'Rich Dad' discusses the importance of HOME STAGING

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It is always a shame when you leave profits on the table. This is particularly true in the area of real estate investing. Many entering into the real estate arena spend time learning strategies, putting together a Power Team, and acquiring marketing skills. Meanwhile, they relentlessly make offers until they find their deal. After they have acquired their property, and despite all of their hard work, few fully maximize their potential profits because they don’t take the time to properly present their property. Novice real estate investors should not feel alone, as many veterans make the same mistake, too.

The little extra touch that goes into the presentation of the property can dramatically alter its perceived value. When the presentation is properly executed, properties move faster, and sell and rent for more. This all leads to more profits for the investor. As a real estate investor, you have invested the time; now, just spend those few extra hours on the fine tuning that makes a big difference in your bottom line.

Many of the suggestions below require a bit of an artistic touch. This might not be your specialty, and may cause a level of anxiety. If you don’t feel you can refine these skills, then you may have someone in your life that can offer assistance. When there is money to be made, there is no shame in admitting that you don’t have a dormant interior designer inside you. If those around you are also lacking an artistic flair, there are several professional companies that can offer their services to help you present your property through staging your home and landscaping. Perhaps after utilizing these services, you can decide to continue to work with them, or you may have learned enough that you can duplicate their efforts in a reasonable manner.

Staging Your Home

When an individual walks into a home, a first impression is made. The nature of this impression is influenced by certain factors that you have no control of (number of bedrooms, bathrooms, etc.). There are things within your control, however, that can enhance your chances of creating that positive first impression in the potential buyer. Home staging is one area that increases the probability of creating a good first impression. Don’t spend countless dollars in attracting potential buyers to see your property just have their first impression be a bad one.

Home staging is a relatively simple process that involves decorating a home with temporary furnishings intended to create a more inviting home. It is likely that you have walked into a home that just had a certain ambiance to it. The home felt inviting, comfortable, and undoubtedly, you gave the homeowners credit for having a sense of style. This is the atmosphere you want to create for potential buyers when they walk into the home you have for sale. When done right, proper home staging can not only create a good first impression, it can create that wow factor that leads to quick closings.

If you have doubts to your creative ability to properly stage a home, there is no shame in hiring a staging professional. Not only do these individuals have the skill set to properly stage a home, they undoubtedly will have creative ideas that will lead you to purchase items that are inexpensive, yet create the desired feel. Many of these items will be able to be used repeatedly in your real estate investing career.

There is always the option to narrow down your home staging to a room or two. If you go this route, make sure one of the rooms you stage is the first room that potential buyers will see. Your second room might be a bedroom, particularly a child’s room that can be done inexpensively, creatively, and help potential buyers visualize their own children growing up in that room.

The bottom line is that staging a home gives you a tremendous advantage over an empty house. In time, it might become your favorite part of the selling process. If you don’t find enjoyment in staging, then the quick sale results you get will be well worth the effort.

Landscaping

While staging a home can help create that positive first impression once inside, it doesn’t hurt to grab buyer’s attention on the way up to the front door. When done in combination with proper home staging, landscaping can help create that one-two punch that makes potential buyers want to buy your property. The effectiveness of this approach will quickly make you become a true believer in home presentation.

Perhaps the single biggest reason most real estate investors don’t invest in landscaping is their fear that it will cost too much. While naturally, you don’t want an overly green thumb to drive your costs overboard, there are numerous things you can do to increase the appeal of the outside of the home without sinking your budget. Simple use of colors, patterns, and a good design can create this presentation without breaking the bank. The proper placement of plants, creating a clean feel to the yard, and a touch of creativity are all relatively inexpensive and go a long way to achieving your objective.

Your overriding goal with your landscaping project is to create a presentation that is appealing to potential buyers. Extravagant features are not needed in order to achieve this goal. You are not attempting to create an elaborate design that will win a contest. Clean and simple is best if you don’t have experience in landscaping. Drive up to the house, get out, and pay attention to what you see on your walk to the front door. What sticks out? What feel empty? What are your impressions?

Much like home staging, there is definitely an artistic element to landscaping. Your own creativity and taste can make a big difference in your landscaping efforts. If you don’t feel comfortable, and don’t have someone that is close to you willing to help, don’t be afraid to hire a landscaping company to create a design for you, or give you a quote that can help you achieve want you desire.

Both landscaping and home staging are avoided because many investors don’t want to put those extra dollars into home presentation. This is beneficial to every real estate investor that is willing to spend the little extra time and money, as their homes will stand out, and simply are more appealing to the average buyer.

