The typical goal when listing luxury homes is to realize maximum profit with a quick sale. In Calgary, the luxury market is defined by homes that are valued at $1 million dollars or more. Although Calgary is currently experiencing a seller’s market (meaning there are more buyers than there are homes to buy) the impact of this market trend can be different in the luxury homes sector. This sector is often driven by factors different than the typical home sales market and specific strategies are often required to achieve top dollar and fast sales. Sellers of luxury homes may wonder if a home renovation is a smart strategy to achieve their goals in selling.
Home renovations can pay off when it comes time to sell. It is important to make sure the renovations you are considering will have a great return on investment (ROI). Here are some of the renovations with the highest ROIs:
Do These Luxury Home Renos Pay Off When You Sell?
As you can see, investing in renovating luxury homes to sell can result in a great ROI, but dollar for dollar, the math might not make sense. Here are some additional considerations before you take on a luxury home renovation.
Renovating your luxury home could help you achieve maximum profit in resale. But major renovations take time and investment and depending on your personal goals for selling, this strategy might not make sense. The smartest strategy for optimizing profit, while selling as quickly as you need to, is to partner with a team who understands the complexities of selling in Calgary’s luxury homes sector. The right Realtor® will have the skill and experience to protect your financial investment while helping you achieve your goals for selling. The expert team of Realtors® and real estate specialists at The Tanya Eklund Group have the insight and experience to position your luxury home for the next sale in your neighbourhood. Leverage our network and in-depth knowledge of the Calgary luxury homes market to ensure that you are able to sell your home quickly for the best possible price.
If you are seeking a unique luxury property for your next home or if you are interested in listing your luxury home for sale, The Tanya Eklund Group team has the resources you need. Reach out to us at 403-863-7434 or contact us online and let’s talk about your home.
Any residential property with a sale price of over $1 million is considered a luxury property. These homes can include single family, acreages, estate homes, and even semi-detached homes, townhouses, and apartments.
A Realtor® who specializes in luxury home sales will have the experience and knowledge to navigate some of the unique challenges that can arise when buying or selling a higher priced real estate product. This includes unique marketing strategies and a robust network of high-end service providers, qualified buyers, and other Realtors® known for luxury real estate transactions. Zoning, valuations, housing type, offer conditions, marketing and more can be different for luxury properties than for more average priced homes for sale.
If you are looking to purchase a luxury home in or around Calgary, contact our team first. We have the resources to get you started on your journey and can guide you every step of the way. We have an extensive network of lenders, lawyers, home inspectors, designers, tradespeople, and more to support you as you search for and purchase your dream home. Connect with us, share your objective, and we will provide a strategy that is intentionally designed to help you achieve your real estate goals. To begin looking at the luxury homes currently available in Calgary and the surrounding area, view active Luxury Homes For Sale here.
Connect With Us Today!
The Tanya Eklund Group is a team of highly knowledgeable, skilled, real estate professionals. Our team concept allows us to offer a full-service, elevated buying or selling experience to our clients. But most importantly, we are dedicated to building trusted and loyal relationships with our clients. Connect with us to share your real estate goals, and we will share with you why we are the perfect team to make them happen.