We were recently referred by a client of ours to help out their parents who were looking to sell their home in Scarborough that they have lived in for the past 42 years.
They had taken extremely good care of the property during their time in the home, always ensuring to keep the "bones" of the house (structural & internal components) in great shape while also keeping it clean & tidy.
No major cosmetic renovations were ever completed besides some work that was done when they first moved into the home so the property was in need of some updating, but overall it was completely move-in ready with lots of renovation potential.
Our clients were on somewhat of a tight timeline & didn't want to do any major renovations or staging efforts that would require them to remove their furniture.
They had already completed a lot of decluttering (as many people would have to after living in the same house for 40+ years) so they didn't want to have to worry about taking their furniture out & storing it as well.
Prior to us being able to do our virtual renovation/staging, there were several tasks that we & the sellers had to complete to get it in the best possible condition.
First step was to declutter & remove any unnecessary furniture.
We always say to our clients that you can choose to do as little or as much work in this regard as you feel comfortable with, but it's typically best to get rid of as much as possible to make the space feel more open.
The second step was to give the whole house a really good clean. This included renting a carpet cleaner for the basement & enlisting the help of a professional cleaning team to really give the place a solid scrub.
Lastly, we brought in some of our in-person staging items such as bed sheets, pillows, lamps & small decor.
One question that may be coming up in your head is "why wouldn't you just do a normal renovation to help increase the value?"
While it is true that home renovations can drastically increase the value of a property, there are numerous factors that work in favour of virtual renovations.
Speed
A typical home renovation can last anywhere from a couple of days to a couple of months depending on the scope & complexity of work being completed.
This also is subject to a lot of change (especially right now) as building materials & appliances are increasingly being delayed in their shipment.
With virtual renovations, we use the existing listing photos that we take for MLS & send them to a company for virtual staging/renovation who can typically have the job completed with 24-48 hours.
Convenience
Instead of having to remove all of their furniture & put it into storage to make way for staging items, we were able to keep all of the sellers existing pieces in place (with some minor adjustments).
This makes the process easier as a seller as it is one less thing to worry about & you can more comfortably live in your home while on the market.
Cost
Real renovations are expensive & labour/material costs keep rising.
To do a complete home renovation, you could be looking at anywhere from $50,000 - 200,000 depending on what work you complete.
Compare this to the nominal charge we pay for a virtual renovation & it's clear which is the more cost-conscious option.
Our philosophy was that someone was going to come in to this home & see the potential of what they could turn it into with their own renovation.
This is why we decluttered, accentuated the space & virtually staged/renovated the rooms that would be most impactful for a potential buyer (kitchen, living room & bedroom).
Ultimately this was better for the sellers as it required them to do less work, it was beneficial for the buyers as they could see what could be done with the space without having to pay extra for the renovation costs in the sale price & it was better for the environment as it reduced renovation waste.
END RESULT
- 80+ showings in one week
- Numerous offers
- Sale price substantially over asking
- Super happy clients
We see virtual staging & renovation as an extremely powerful tool in our listing toolbox as it just another way to help our clients get the best exposure for their home which ultimately translates into the best sale price possible.
What are your thoughts on virtual renovations/staging?
Let me know in the comments section below!
Rylie C.
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