Improvements That Help Sell Your Luxury Homesvegasho.me /1xQv88r

Debbie Drummond

Reports show the luxury home market is heating up. As noted in the Luxonomist, “U.S. Luxury Homes AreSelling at the Fastest Path in Years“. The article focuses on the uber expensive $30 Million plus market. Itcredits much of it to investors looking for more securitythan they find in the stock market. The over the topluxury homes aren’t the only sector of the market thatis doing well. Homes priced between $1 Million and$30 Million are also selling at a fast pace.

The Las Vegas market has sold 210 homes for morethan $1 Million this year. Out of those homes, 68(32%) were on the market for less than 30 days. Howdo you sell a home quick when it’s in a price rangefew can afford? Two important factors are crucial. Price it right and make sure it shows well . A homein a guard-gated community with fabulous views won’t sell quick if it’s over-priced. It won’t sell quick if youhaven’t updated anything since you bought it twenty years ago.

It’s disappointing to show a home priced at $1 Million plus if it hasn’t been well maintained or updated. Your home is an investment and should be treated like one. Proper maintenance will save on repair bills,energy bills and help you get a better price when it’s time to sell the home. Our friend Bill Gassett offersgreat suggestions in ”Improvements That Will Help Sell Your Home“. For luxury homes, we would go a bitfurther. The following guide is a look at current trends in luxury homes.

Improvements for Luxury HomesKeep it Neutral. Bright red or garish green rooms won’t appeal to your typical home buyer. They mayhave suited your taste or a teen-ager’s taste but most people will look at them and deduct a few thousandfrom the price. There are lots of resources available to help you pick colors that will appeal to buyers. Karen Highland’s “Decorating Trends Forecast for 2015” is an excellent guide. It suggests colors that arecurrently in vogue. Another resource is the Pottery Barn’s Color Collection.

Paint isn’t the only area that should be neutral . We recently showed a large home with golfcourse frontage in an excellent community. Thesellers had replaced all the appliances. My buyersloved the Wolf stove and ovens. The kitchen hasa great design. The home had a good floor plan. But it was so outdated. It was antique furnitureand deep brown paint on the coffered ceiling. Looked like someone’s retirement home. Sad,the sellers had spent quite a bit to make the homewhat they thought was wonderful. Don’t gooverboard with old fashioned decor and paintcolors.

Neutral furnishings with pops of color are better than bold.

Dream Kitchen with traditional finishes

Another home we recently viewed was a For SaleBy Owner for $1.6M. It was a Toll Brothers homein a popular community. The sellers had lived inthe home and designed it to be perfect for theirlifestyle. Including the Bocci ball court where theycould have cocktails and pretend they were on acruise. They had moved to a custom home up thestreet. The husband was so proud of the way hiswife staged the home. He pointed out the bedwith the leather trimmed headboard and burgundyduvet. She bought them to stage the home. Theduvet cover did match the burgundy velvetwallpaper on the accent walls. They may findsomeone who likes it.

Unique Homes Magazine featured luxury home stager Meredith Baer in “The Transforming Touch“. Sheuses white or beige furniture. Then adds pops of color with throw pillows and artwork. As she says,

One of the biggest decorating mistakes people make is having too much color in aroom.

Dream Kitchens. The kitchen is a focal point ofthe home. Investing in upgrades or a re-design ofthe kitchen is a good idea on a home that’s morethan 8-10 years old. Corian counter tops from the80s can still be found in some of our oldercommunities. Buyers will discount the price whenthey see them. The subzero fridge from the 80s isanother artifact we encounter.

The Chef’s kitchen includes professional qualityappliances. Wolf, Viking or the equivalent arepreferred. Kitchens should offer at least twodishwashers. We have a new construction homein contract that was built with only one dishwasher. The builder did leave a spot where it would beeasy to add another. The buyers insisted that he do so before they close escrow because a home this sizeis too big for only one dishwasher. The home is only 6100 sf. The latest dishwashers, washers and dryersare energy efficient and quiet. If yours are old and noisy, upgrade them.

Lighting can be romantic in more intimate areas of the home but not in the kitchen. Today’s dreamkitchens have great lighting. Long pendants, recessed and LED lights and under cabinet lighting make iteasy for the home cook to see what they’re doing. Professional quality faucets with undercounted sinks isanother worthwhile investment.

Keeping with the professional quality kitchen, luxury homes are now utilizing durable countertops. Counters are made from Quartzite Granite, Caesarstone, Marble, Butcher Block and even concrete. Thebest materials are easy to clean and withstand heat.

Outdoor Kitchens. We only get 4 inches of rain per year in Las Vegas and it’s sunny 300 days per year.

Contemporary kitchens are well lit with open floor plans

Free standing tubs replacing jacuzzi tubs

In our climate, grilling is not only a healthy choice it’s feasible. If your luxury home doesn’t have anoutdoor kitchen, it’s a worthwhile investment. Outdoor kitchens include high end appliances. They offermore than a grill, add a fridge, wine fridge, sink, high end cabinetry and granite counter tops. Includeseating and a TV for friends to keep you companywhile you cook.

