Pricing Luxury Real Estate PropertiesDecember 10, 2016
If and when you are selling a unique Boston luxury home, regardless of how much money you have spent on improvement or interior design, you should always talk to a real estate professional for a professional valuation. Every owner obviously feels their Boston luxury real estate property is the best and one of a kind due to investment, love and effort they have poured into it.
Keep one thing in mind: as beautiful, unique and exquisite the property may be, the buyers have to love it as much. Some of the Boston luxury homes are so taste specific that buyers need to make many changes to make it work for them. Investing money in renovating a property and adding the technology and the finishes that are in demand in today’s market is always a good thing and pays off. But the highly stylized interior design upgrades don’t necessarily carry the same return.
To price a high end Boston property for sale, make sure you hire an extremely knowledgeable broker who not only knows the luxury market, but has been listing and selling luxury properties to price your home accurately. Needless to say there are sellers who form their own opinion based on what they see online or what their friends advise them. What you see online doesn’t tell the whole story, since you haven’t seen the inside of these homes. I have heard sellers that I need “ex amount” per square foot. You can’t generalize price per sq’ without knowing the details of comparable Boston luxury homes sold for that amount.
Don’t shoot yourself in the foot by not listening and following the advice of a Boston luxury real estate expert.