A Case Study for the Power of Staging and Redesign (or what happens when you don’t)
A casual friend was selling her home in Arrowsic, Maine. The 3 bd., 5 ba – 3465 sq.ft. home had been on the market for almost a year with a couple price reductions. After reviewing her online images, I suggested I stage it for her to improve her chances of making the sale. With an investment of 1 – 3% of the home value, I could help her avoid additional price reductions. Instead her agent spent good money on a photographer to take the images and reduced the price from $475,000 to $425,000. The house finally sold for $417,000 a drop of 12%, which was well below the original purchase price and 4x what I would have needed to stage the space properly. The house at one time had been valued at nearly $750,000.
But that wasn’t the end of the story. I had another opportunity with this property. One month after the sale, the new owners, a professional couple new to the area, contacted me through my website. The wife, a physician’s assistant was having difficulty figuring out how to make the open floor plan work with her furnishings. She was having major doubts about the purchase and wondered if I could help her make it work. Her husband realized that if I was successful, I would be cheaper than relisting the property. Ultimately he said that my work with them not only improved the feel of the house, but also saved their marriage.
The redesign included new flooring, painting the entire first floor, bathroom fixtures for the powder room, new lighting, artwork, custom made furniture and accessories for the entry, living room, dining room and breakfast nook. My design services included sourcing all these, color and art consultation, my original artworks, framing and custom blinds.
Their home is now valued on Zillow at $809,000 (not always the most reliable source for home values, but some reference). While some of that is the strengthening of the market, they are also reaping the benefits of an upgraded space. Not that they intend to sell anytime soon. They both have fallen in love with their home which so clearly reflects who they are. So much so, that while the wife left her job in nearby Bath, Maine for a position more than an hour away, she is ready to commute rather than sell, to stay in their home.
You can read her testimonial here.
Here are the before & after shots so you can see the difference.