SoFi

The average cost of finishing a basement in 2023 is $22,850, but there is a huge variation in pricing depending on your specific project. Of course, the square footage makes a difference, as does the particular configuration of your basement, as well as whether you are simply finishing the space for storage purposes or adding an extra bedroom and bathroom as living space.

Whatever your goal, you will most likely increase the resale value of your home while adding to your usable space. The following guide will help you understand the considerations, the cost, and how to get the work done.

The Costs of Finishing a Basement

The cost of finishing a basement has a lot of variables, as most home upgrades do. Weighing what you can afford versus what you want is critical here. While it might be nice to have all the bells and whistles of a sky-is-the-limit home renovation, there are many things that will affect the bottom line during a reconstruction event like finishing a basement.

The national average cost of finishing a basement is $22,850, but there’s a wide range (as there is with the cost of home remodeling projects of all kinds). In this case, it can swing from $4,700 to $41,000. Your number could rise based on where you live and whether you plan to add features such as running water, custom cabinets, or countertops.

Ultimately, the final cost to finish a basement depends on how extensive the work is, as well as the square footage in the planned remodel. Typically, a small basement is considered to be a 300- to 700-square-foot space. Do you have more than 2,000 square feet to finish? Then that’s an oversized amount of space.

According to the home improvement site Angi, a simple process of finishing a basement will cost between $7 and $23 per square foot. However, if you are doing a full remodel, you can expect to spend $30 to $75 per square foot.

You can also use online tools to help you estimate the cost of your remodeling project.


💡 Quick Tip: Before choosing a personal loan, ask about the lender’s fees: origination, prepayment, late fees, etc. One question can save you many dollars.

How to Plan Your Basement Project

The first thing you need to think about when finishing a basement is how you primarily plan to use the space. If it’s mostly for storage, you’ll want to include closets, cabinetry, and a shelving system in your plans.

Or do you intend to use it as a bonus room or lounge? If your basement’s primary function is as a gathering space, you’ll want to wire it so that you have internet, cable, and plenty of lighting and outlets.

Due to their subterranean nature, basements also require waterproofing. The below-grade format of a basement demands special attention be paid to exterior drainage, interior surface materials, and air ventilation, in addition to ensuring a safe way to exit the space during an emergency, like an egress window.

With proper planning, it’s possible to mitigate some of the major expenses associated with building below ground, so do your homework before the rainy season comes. Local government code departments often have building standards to guide the process.

As part of your efforts to keep the finished basement dry, you’ll probably want to install a sump pump for extreme weather events. Built into the floor with an automatic pump, sump pumps give peace of mind for when you’re out of town or have an excess of rainfall.

If you’re finishing a basement to use as an apartment or in-law suite, you’ll need added features like a bathroom and kitchenette. Installing both a bathroom and kitchenette can quickly cause the price to mount with the added costs of cabinets, countertops, appliances, and fixtures, so weigh the decision to add those features carefully against how much use you think they will truly get. Or consider going the budget route, forgoing top-of-the-line furnishings and appliances, if cost is a concern but you need those spaces to complete your basement.

Recommended: 10-Step Guide to Building Your Own Home

Budget

How much it costs to finish your basement will ultimately come down to the features you add and how the work is done. Consider these factors when making a budget:

•   Labor. This may cost $25 to $100 per hour, and you might also need a plumber or electrician to do some specialized work, which could increase the price (as anyone who’s rewired or needed to pay to fix a plumbing leak knows). Typically, labor costs will be 25% of the total project cost.

•   Permits. According to Angi, getting the proper permits for your project can run between $1,200 and $2,000.

•   Materials. The cost of materials, such as flooring, insulation, and drywall, will make up the bulk of your project budget. Expect to pay anywhere from $5.25 to $21 per square foot depending on the specifics of your remodeling.

Other areas where your basement costs may add up include if you opt for high-end materials, if you hire a professional for interior design assistance with the layout or furnishing plans or if you add furniture to the space.


💡 Quick Tip: With home renovations, surprises are inevitable. Look for a home improvement loan with no fees required — and no surprises.

