Home staging luxury properties is a daunting, but lucrative, proposition for any residential real estate enhancement specialist. This is because luxury home buyers always have an extensive wish-list which must be met if they are to pull the trigger and submit an offer on a home. When purchasing any expensive property, there is simply no reason for a wealthy buyer to compromise at all. They have the ample funds to get exactly what they want, right down to the smallest detail.
At the upper-end of the property price scale, professional home staging becomes more crucial than ever. After all, if you can not wow these buyers, they will simply yawn and move on to the next multi-million dollar home down the road.
This dialog examines the challenges and benefits of staging the most pricey parcels of real estate on the open market.
Issues with Enhancing Luxury Properties
True luxury is defined as state-of-the-art in all measurable criteria. The home must be in top form and can not disappoint prospective buyers, in even the slightest regard, in order to sell for maximum price. This is why it is not uncommon for sellers to go to great lengths to pull every possible dollar out of their high-end real estate transactions.
Home staging is still one of the best overall values in real estate marketing, especially when utilized on the most luxurious properties. Remember that compared to traditional forms of costly home marketing, and the vast sums of money that are required for complete interior renovation, staging is a mere pittance.
However, do not make the mistake of assuming that the décor which defined luxury in 1980 will still hold sway today. Be sure to update the residence in every way, to enjoy the proven benefits of home staging, while still keeping the costs under control. Some homes will certainly benefit from more in-depth renovation work. However, any expert stager will be able to save a considerable amount of money using inexpensive enhancement solutions to replace cost-prohibitive remodeling, whenever possible.
Strategies for Home Staging Luxury Properties
The best home stagers all know the secrets to perfecting the overall décor of luxury homes. Most of the same basic staging techniques and strategies still apply, such as decluttering, depersonalizing and neutralizing the décor. Of course, this gets the ball rolling, but when it comes to upper-end price points, there are far more things which must be done in order to court the type of buyers who can make a seller’s financial dreams become reality. Here are a few suggestions that are perfect for staging luxury homes:
Be sure to tap into some of the latest trends, in order to present a completely updated style. However, do not become overly focused on representing all of today’s style trends, since a classic timeless overall look and feel will have universal appeal.
Never scrimp on the budget in the kitchen or baths. These may need to have some remodeling done, in addition to staging, in order to facilitate the most profitable offers from buyers.
Be sure that all the permits and certificates are up-to-date on the property. Many contractors do not bother to get the needed paperwork for work performed, since large and private properties are unlikely to attract public or municipal attention.
Remember that all things are relative. If it seems costly to spend $30,000 on home staging a two million dollar house, just consider that this investment may give back $300,000 in profit. Even a much more modest $70,000 price increase will make the effort worthwhile and contribute to a much faster sale.
Be careful about installing fixtures, appliances or décor items where quality can be ascertained by name-brand alone. When discussing luxury properties, name means everything. In essence, if buyers want top-of-the-line; give it to them. Neglecting this consideration will cause complaints and a decreased chance for a maximum profit sale.
Home Staging Luxury Properties Summation
True luxury requires the meticulously trained eye of a stager who works with high-end properties on a regular basis. Obviously, the fit and finish of the furniture and art must be on par with the overall opulence of the home, in general. This is why luxury real estate staging is a separate niche industry unto itself.
For home sellers, I always recommend that you hire a home stager who specializes in upper price point real estate. If you do not know who to enlist to help you get the residence staged and then sold, ask your real estate agent or broker for a referral. They will be happy to oblige, since staging will make their jobs so much easier once the house is listed.
As a final thought, I remind you to stage the home first and then list it with an agent. This way, the list price will be higher, the promotional media depictions will be idyllic and the property will be ready and waiting to receive anxious prospective buyers who can’t wait to see it in all its perfection.