07/04/2019
Check out 10 Luxury Upgrades to help boost your sales price in the high end home market
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10 Luxury Upgrades t...
Boost Your
Sales Price
The luxury home market shows signs of cooling down. Redfin reports that both sale prices and sales volume for high-end homes are diminishing in many metro areas throughout the United States. As a homeowner or investor, you are often forced to react to the whims of the market, good or bad.
Fortunately, there are a number of upgrades you can add to your luxury property to increase your sale price and decrease your property's time on the market. In the following list, we will examine ten luxury upgrades that will help increase your home’s sale price.
1. Add an In-Law/Guest Suite
In-law/Guest Suites are almost de rigueur when it comes to luxury homes. Whether homeowners use it for guests, staff, or just as an in-home getaway area, they add a great deal of curb appeal to a home. You do not necessarily need to take on a massive construction project to add an in-law unit. Often these units are segregated by floor, with a guest suite on the bottom floor or basement while the primary living quarters are on the top.
2. Put In Smart Home Systems
Integrated computer automation devices are a phenomenal touch. They come in the form of smart doorbells like Ring, thermostats like Nest, as well as home audio and security/camera systems. These systems can do everything from answering your door to turning the heat off from your smartphone.
3. Install a Wine Room/Cellar
A dedicated wine room will appeal to the many oenophiles in the high-end home market. A cellar is not always practical, however. You can create a small, climate-controlled area out of a pantry or closet in which to store wine, beer, and other spirits.
4. Replace Standard Flooring With High-End Materials
Flooring can make or break the design cues in a room or home. You can upgrade your vinyl or graystone flooring to reclaimed hardwood or travertine tile. If you have a carpeted area you can