Comprehensive surveys done in the luxury real estate market indicate that things are changing in a positive way for sellers. There are a number of different trends that benefit those selling a high-end home, including an increase in the number of people interested in buying a luxury home and a boost in the overall price range that buyers are interested in. What does this mean to the interested seller? It means that if you are thinking about selling a luxury home, now might be a good time.
Where the Market is Headed
In the survey conducted earlier this year, 13% of respondents stated that they were looking for a higher end luxury home. An additional 26% of individuals said that they were at least considering such a purchase. Although this still doesn’t represent a majority of potential homebuyers, it is important to consider the implications of such a large portion of the population that is at least considering a major luxury purchase. When almost four out of ten individuals are considering a purchase that comes out to half a million dollars or more, it means that there is a much higher interest than normal. The increased interest puts the power into the seller’s hands, giving you more options for your home.
What are the Things that Stop a Potential Purchase?
With the positively changing market in mind, what potential obstacles are there for somebody who wants to sell a luxury home quickly? The most common response among those who were surveyed indicates that the average luxury homebuyer tends to look more harshly upon homes that do not meet their family’s needs. If you plan to put your house on the market, make sure you emphasize family-oriented qualities such as extra bedroom, a study, and recreational areas that can serve as entertainment for children. You should also make sure that you emphasize the home’s versatility – what wasn’t used as a family home before can usually be modified quite easily to accommodate more people.
What Entices People to Buy a Home?
As the name of the market implies, the typical person who is looking into this market is interested in luxury. This goes beyond mere size and space – a large house doesn’t necessarily mean that a property has everything a typical buyer wants to see. Some of the things that luxury purchasers look for include chef’s kitchens, luxury pools, and outdoor living areas. A good view is also very nice to have. Luckily for those who are selling homes in the Denver area, Colorado happens to be rife with natural beauty and can offer great views even if the house itself is located in the middle of a suburban area.
In the end, all signs point to the fact that the market is favoring those who wish to sell luxury homes. The trends are subtle, but are there. If you plan to sell your home, consider making the improvements mentioned above. Once you do, you will probably be very surprised with the results you get.