Source: http://www.richdadeducationblog.com/2012/01/presenting_your_property_stagi.php#more

Seasonal Decor

Fall...Already? It's that time of year again! Longer nights and shorter days lend their way to old man winter. Pack away your purple plastic picnic plates (say that three times fast) and dig out the Snuggies.

As a huge advocate of "neutral basics", I welcome seasonal changes as an opportunity to shop for new colorful accessories to switch up the vibe in my house. And it's so cheap!

Here are a few tips to aid in the transformation:

- Swap your curtains for a new festive fall hue.
- Coordinate your look with some fresh toss pillows.
- Light a few spicy scented candles.
- Retire your summer bed linens and opt for a heavier quilt.
- Dress the table with seasonal foliage.
- Mix in some new area rugs.
- Welcome your guests with a fall door wreath.

And viola! Say to goodbye to summer. Hellllloooo Fall.

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More area rug advice...

In a previous post, I gave you my blessing to use area rugs on top of carpet. Today, I'm lending some general area rug advice.

Let's start with the one pictured here. It is absolutely my all-time favorite rug in life. Designed by Vivienne Westwood and sold by The Rug Company, this beauty is out-of-this-world...and out of my price range. Not to mention, SOLD OUT.

In fact, most of what you'll find in a retail store is inspired by pieces you'll find at The Rug Company (www.therugcompany.info). All designer and all handmade, you'll have a hard time covering these works of art with furniture. But you don't have to break the bank to stay ahead of the rug trend. Find replicas in your price range. They're everywhere.

I won't advise you on the style of rug to chose because that's a personal choice. I will, however, offer your you these few tips:

1) Choose the right size. 5x8 should suit your standard living room furniture arrangement. 8x10 should do it for your dining room.

2) Whatever the size, your furniture should be either all on or all off. (Your sofa best not be propped up on its two front legs.)

3) Like window treatments, rugs are items that you shouldn't cheap out on. This is especially important in high traffic areas.

4) If the rug is a focal point of the room, select one with an ornate pattern or print. Otherwise, opt for a simpler design.

That's all folks!

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Home Staging in Alexandria VA

 


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How to decorate a small space...

Location! Location! Location! This post is a shout out to all my city dwellers who'd rather rent/own a studio apartment in the city than a single family home in the 'burbs. I feel you.

1) When you're working with a small space, the key to good design is choosing furniture that is multifunctional. Coffee tables can double as seating. Dining surfaces can be supported by storage shelves. Sofas can be sleepers.

2) Don't forget to build UP, not just OUT. A floor-to-ceiling bookshelf can house your tchotchkes, baubles, and books. Not mention, it just looks awesome. Paint the backside (inside) of the unit a darker color to complement the recessed look.

3) Just because your space is small doesn't mean you need to decorate with doll-sized furniture. It's better to anchor your space with a few large pieces than lots of tiny little ones.

4) Maximize lighting of all kinds. It goes without saying that natural sunlight should gloriously shine through your place as much as possible. In addition to that you'll need to address the issue of ambient, accent, and task lighting. Get creative (and heavy-handed) in this department. It's makes a difference.

5) My last tip may seem counter-intuitive, but trust me... Dark colors are OK. [Say it with me] Dark colors are OK... when used in the right way. For instance, a dark accent wall can trick the eye in a long narrow room by making the wall appear to be farther away.

Follow these simple rules and you've got a great foundation for a small, yet snazzy pad.

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The truth about Makeover shows....

I love HGTV & DIY Network just as much as the next person. But be warned. Most of the time, while the programs may be entertaining and enlightening, it's not real life. Oftentimes the cost of labor is not included in the project budget. A team of people aren't going to come to your house and refinish your kitchen cabinets, build you a custom built-in bookshelf AND replace your leaky faucet for $999. The actual cost of the materials may be cheap, but the labor is not. In real life, it's cheaper for you to buy a new dining room table than it is for a carpenter to build you one (a good one, that is).

These shows are super fun to watch. Who doesn't love a good "before & after"? Just keep in mind... it takes longer than 30 minutes to landscape a backyard and it costs more than $500 to stage a house for sale.



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The red accent wall...

Anyone who knows me knows that I am NOT a fan of "the red accent wall". This is mostly due to the fact that it's been done (wrong) so much, that now it's just one big unoriginal joke to me. But, if you insist on taking on this project...here are a few tips to make it not suck (as much)...

- DON'T just paint that one wall and leave everything else untouched.
- DON'T choose a huge wall.
- DON'T be sloppy (crisp lines are essential to a good paint job).
- DON'T have that be the only red element in the room.

- DO choose a tone of red that makes sense for your room.
- DO hire a professional if you're unsure of any of the above.

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