We pour our souls into our homes. If you’ve been nurturing your luxury home for the entirety of your child’s life and are looking to downsize, you might wonder how your home, and the investments you’ve made in it, help it fare in the marketplace. You will no doubt have to make adjustments to bring your home to marketplace. Below are some tips for dealing with buyers who are purchasing luxury real estate.
Understand your unique advantage
Many homes come with less than obvious unique advantages. For example, if your home is in a gated community, it is likely to weather the storms of a down economy better than other pieces of real estate. It’s important to identify all the little, less obvious ways that you can convince others that they’re finding a dream home when they step in your door. Another great example is historical significance or location.
Get the remodel just right
You want to upgrade just enough that buyers are happy but not so much that the investment won’t pay off. Research trends in your neighborhood. What do buyers tend to want? For most people purchasing luxury real estate, ceiling height is a huge indicator in determining home worth. Most homes will get a return on investment by extending their ceilings up to 14 feet. Past 14 feet, buyers are less inclined to care. Light is also a huge concern when buying a new house. Buyers want bright, inviting spaces so add some windows and remove your curtains!
Invest in technology
There are hundreds of ways to infuse technology into a home to make life easier. Your home could really fall behind if it doesn’t have tech functionality. Buyers are looking for appliances, security systems and entertainment systems that can be controlled remotely. Work with a company to infuse these changes into your home. If your buyers will be moving to a gated community, make sure to keep up with the Jones’! Learn the amenities your fellow community members have and bring your home up to speed.
By making small, thoughtful investments before putting your home on the market, you are incentivizing buyers to understand the value of what you have to offer. More like this article.