How to Save Money on Basement Remodeling

There are many ways to save money on basement remodeling, the first being doing the labor yourself. If you’re simply going for a basic basement remodel for storage, this is a project you likely can DIY even without a lot of prior home renovation experience.

You might, for example, want to add corner shelves, install a pegboard system for mounting your tools, or build a wire rack system to store your bulky items — all basement finishing tasks you can tackle yourself without hiring outside labor.

If finishing your basement requires extensive electrical work and/or plumbing, however, you’ll likely want to call in a licensed professional to do that work.

If you’re on a tight budget, you might rethink installing a kitchenette or a bathroom, which are where your basement refinishing costs often add up quickly. A budget-friendly option for cabinetry could be purchasing from a resale shop or using old cabinets from another part of your house that you can refresh with an inexpensive coat of paint.

Recommended: The Top Home Improvements to Increase Your Home’s Value

The Takeaway

A basement remodel could serve multiple purposes — adding living space or storage to your home — while simultaneously improving your quality of life and the resale value of your home. There are a lot of considerations to take into account, including keeping an inherently moist environment dry and comfortable, and additional safety measures that you’ll need to factor into the overall budget. With the average basement finishing project costing almost $23,000, you may also need to consider financing options, such as a personal loan to use for home improvement.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

Photo credit: iStock/PC Photography

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Credit card debt is a national issue in the United States. In fact, according to the Federal Reserve Bank Of New York, Americans’ total credit card balance was $986 billion in the first quarter of 2023 — $145 billion higher than it was in the first quarter of 2022.

If you’re one of the many people struggling with credit card debt, you know that getting out from under it isn’t easy. The good news, however, is that you do have options. What follows are some smart, simple credit card debt elimination plans that can help you make a dent in your debt — without giving up everything in your life that brings you joy.

How Do You Determine Debt Level?

First things first: In order to pay off debt, it can be helpful to know actual numbers. One way to help get concrete numbers is to gather monthly credit card statements and start to add up total debts. While sitting down and adding up those numbers might seem scary, getting all the information can be a great first step to tackling credit card debt once and for all.

When adding up the amount of debt owed, it might also be helpful to take interest into account — thanks to high interest rates, some debts may actually now be higher than the initial amount owed, even after making payments. A credit card interest calculator can help determine the cost of debt once interest is factored in.

Accounting for Living Expenses

We all know that credit card payments aren’t the only expense in life, which means part of tackling credit card debt may require assessing the other expenses life brings.

To understand exactly where your money is going each month, you may want to take stock of your current income and expenses. This simply involves going through your last three or so months of bank and credit card statements, adding up what is coming in each month on average (income) as well as what is going out each month on average.

You may also want to break down your spending into categories, then divide those categories into two buckets — essential expenses and nonessential expenses. To free up funds for debt repayment, you may need to cut back on some nonessential spending, such as dining out, streaming services, and clothing.

Recommended: Budgeting for Basic Living Expenses

Creating a Budget

After taking stock of financials like your monthly expenses, hunkering down and making a budget is the next logical step. Making a budget doesn’t have to be highly restrictive or complicated. The idea behind budgeting is simply that, rather than spend money willy nilly as expenses come up, you make sure your spending actually lines up with your priorities.

There are many different types of budgets but one simple approach you might consider is the 50-30-20 rule, which recommends putting 50% of your money toward needs (including minimum debt payments), 30% toward wants, and 20% toward savings and paying more than the minimum on debt payments.

Establishing a Plan To Tackle Debt

Once you have an idea of how much you can spend beyond the minimum on credit card repayment, you’ll want to come up with a strategy to pay off your debt. There is no one-size-fits-all plan for credit card debt elimination, so it is important to consider what type of payoff plan will work best for your specific circumstances.

One popular debt elimination plan is called the snowball method. It’s called this because much like building a snowball, you start with your smallest debt, and then roll on to the next highest debt, and so on.

So for example, if a borrower has three separate credit cards with balances of $1,000, $5,000, and $10,000, the snowball method would call for paying off the card with the $1,000 balance first by putting extra money towards that debt while paying on only the minimum balance on the cards with $5,000 and $10,000 balances.

