staging your home for sale? Well, as you know, I am a huge proponent of home staging, which became prominent in the 1970s. Can it be effective? Yes.
Study after study has shown that the cost of staging is far outweighed by the benefits of a faster sale and a greater average price for the home.
The home stager of today is a sophisticated and evolved practitioner compared to the humble beginnings in the 1970s when moving the cat box out of the house was a start to the preparation for a home sale.
Below see the before and after of vacant rooms versus staged rooms. Could I show you the hoarder house or teenager room prior to staging? Sure. But the empty room versus the staged room is just as dramatic to buyers walking through a home. Most folks are not adept in visualization. Staging offers a vision to space to help buyers imagine living there. Small changes can make big differences in your bottom line when selling and create excitement about a new home when buying.
Below are actual before and after of empty rooms to staged rooms in recent projects. Would you pay more for a clean, polished, good smelling automobile, bike, or home? You might, as you know there are no lurking issues.
Typically, professionals that stage also understand the value of prepping the home with a home inspection, pest inspection and addressing the things that will ease the mind of a buyer. Overall, most staged homes are move-in ready. And if not, their flaws are evident for buyer consideration. Full disclosure and fairness to buyers is key. Give them the information and they can make an informed decision.
Staging is good for everyone: the buyer, seller, and the home. In this recycling society, repurposing a home is the ultimate accomplishment.
