Luxury homes come in many shapes and sizes to suit many different lifestyles, and marketing them to sell requires an individualized plan. From a condo by the ocean that features countless amenities, to a mansion inside the city limits, or maybe a spacious lake home with a dock for boats, these types of luxury living spaces remain in high demand in 2022. Demand for housing inventory is at an all time high, so if you are looking to sell your home or pied-à-terre, now is a great time to turn a profit.
Low inventory and high demand means we are still in a seller’s market, and houses are flying off of the market in little time and at high prices. Now that the pandemic has calmed, many people are looking to move forward in life and improve their everyday standard of living. This has led more and more prospective home buyers to larger homes and vacation properties, which has created a great environment for you as a seller if you are ready to part with your home.
The first thing you should do is hire a reputable realtor with experience in the luxury home market. They should be knowledgeable in your target market, have a strong referral network of agents with buyers to match with your home, and know how to negotiate with buyers to get you the best possible return on your investment in the home. Luxury homes require a certain standard in marketing to attract the right kind of buyers. Expert staging, high quality photography and videography, going the extra mile at open houses, and reaching agents with luxury buyers all work together to present your home as the high-value property it is. Beachfront vacation homes have a very different target buyer than a primary residence, for example, and reaching them where they are not only takes a seller’s agent who has experience in that market, but one who also has a network of buyer’s agents with luxury clients shopping in your area.
In this current market, you can be more discerning about who to sell to. Because housing inventory is low, buyers are competing for winning offers and are willing to make concessions to stand out among the crowd. It is not uncommon right now for buyers to offer to waive some fees, contingencies, and even inspections in order to make the value of the sale better for you. If you find yourself in a bidding war, you could end up with a VERY attractive offer on your home.
This summer market is the perfect time to consider moving on from your luxury home or vacation property while the potential to make a profit on your initial investment is at an extreme high. If you’re ready to take advantage of this opportunity or want to learn more about what your property is worth, contact me today!