Once the $1,000 debt is paid off, the borrower would then use the newly freed up money from the $1,000 debt payment to start making higher payments on the $5,000 debt and so on. This method is popular because paying off a small debt can help you gather momentum to keep paying off larger debts.

Another popular pay-off plan is the avalanche method. This involves paying off the balance of the credit card with the higher interest rate first. In this scenario, a borrower who has three separate credit cards with interest rates of 17%, 20%, and 22% would focus on paying down the credit card with the 22% interest rate first.

Why focus on the credit card with the highest interest rate? Cards with higher interest rates generally cost you the most over time. Thus, paying off the card with the highest interest rate first could help you save money instead of allowing it to accrue more interest while you pay off other credit cards.

Considering Consolidation

If the snowball or avalanche method doesn’t seem right for you, you may want to consider credit card consolidation. Consolidating your credit card debt involves either transferring your debt to a new credit card with, ideally, a lower interest rate, or taking out a personal loan, ideally with a lower interest rate, to pay off existing credit card debt.

Why replace one type of debt with another type of debt? Some borrowers may qualify for a lower interest rate on a personal loan than the rate they are paying on their credit card debt, which can help you save money. Consolidation also simplifies the debt repayment process. Instead of paying multiple credit card bills each month, you only have to make one payment — on the personal loan.

A personal loan also typically comes with a fixed interest rate and established repayment term. This means that the interest rate agreed to at the start of the loan stays the same throughout the length of the loan.

And unlike the revolving debt of credit cards, personal loans are known as installment loans because you pay them back in equal installments over a predetermined loan term. This means that you won’t accrue interest for an indeterminate time, as is possible with a credit card.

The Takeaway

Having a credit card elimination plan in place is key to getting rid of high-interest debt. To get started, you’ll want to assess where you currently stand, find ways to free up funds to put towards debt repayment, and choose a debt payoff method, such as the avalanche or snowball approach.

Another option is to get a debt consolidation loan. This can help simplify repayment and also help you save money on interest. If you’re curious about your options, SoFi could help. With a lower fixed interest rate on loan amounts from $5K to $100K, a SoFi debt consolidation loan could substantially lower how much you pay each month. Checking your rate won’t affect your credit score, and it takes just one minute.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SOPL20006

Homeowners sometimes may not realize it’s time to replace their heating, ventilation, and air conditioning (HVAC) system until there’s a major issue.

And the condition of the overall system, along with other factors like home size, type of unit, and local climate might impact HVAC replacement cost.

HVAC system cost varies year by year and per individual situation. Understanding cost considerations for different HVAC equipment, types of systems, and everything replacement entails can help you budget and plan for paying for emergency home repairs.

HVAC System Parts

There are several ways to heat and cool a home that falls under the HVAC umbrella. Yet, most HVAC system parts and components can be grouped into the following categories.

Thermostat

Thermostats monitor temperature and can be used to adjust whether a HVAC system heats or cools a building. Generally, the temperature can be set manually or preset to regulate heating and cooling to a desired indoor temperature.

These systems can be connected to the HVAC system through wiring — or Wi-Fi in the case of smart thermostats. More advanced thermostats can be used to enhance comfort and efficiency by controlling temperature settings for multiple zones throughout a home or building.

Recommended: How to Lower Energy Bills When Working From Home

Heating and Cooling Unit

The heating and cooling unit is the main component of any HVAC system. Common types include furnaces, boilers, heat pumps, and air conditioners.

Furnaces are generally located inside a structure and comprise a heating element powered by gas, oil, or electricity and a blower to circulate heated air through the building.

Boilers are traditionally interior units, too, but circulate hot water or steam to radiators or baseboards located throughout the property.

Air conditioners include condenser units, which are located outside because they produce hot air through the heat transfer process.

Heat pumps also consist of an external condenser, but a key difference is that they can be used to either heat or cool a home. These systems work in conjunction with an indoor blower unit to distribute heated or cooled air.

