It didn’t seem that long ago when feng shui was important to almost every home buyer and seller. And if Google Trends is an indication of relevance, the diminishing number of searches for feng shui over the last decade indicates reduced interest. Perhaps the bursting housing bubble shifted everyone’s attention; buyers’ were determined to get distressed properties at a deal, while sellers were determined to get a model home look through staging. Although seemingly having lost significance in the housing market, feng shui is once again becoming a top concern for buyers and sellers.
If you’re not familiar with the concept, Merriam Webster (merriam-webster.com) defines feng shui as “…a Chinese system for positioning a building and the objects within a building in a way that is thought to agree with spiritual forces and to bring health and happiness.” The International Feng Shui Guild (ifsguild.org) adds that feng shui is derived from the Chinese philosophy of Taoism and has been practiced for aver 5,000 years. Furthermore, it is based in science and nature to help you live a healthy and prosperous life!
You may already be familiar with some feng shui principles, as a few basics of home staging share similar tasks. For example, de-cluttering, maximizing space and creating a “light filled home” are some of the preparations prescribed to stage a home for sale. And according to feng shui principles, these undertakings are vital in channeling a home’s energy flow. Although there may be some crossover, take caution not to confuse home staging with feng shui; staging a home is not the same as following feng shui principles.
One of the reasons for the surging focus in feng shui is the increase of home buyers from China. According to the National Association of Realtors® (realtor.org), buyers from China represented about 16% of international home buyers, while purchasing an estimated $28.6 billion of real estate in 2014.
Feng shui is also important to Chinese-Americans, according to a recent survey conducted by Better Homes and Gardens® Real Estate and the Asian Real Estate Association of America (Feng Shui a Driver of Home Selection and Investment for Chinese-Americans; bhgre.com; August 11, 2015). The survey revealed that 76% of respondents are familiar with the principles, and half of those respondents practice feng shui, which is “…considered to dictate spatial arrangement and building design to produce a harmonious flow of energy.” When it comes real estate, consider that 81% of respondents indicated that feng shui influenced their buying decisions; and that 79% of respondents indicated that they would pay more for a home that follows feng shui principles. And if you’re selling a home, you should take notice that 75% of respondents indicated that they experienced at least one “deal breaker” conflict of feng shui principles in a home.
If your home doesn’t exactly correspond with feng shui principles, consider offering a “Feng Shui Contingency.” Such a contingency was highlighted in a 2014 Realtor®Mag article about the Seattle housing market and the high concentration of buyers from China (Why You May Need the ‘Feng Shui Contingency; realtormag.realtor.org; September 22, 2014). Much like a home inspection contingency, many buyers are including a contingency to have a feng shui master approve the house. The good news is that some conflicting elements may be remedied (such as landscaping); however, others cannot (such as the home’s physical location and direction).
By Dan Krell
Copyright © 2015
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Disclaimer. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. Using this article without permission is a violation of copyright laws.