six spec homes over 14 months. stage all of them or just two?
Builder client, six detached spec homes, 1,850 to 2,400 sf, delivering in three pairs roughly five months apart. Target list is 420k to 465k. I underwrite the sales side and staging is currently sitting in my model as a single line I made up, which is why I'm posting.
Quotes in hand:
Full stage, whole house, 4,200 per home for the first 30 days, 900 per month after, install and de-install included in the first number. Partial stage (living, primary, one bath, plus a kitchen vignette) is 2,400 first month, 650 after. Virtual staging on photos is 45 a room from the photographer, so call it 400 a house.
Carry on each finished home is about 2,050 a month all in, taxes and insurance and interest on the construction line converted to a mini-perm. So one extra month of market time costs more than a month of full staging on two houses.
Where I'm unsure. My comp pull for this submarket has 23 new-construction closings in the last 18 months and I can only confidently tag 9 as staged from the photos. Staged median was 41 days, unstaged 68, but 9 is a joke of a sample and three of the unstaged ones were priced high out of the gate. I don't want to build a pro forma on that gap and then defend it to the builder.
The actual decision this week: do we stage all six on rolling inventory, or stage the first of each pair fully and use it as the model while the twin sells off the same photos and a walkthrough? The stager will hold inventory for the 14 months only if we commit to at least four houses.
What would you push on.