You’ve done all the renovation work to make your fix and flip investment property ready for the market. But there is one more step left—staging your property for quick sale.
Is staging worth the time and the expense? Most certainly. With the house market slowing down over the past few months and more hikes in interest rates expected, staging may be just the thing to boost your prospects with a limited pool of prospective buyers. Doing a good job with staging will help them envision your property as their home.
You can stage your property effectively with these few simple tips.
Start With the Paint
Your first step in staging an investment property is to paint the rooms in on-trend colors. Neutral tones work great as a backdrop to furnishings and accessories. Gray is especially popular, but be cautious. Some grays tend to look blue, green, or even purple, depending upon the lighting conditions.
Buy sample containers of colors to test them on the walls before you commit. Once you identify colors that work best, you can use them again on future fix and flip projects.
Furniture is essential for staging your house flip, but you don’t have to spend a fortune. Instead buy furniture secondhand at local thrift shops, neighborhood garage sales, or from Craigslist. You don’t have to furnish every room, but stage the important ones like the living room, dining room, kitchen, and master bedroom. If you want to highlight the outdoor areas, purchase some economical patio or deck furniture as well.
The money is well spent if you can expedite a sale by a few weeks or longer. After the property is sold, you can always resell the furniture. Or if you have a regular succession of properties to flip, you can reuse the furniture repeatedly to get more staging bang for your buck.
Accessorize for Impact
Accessories provide the finishing touch to make your property more appealing. Add area rugs to hardwood floors, use accent pillows on the couch, and drape a cozy throw blanket across a chair. Use table lamps and floor lamps to add some ambient lighting,
Framed prints on the walls, centerpieces for the dining room and kitchen tables, potted plants on the floors, and flower arrangements on the tabletops can likewise add to the home-like atmosphere.
Make the kitchen look inviting by setting the table with placemats and stoneware dishes. In the bathroom, include fluffy towels on the towel rack, a bowl of scented soaps or potpourri on the vanity, and (if applicable) an attractive shower curtain.
Look for décor items at estate sales, resale shops, or antique shops. Don’t skimp on the accessories to save a few bucks. Set aside enough money in your fix and flip budget to make an impact. Staging has the potential to deliver a powerful ROI on every dollar you spend.