Luxurious Baths. Next to kitchens, lavishbathrooms where you can enjoy a nice longshower or soak in the tub are another key featurein a home. Today’s bathrooms feature over-sizedshowers with a variety of shower heads. Bathtubs can offer air therapy or chromatherapy wherelights infuse the water with colors to help yourelax. Free standing tubs are also becomingpopular. If your home has one of those old 80sjetted tubs in the pinkish color, get rid of it. Today’s buyers hate them.

Technology. Another smart investment for theluxury home owner is technology. From thesecurity system to the climate to the music, today’sluxury homes can be controlled from a smartphone or tablet. Your home may be in a guard-gated community with roving security, but buyersexpect more in a luxury home. They want to videocameras and wireless security throughout thehome.

Landscaping and pools. In some parts of theCountry having a swimming pool can actually takeaway from your home’s value. That isn’t the casein Las Vegas. 92% of our homes that sold formore than $1 Million this year had pools. Whenworking with luxury home buyers, the majoritywant a pool and if it doesn’t have a pool they at least want the space to have one put in. Pools add valueto your home in the Las Vegas market. Make sure that your pool is in good operating shape. If it is anolder design, you might want to consider having it re-surfaced with a more contemporary color/finish.

The type of landscaping you prefer may differ from what your buyers prefer. Some buyers opt for eco-friendly desert landscaping and artificial grass. Others prefer real grass with lush landscaping. Don’toverhaul your current landscaping but make sure it’s well manicured. Trim anything that’s over grown.Replace dead or dying plants. Make sure the sprinklers are all working.

Energy Efficiency. Luxury homes tend to be larger than your average home. They may have highceilings with windows and glass walls. It isn’t unusual for buyers to ask about a home’s energy bills. Abuyer can call NV Energy to get the average electric bill for the last twelves months at an address. Buyersmay be scared off when they find out what you spend on utilities. Have the electric company do an energyaudit. You may need to consider additional insulation. Replacing old HVAC systems, hot water heaters,single pane windows, etc., can help you save on utility bills. They will also help you get a better price foryour home when you sell.

Flooring. The type of flooring you have in your home is a matter of personal taste. If the flooring is ingood shape, there is no reason to replace it. If it isn’t in good shape, buyers will expect a discount since

When appliances need replacing, look for energy efficient options

Traditional home theatre requires designatedroom and “black out” lighting.

they’ll need to replace it. Carpet that’s stainedand worn out can be another indicator that youhaven’t maintained the home well. Buyers whosee this will take a closer look at how everything ismaintained.

The Las Vegas climate gives an advantage to hardsurface floors. Most of our luxury buyers preferwood or tile floors in the kitchen, baths and livingareas of the home. Some prefer having no carpetanywhere in their home. Manufacturers are nowoffering incredible designs of tile that can evenlook like wood or planks. The hard surfaceshandle our dry dusty climate much better than carpet.

If you prefer carpet in the bedrooms, it should be a high qualitycarpet with a good pad. Some older homes may still have carpetin the bathrooms. This is not a good idea. It’s easy for the carpetto get wet and grow mold. If you still have carpet in your bath, it’stime to replace it with a hard surface.

Wine Cellars and Wet Bars. This is becoming more common intoday’s luxury homes. We’re not talking about your grandparentswine cellar in the dusty basement either. Today’s custom winecellars may be hidden away in a closet or under the stairs. It’s justas likely to be a glass enclosure that showcases your collection ofrare vintages. Wet bars and wine cellars create the perfectenvironment for having an intimate dinner or a big party.

Home Theatre and Media Rooms . Today’s home theatre ismuch like having a small movie theatre in your home. They aredesignated rooms that are enclosed to be completely dark whenthe lights are turned out. They include high quality audio visualequipment and a large video display with high end surround soundsystem. Rows of theatre chairs, recliners or sofas are positioned togive the best viewing experience. Home theaters are popular forthose who like to entertain with movies.

Some buyers are now opting for more versatile media rooms instead. The media room has a smallerdisplay or television

monitor. They can be used for video games aswell as viewing movies. Seats are more casualthan the theatre type seating. We’ve seen morecontemporary, low backed seats and love seats inmedia rooms. The media room can use a moretypical surround sound system and doesn’t requirethe extra sound proofing. The media room offersthe versatility of being included in the family roomor living room. If you don’t have the space for adesignated home theatre, you should certainly setup the family room or living room as a media

Media Rooms are casual and multi-functional

room.

Considering a remodel for your luxury home?

Karen Highland offers more useful tools in “VirtualRemodeling and Decorating“. Try the GoogleTool to picture the new home theatre or dreamkitchen you’re considering. I agree with Karenabout Houzz.com. Could spend hours there.

More Suggested Reading for Selling Your LuxuryHome:

8 Tips That Must Be Considered WhenSelling A Luxury Home by Kyle Hiscock

41 Home Selling Mistakes to Avoid by Lynn Pineda

How Well Does Your Real Estate Listing Compete Online by Andrew Fortune

10 Things To Do Before Selling Your Luxury Home by Debbie Drummond

Outstanding Luxury Home Marketing – Photography and Video by Debbie Drummond

Debbie Drummond has over ten years experience in the Las Vegas Real Estate Market. She specializes inluxury homes and high rise properties. Buying or selling a Las Vegas home? Call (702)354-6900 or emailDebbie@LVHomePro.com.