Filtration

HVAC systems incorporate air filters to remove dust, allergens, and other particles from entering the return-air duct. Usually, air is drawn from multiple locations inside a building to the HVAC system.

Whether filters are the reusable or disposable variety, periodic cleaning or replacement is necessary to maintain optimal performance.

Ultraviolet lights are another option for treating air quality in an HVAC system. Their ability to disinfect the air of mold and pathogens makes them helpful for some homeowners with severe allergies.

Delivery System

Most buildings and homes consist of multiple rooms and may include more than one floor. Distributing heated and cooled air throughout the space requires a system of ductwork and vents.

Many HVAC systems utilize separate supply and return ducts to circulate, filter, and treat air continuously. Supply ducts bring air from the heating and cooling unit to blowers and vents to heat or cool an area.

Meanwhile, return ducts transport untreated air back to the HVAC system.

Exhaust Outlet

Any HVAC system that involves combustion — burning oil, gas, or wood — will need an exhaust outlet to expel harmful fumes out of the building. An exhaust outlet can be its own vent or be connected to an existing chimney.


💡 Quick Tip: Some lenders can release funds as quickly as the same day your loan is approved. SoFi personal loans offer same-day funding for qualified borrowers.

HVAC System Cost Estimates

The type of unit chosen for replacement is a key determinant of cost. Prices may fluctuate whether a full or partial replacement is needed and based on technological advances in HVAC efficiency.

Cost estimates below account for the HVAC unit, any system parts, installation, and removal of old equipment.

Recommended: What are the Most Common Home Repair Costs?

Boilers

Boilers have been used to heat buildings for more than a century and are found in homes and commercial buildings alike. The average replacement cost can range between $4,000 and $10,000 depending on the type of boiler. The average cost to replace a boiler is $7,938, according to Consumer Reports.

HVAC replacement cost for boilers can be higher if fuel tanks, piping, and gas hookup need to be repaired or installed.

Heat Pumps

Despite their name, heat pumps actually can be used to both heat and cool a building. These electric HVAC systems pull heat from outdoor air to heat a building even during cold weather conditions.

When it’s warm out, heat pumps cool buildings by drawing heat from indoor air and expelling it outside.
Depending on the type of heat pump and size of the system (measured in tons), costs average between $4,900 and $12,500.

Air-source heat pumps typically run on the cheaper end of the heat pump spectrum, whereas ground source heat pumps (often called geothermal heat pumps) can cost between $6,000 and $20,000.

Although the upfront cost is significant, lower utility bills and 50-year equipment lifespan could see a return on investment in the long-run.

Central Air Conditioners

Central air conditioners work by drawing moisture from the air inside a building and returning cooled air throughout the structure via ductwork. The system usually consists of one unit located outside but near the structure.

The average cost for installing central air is between $3,800 and $7,900. Prices may be lower for 2-ton or smaller systems, while costs can creep higher if a building requires a 5-ton unit.

Besides the unit itself, the total footage of ductwork to be installed or replaced is a significant cost consideration.

Furnaces

The cost to buy and install a furnace can vary by energy type, total ductwork needed, and the model. On average, prices for replacing a furnace range from $2,800 to $6,800.

Furnaces that run on natural gas or electricity tend to be cheaper to replace than oil-fueled systems.

The total area that will be heated and how well a building is insulated are other factors that will affect the size of the system and potentially increase the cost.


💡 Quick Tip: Home improvement loans typically offer lower interest rates than credit cards. Consider a loan to fund your next renovation.

Other HVAC Replacement Cost Factors

When evaluating HVAC options, the type of system is only part of the equation for determining the final price tag. There are many other factors that can affect how much an HVAC replacement will cost.

Local Climate

The popular real estate mantra, “location, location, location”, rings true for HVAC systems, too. Whether you live in a cold, warm, or temperate climate will have implications for how an HVAC system is designed.

Property owners in warmer climates could face higher prices for replacing air conditioning units since greater capacity is needed. Meanwhile, costs for furnaces can be higher in more frigid regions where heating efficiency is more important.

Building Characteristics

The size, layout, and condition of a building can play a role in HVAC replacement cost.

