Want to hear a horror story with a surprisingly happy ending?
I once owned an investment condo which I had purchased at the height of the market. *cue the horror music*
Not only was that bad enough, but practically the entire building was owned by realtors/investors. So...when the market started tanking, there were suddenly about 30 other condos “just like mine” on the market.
If we were in a horror film, this was right about the time that Jason or Michael Myers shows himself and starts chasing after me!
Which is why I knew I had to do something different. I couldn’t be the cliche woman who trips, falls and loses out on her investment. My listing had to stand out.
Now, at this time, I had no idea what a stager was. I’m not even sure there were any. But, even as I continued to watch prices drop every day, I refused to put my investment on the market in its present condition.
Instead, I hit up a few key places that changed the game for me:
The paint store where I asked the gentleman what the most popular interior paint color was
Brandsmart where I bought the least expensive stainless steel kitchen appliance package they had
And finally, Home Depot where I picked out laminate flooring (to replace the carpet that was so worn out) as well as light fixtures and ceiling fans that matched to give that extra “oomph”
Over the next couple weeks, while my handy man was busy painting and installing my new purchases, I got to work too. I stripped my home of my personal pictures, mirrors, towels, and shower curtains, and then I went and purchased a few odds and ends at HomeGoods and Marshalls.
It took me only a few hours to decorate but my handyman was done in about two weeks. Once he gave me the official thumbs up, finally, I put my place on the market.
Oh and that happy ending I mentioned? After the tag-team “rookie” staging, I went under contract very quickly.
Best part? I took home a check for $48,000 at closing, while many of those other units had to be short-saled or went into foreclosure.
Ouch. Moral of the story: Staging. Sells.