With wide-spread reports of property prices plummeting across the country, leading property stylist Justine Wilson shares her tips to increase the final price a property by as much as 20%. Although it’s an extra upfront expense, Justine has the proven results to show that the investment is worthwhile and a must in the current marketplace.
Justine Wilson says, “It’s a natural instinct in all of us to cut back on spending when interest rates rise, especially when further rises are predicted. I’ve been styling properties for sale for the past 17 years and from my experience, down turns in the market are the most beneficial time to invest in styling for sale. In the past few months, we have seen previously empty or unstyled properties be passed in at auction, to then be styled and sell for more than 20% over the reserve the second time round.”
Justine Wilson’s tips to increase the price of a property with furnishings:
- Create an aspirational living scenario: Stylish and well placed furniture will show your property off in its best light but most importantly it will create an aspirational living scenario for your buyers. That means that buyers can imagine themselves living in the space.
- Remove distractions from the property: Personal items and bulky furniture can distract buyers from attending your open homes. As we said earlier, to win over a buyer it is key to ensure that they can imagine how they or a potential tenant can live in the space. Pet items, personal photographs or art, day to day items (keys, paperwork etc.) are all distracting items which will deter buyers.
- Demonstrate space and function: Placing the right furniture in a property will showcase it in the best possible way. For example, you may have a bulky modular sofa which is cosy for those cold nights curling up on the couch, but to buyers may make your living room feel small and cramped. A two- or three-seater structured sofa instead could be a great solution to add visual square meters to your space and make the room appear bigger to buyers.
- Make use of dead space: Unused spaces in your home can be a great source of value add. The key is making the placement purposeful and to create usable spaces inside the property without reducing circulation space or interrupting the flow of the home. This is something that a professional property stylist will look for when they come to quote the property. Some great examples of these types of value-add spaces are ‘work from home’ /study nooks or reading corners which have been in high demand since the pandemic began.
- Create a standout online presence: When it comes to selling your property, marketing is one of the most important elements of your campaign, in particular your online photos will make all the difference to the number of buyers that come to your open homes. Furnishing your property with on trend, quality and attractive furniture will make your photos pop and your listing look more attractive, especially in a market where there are higher levels of stock to compete with and more choice for buyers.