Excluding geographic influences, larger structures generally require a more substantial HVAC system to match. The total square footage can impact the price for filtration, ductwork, vents, and zones throughout a building.

A home’s design could also affect how much you’ll pay for HVAC installation. More difficult jobs can add additional labor hours and drive up the cost.

Some possible complications to consider are the ease of accessing components ductwork and whether building renovations will be needed to accommodate new HVAC equipment.

Unit Efficiency

The operational efficiency of a new system is another factor of HVAC replacement cost. Although more efficient units are generally more expensive upfront, they can recoup long-term savings through lower energy bills.

While browsing models, keep an eye out for an ENERGY STAR® label to identify the highest-performing HVAC systems. To become certified, this equipment has been vetted by the Environmental Protection Agency and Department of Energy.

For instance, air conditioner models that achieve efficiency scores in the top 25 percent among competitors are eligible for ENERGY STAR® certification.

Paying for HVAC Replacement

The upfront cost of paying for HVAC replacement can be steep. If covering expenses with cash and savings alone isn’t feasible, there may be other ways to pay for these home improvements.

The HVAC unit cost for more environmentally friendly technologies, such as ground source and air source heat pumps, may be eligible for rebates and tax incentives.

Recommended: Home Improvement Cost Calculator

The Takeaway

Even before major components or an entire system needs to be replaced, poor efficiency might increase utility bills. Staying on top of maintenance and knowing the heating and cooling unit’s estimated lifespan could help save money and keep a system running smoothly.

If replacement is necessary for your HVAC system, you may still have a sizable sum to pay after claiming tax credits or manufacturers’ rebates you might qualify for.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

Photo credit: iStock/South_agency

SOPL20051

The latest figures put the average honeymoon cost at around $4,800, Brides.com reports, adding that the average honeymoon lasts eight days.

There are plenty of ways to save on or save for a honeymoon, though.

Here’s what you need to know about the average honeymoon cost and paying for a trip you’ll never forget.

The Honeymoon Tab

The Knot, a wedding-planning platform, cited a pre-pandemic average honeymoon cost of $5,000, based on an internal study of more than 27,000 couples who married in 2019. That is atop the average cost of a wedding, which The Knot put at nearly $30,000.

The average cost of a honeymoon has increased in the past few years, reflecting couples’ desire for more experiential travel, The Knot says, with more than 60% of American couples traveling outside the continental U.S. for their honeymoon.

Of course, the honeymoon outlay could be much higher if a couple goes on a luxury getaway or takes an extended trip.


💡 Quick Tip: Need help covering the cost of a wedding, honeymoon, or new baby? A SoFi personal loan can help you fund major life events — without the high interest rates of credit cards.

Big-Ticket Honeymoon Items

The cost of a honeymoon can depend on location, amenities, and even the season couples decide to travel. Typically the cost will include:

• Plane, train, or automobile travel

• Accommodations

• Any excursions

• Food and beverages

• Taxes, tips, and fees

Essentially, it’s the same as any other big trip. The only extras may come because you want to make this trip the best it can be (and we don’t blame you).

Ways to Cut Honeymoon Expenses

There are still plenty of ways to save money on a honeymoon. As mentioned, location can play a major factor in the cost of the trip, but there is a secret a lot of travel insiders know and don’t share: Shoulder season.

Shoulder season is that awkward time between the high and low seasons of different destinations. It’s not necessarily that a place is less desirable to visit, but merely a less popular time to go.

The shoulder season in the Caribbean is the early fall (in the Northern Hemisphere, September to November), which is the midst of hurricane season, meaning fewer people tend to book during this time. Honeymooners could score great deals on flights and accommodations, and find more restaurant and excursion reservations available.

Hawaii, a perennial honeymoon destination favorite, has shoulder seasons of April through June, after all the school breaks end, and September to December, right before the holiday travel rush.

Check to see when your desired location’s shoulder season may fall, and if you wish, book in this window for the chance to save a little money.

