Last Updated on June 15, 2023
Over time, real estate tends to appreciate in value—we all know that. But not all properties appreciate at the same rate. Many factors affect a property’s value over time, including the condition of the home, the way the features date, and its location. For luxury homes, even small fluctuations can mean big bucks!
Ensure your luxury home appreciates at a good pace and has a high ROI. Here are five proven ways to increase the value of your luxury home so it stays among the most valuable in your neighborhood.
Make the grounds of your luxury home attractive
The curb appeal of a luxury home is important. It gives you an opportunity to impress your guests long before they even get to the door. Boost your curb appeal by focusing on quality landscaping and hardscaping that matches the style of your home. But if you’re determined to demonstrate real luxury, take a cue from Asheville’s godfather of glitz, George W. Vanderbilt. Landscape architecture goes beyond mere shrub-planting and instead considers all exterior areas, landmarks, and structures to create a truly cohesive aesthetic experience—now, and for years to come.
Make your luxury home low maintenance
Luxury buyers are looking for a place where they can peacefully enjoy the finer things in life—not feel like they’re managing a theme park. Whether you’re looking for buyers today or years down the line, prep your luxury home now. Replace older appliances and other major features, like the furnace or roof, as necessary. If you’re making design or decor updates, opt for lower maintenance (and easy to clean) flooring, siding, light fixtures, etc. Best case scenario, you get to enjoy all those “finer things” long before the home ever hits the market.
Make your luxury home more efficient
In addition to saving time and money while you’re in the home, it could benefit you in the long run to make your home more energy efficient. Efficiency, along with related green home features, is one of the most desired features in luxury homes today. And it’s likely that that demand will not decrease anytime soon. Focus on effective insulation, efficient windows, LED and solar lighting, and upgraded appliances. If you have the space, add solar panels somewhere on your property.
Make your luxury home smarter
Along with green features, luxury home buyers—especially younger buyers—are looking for a home equipped with smart features. Communication hubs and sound systems are great, but if you’re focusing your energies, start with smart safety features. Smart thermostats, fire detectors, security cameras, door locks, and more offer luxury buyers the peace of mind they need to enjoy all the other excellent features and amenities of your luxury home. If you can, integrate all the features together under one ecosystem for ease of use.
Make good use of the space in your luxury home
Sometimes, more is more. But depending on your property’s terrain, it can be difficult to build additions onto an already spacious luxury home. If you can’t add square footage to your property, make better use of the space that you have. Finish lower level, garage, or attic spaces that are currently unused. Add a smaller structure on the property that could serve as an artist’s studio, workshop, or outdoor lounge. As you add to the home, be cognizant of how attractive your beloved “custom” features may be to future buyers. It may be difficult to find a buyer who wants to maintain a regulation-sized basketball court or putting green in the middle of an infinity pool.
Get the best price for your luxury home
If you’re ready to sell your luxury home, we can be of assistance. Every day, we make a conscious effort to do a few things differently and everything better than our competition.
Contact your agent today about selling your luxury home.