Buyers who are in the market for a luxury home tend to lean toward properties that have all the bells, whistles and high-class amenities. And while most of these must-have items are being included in newly-built homes, that’s not to say that residential resales are being overlooked.
If you’re thinking about listing your Southwest Florida luxury home and you’re wondering if your property can compete with new construction, the answer is a resounding yes! However, you’ll want to speak with your real estate agent about pre-sale renovations.
In fact, most luxury real estate experts agree that pre-sale renovations are a must-do—if you want your home to compete in this highly competitive market. Not only can renovations help your home sell faster- they can help your home sell for a higher price.
What buyers are looking for:
Kitchen renovations are at the top of the list. Real estate agents suggest replacing old, dark cabinetry, adding new hardware and upgrading outdated fixtures.
Bathroom remodels are also recommended- but be wary about opting for anything that’s “too trendy.” If you do something that’s too unique, this could limit your buyer pool. Your real estate agent can tell you the types of upgrades that local buyers have been drawn to.
You might also want to consider repainting the interior and exterior of your home with light, neutral colors such as eggshell white, beige or light gray.
Other popular upgrades include upgraded light fixtures, garage door replacement, a fiberglass grand entrance and vinyl or wood window replacement.
Popular luxury home amenities:
The types of amenities that buyers are looking for vary greatly from market to market. For example, buyers here are drawn to outdoor living amenities and lush, topical landscaping whereas this would not be the case up north.
Alarm systems, in-home speakers and internet connectivity that’s built into the home are popular in all areas of the country. But again, it’s best to speak with your real estate agent as they’ll be able to tell you what local buyers are drawn to most.
In closing, if you’re thinking about putting your luxury home on the market, pre-sale renovations can go a long way. One real estate agent we spoke with told us about a $3 million property his clients had been trying to sell for months. It wasn’t until after they committed to $200,000 in renovations, that they finally got an offer. Not only did the renovations help get the home sold, the offer came in above listing price.
Michael Burke, P.A.
Paradise Luxury Group
Keller Williams Elite Realty
26381 S. Tamiami Trail, Suite 300
Bonita Springs, FL 34134