Two other ideas:

Forage for great fares. Another way to cut back on typical honeymoon expenses is to hunt for the best flights possible if you’re traveling by air. This can be done by signing up for newsletter or alert services like Next Vacay, which sends daily emails with cheap flight deals, or similar services like Scott’s Cheap Flights and Skyscanner.

Use points or miles. One more way to lessen the financial strain of a honeymoon is to dig into credit card rewards such as points or miles. Check to see if your points can be used on flights, accommodations, or activities, and use them as you please. Don’t forget to check on any of those frequent flyer miles you’ve got hanging around either.


💡 Quick Tip: Choosing a personal loan with a fixed interest rate makes payments easy to track and gives you a target payoff date to work toward.

Paying for a Honeymoon

There are a number of ways couples can finance their honeymoon. Here are a few.

Join a honeymoon registry. The first, and perhaps most festive for a wedding, is to ask your friends and family to get involved with a honeymoon registry.

A honeymoon registry is a new twist on the wedding registry tradition. Rather than ask for gifts like china that comes out of the closet once every 10 years, couples can instead ask their guests to gift them money that they may use toward their honeymoon.

Some couples take the honeymoon registry a step further by registering at places like Honeyfund or Zola for specific honeymoon items rather than a blanket ask. This can include a specific hotel stay or merely an upgrade, scuba lessons or ski tickets, or dining at one special restaurant during the trip.

Carve out a honeymoon savings fund. Another way to finance your honeymoon is by starting your own honeymoon budget. Once you’ve decided as a couple where you’d like to travel on your first trip as the newly betrothed, you can estimate how much the trip will cost.

From there, you can start a fund where you put in a little each day, week, or a month from income or through any cutbacks you’re willing to make to your personal budgets to turn this dream trip into a reality.

Decide to camp out in Uncle Jeremy’s backyard. And grill hot dogs for days. It will be unforgettable. Just sayin’.

Take out a personal loan. A personal wedding or honeymoon loan can be used for just about anything you want. Yes, that means it can be used to cover any and all costs of a honeymoon.

The Takeaway

The average honeymoon costs around $4,800. But clearly, that number can vary greatly depending on when and where honeymooners travel, for how long, and the level of luxury. With more couples lusting for experiential travel, the average tab has grown.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

Photo credit: iStock/DragonImages

SOPL0623071

Selling your home? If so, you likely want to do everything in your power to make it look great and trigger solid offers ASAP. Staging your home can be one key contributing factor to achieving that.

When you stage your home, you optimize its look and design. This allows potential buyers to visualize the house as their own. It makes it look like a place they aspire to put down roots. (Yes, decluttering and removing some of your personal mementos may be involved.)

According to a National Association of Realtors® survey, 89% percent of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.

Want to learn more? Here’s a step-by-step guide to how you can stage your home.

8 Steps to Stage a House for Sellers

Follow these tips for staging your home and impressing prospective buyers.

1. Take Stock of Needed Fixes

If a house requires considerable repairs, a seller may face a lengthy negotiation process with buyers that results in concessions and contingencies. Any issues flagged by an inspection will also need to be addressed with prospective buyers.

Deciding whether to make these fixes beforehand will affect how a home is staged and perceived by buyers. Even relatively small issues like cracks in a ceiling and a dripping faucet can raise concerns and influence a buyer’s impression. That’s something to be wary of, especially in a hot housing market when many buyers want to snag a home quickly.

Taking care of these common home repairs before house staging can show buyers that you’ve maintained the property and keep their focus on its strengths.

💡 Quick Tip: Don’t overpay for your mortgage. Get your dream home or investment property and a great rate with SoFi Mortgage Loans.

2. Enhance Curb Appeal

Before buyers walk through the door, they’ll have already formed an impression from the home’s curb appeal, the attractiveness of a property from the sidewalk or street.

Buyers may even do a drive-by before setting up a showing to narrow down their search. Thus, sprucing up a home’s exterior, lawn, and landscaping is essential to any plan for how to stage a house. Even in winter, curb appeal matters.

Any eyesores, such as chipped paint, cracked windows, or clogged gutters could discourage buyers from taking a closer look. Power-washing any siding and applying a fresh coat of paint where needed are some possible quick improvements.

