With recent interest rate hikes and widespread reports of property prices stalling, property stylist Justine Wilson has shared her tips to increase the final price a property by as much as 20 per cent.
Although it’s an extra upfront expense, Justine notes styling and furnishings are a worthwhile investment in any market but an absolute must when that market starts to turn.
“It’s a natural instinct in all of us to cut back on spending when interest rates rise, especially when further rises are predicted,” Vault Interiors founder Justine says.
“I’ve been styling properties for sale for the past 17 years and from my experience, downturns 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 un-styled properties be passed in at auction, to then be styled and sell for more than 20 per cent over the reserve the second time around.”
Justine Wilson’s tips to increase the price of a property with furnishings
1. 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.
2. Remove distractions from the property
Personal items and bulky furniture can distract buyers from attending your open homes. Pet items, personal photographs or art, day-to-day items (keys, paperwork etc.) are all distracting items which can deter buyers.
3. 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.
4. Make use of dead space
Unused spaces in your home can be a great source of value add.
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.
5. 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.
