A lot of different factors go into the art of pricing a luxury home. Today we're talking about a few of the important ones you need to know about.
Pricing luxury real estate is a complicated process. There are a lot of factors that determine the value of such properties, and today, I wanted to key in on four of the most important ones:
- Location: You've heard the phrase 'location, location, location' again and again because it's true. Is the home on a golf course? Does it look out over the water or polo fields? Location matters and adds a lot of value!
- Size: Luxury buyers tend to want more space, so the larger the property, the larger the value.
- Special amenities and uniqueness: Every luxury property has something unique about it like heated marble floors, an infinity pool, or retractable screen enclosures. What does a home have that lets us tell the story of its uniqueness?
- Comparables: You won't find the perfect match, but you will find that these comparables will help you find the market value to price the listing at.