Thinning out lawn decor, replacing burned-out lights, and tidying up gardens and landscaping are also low-cost ways to increase curb appeal.

For many prospective buyers, their first look into your home will be digital. High-quality photos can be helpful in attracting buyers.

Staying on top of things like lawn care while the home is listed could make a difference in getting more showings and securing a higher offer. In fact, 98% of NAR members say they believe curb appeal is important to potential buyers.

3. Remove Clutter

While working on house staging, you may also be encumbered with the home-buying process or figuring out what to do with all your stuff after it’s sold. In either case, staging is an opportunity to jumpstart the moving process and declutter the house.

Removing clutter is a popular staging tactic to make the interior of a home appear more spacious. A home’s square footage can’t be fabricated, but curating a more open layout can give the impression of a larger space.

Begin by packing away items that you don’t use daily, like seasonal clothes, knickknacks, sports equipment, and other odds and ends. This is also a chance to identify anything you want to sell, donate, or dispose of.

Storage space of a home can also be a major selling point. Instead of loading up the basement, garage, and closets, sellers may want to consider asking family members or friends to store their belongings, hosting a garage sale, or renting a storage unit.

Recommended: How to Refresh Your Home Room by Room

4. Depersonalize the Space

Cutting back on personal items is an important step in staging a house. While decluttering the home, stowing away family photos and clothing is a good place to start. Removing subtler items like personal toiletries can further neutralize the space.

That lavender paint in one room and turtle-themed wallpaper in another? It might be best to create a more basic canvas.

The point is to show that the home is move-in ready and an open book for buyers to add their personal touches. With just the integral furniture and furnishings remaining, it’s easier for buyers to imagine themselves moving in and living there.

5. Do a Deep Cleaning

Once the decor and furnishings have been minimized, it’s time to get the house squeaky clean. While this is one of the more cost-effective ways to stage a house, it can take significant time and energy.

To streamline the process, consider starting with the highest surfaces and working your way down. Overhead fixtures like lighting and ceiling fans are often overlooked in regular cleaning routines, and thus accumulate lots of dust and grime. It’s likely that cleaning these hard-to-reach places will bring debris down on countertops and floors.

Bathrooms and kitchens are key rooms to focus on. Water stains and mildew in sinks, tubs, and showers are obviously a no-no. Making sure appliances sparkle and that countertops are spotless can give the kitchen a fresh new look.

💡 Quick Tip: To see a house in person, particularly in a tight or expensive market, you may need to show proof of prequalification to the real estate agent. With SoFi’s online application, it can take just minutes to get prequalified.

6. Define Every Space

While the kitchen, bathroom, master bedroom, and garage are straightforward in their purpose, some spaces in a home may not have an obvious use to prospective buyers.

Thinking about how to stage spare rooms and unconventional spaces is important. For example, staging such a space as a home office or workout room could appeal to a larger segment of buyers.

7. Stage Where It Matters Most

Not every room holds equal weight from the homebuyer’s perspective. Prioritize the living room, primary bedroom, kitchen, dining room, and yard; real estate agents say these are of most interest to buyers.

The kids’ rooms and basement? Spend less time and energy there.

Recommended: Home Appraisals: What You Need to Know

8. Don’t Forget Outdoor Space

While the front of a house determines curb appeal, the yard, porch, or patio space can sell buyers on the lifestyle they could enjoy there.

The backyard is a popular place for entertaining and socializing, especially for families with kids. Tidying up the yard and addressing any safety issues like a wobbly porch railing or broken fence could be easy fixes.

Setting up a focal point, such as an outdoor seating area, fire pit, or grill, can make the space more inviting. Even if it’s a limited yard or patio space, brightening it up with flowers and comfy outdoor furniture can change the perception from confined to cozy.

Recommended: Guide to Buying, Selling, and Updating Your Home

The Takeaway

How to stage a house? It can take time and energy, but emphasizing a home’s strengths and creating an inviting atmosphere can be done with some thorough cleaning, decluttering, and rearranging.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

SOHL0623065