How to Prepare Your Luxury Home for a Sale

Regardless of how much you’ve paid to purchase a luxury home in a posh neighborhood, there comes a time when you need to lighten your financial burden or finance your latest luxury purchase.

If you’ve decided to sell your home in today’s market, a lot of preparation is needed to ensure you close a good deal. With this in mind, let us look at a few strategies that are guaranteed to give you the best terms at the negotiating table.

1. Assess Its Overall Market Value

Today’s market is unpredictable, so it’s important to test the waters before hanging a “for sale” sign for all your neighbors to see. Part of this involves knowing the real market value of your property. This way, you will come up with a good idea of how much similar luxury homes are selling. This also helps you craft an asking price that’s both attractive and profitable.

To assess the overall marketing value of your luxury home, get a real estate agent to run comparables and advise you on a selling price that works to your advantage. Consider having your luxury home appraised as well, taking note of areas that require major renovations and issues such as rat infestation that could derail the selling process.

2. Call up A Specialized Agent

If it’s final that you will be giving up on your luxury home, you will need to learn how to navigate around the problems that often show up in the selling process. If there’s a high demand for high-end homes in the neighborhood, buyers will insist on paying less than your asking price.

With a real estate agent with a luxury homes certification by your side, you won’t have to yield to market pressures and deal with the complicated selling process.

At the negotiating table, your agent will be the best (and the only) person to close a deal in the most favorable terms. Not only that but a realtor can also recommend aesthetic and structural changes that can attract buyers.

With their experience in the luxury real estate market being a big plus, your agent can tap into their network of specialists which consists of contractors and lawyers to help ensure your transition to your new home.

3. Find out The Best Features of The Property

When it comes to selling a luxury brand to aggressive buyers, provide the potential value they can get from the property’s best features. A lush garden and a soundproofed home office are just some of the features you should highlight in your ads and listing on the MLS or any other listing management platform.

If you think your luxury home doesn’t have anything that makes it special, consider investing in new amenities. An above-ground pool might be a good choice, but you should also look for other ideas that will give buyers an extra incentive to consider your offer.

4. Freshen up The Interior

In addition to new features, you should also look for areas and rooms around the house that might need an upgrade. If you have a large living space, consider changing its overall appearance by opting for a contemporary design, Since you will be selling your luxury home, neutral hues such as eggshell white and beige can help your property stand out. These colors also add sophistication to the interior space.

Aside from updating the interior wall colors, you should also consider changing the decors. After clearing out all of your personals from the living room and bedroom, consider staging these spaces with matching curtains, rugs, and new furniture. It will be easier to attract luxury buyers with a fresher and flashier interior.

5. Upgrade the Exterior

Preparing your luxury home for the market should also include improving the property’s curb appeal. It might look luxurious as it is but you might find opportunities to improve it further. Instead of hedges, consider giving the front lawn a touch of zen by installing a Japanese rock garden. Water features such as a koi pond or a fountain can also help boost curb appeal.

Aside from these upgrades, you should also consider changing the exterior color so it matches what’s inside the property. Don’t worry about the cost of painting a house as high-end as yours. You just have to opt for a paint color that increases the property’s visibility.

6. Qualify the Right Buyers

Not everyone is serious about buying a luxury home, so you and your realtor must take time sifting through multiple offers and look for legitimate ones. It’s possible to receive an offer that’s higher than your asking price, but there’s a good chance buyers like that would pull out at the last minute.

With this in mind, ask your realtor about the process of qualifying luxury buyers. A good way you can go about this is by organizing an exclusive open house complete with live music, food, and wine. This allows you to know potential buyers up close, size them up, and determine the level of interest they have in your property.

Endnote

If you have no problem offloading your luxury home in today’s market, make sure you get the most out of it. Keep these tips in mind so you can sell the property with no hassle as you move on to more luxurious pastures!