When it comes to listing luxury Lake Tahoe real estate, lots of homeowners think size and over the top, complicated details matter. And while buyers do like space to spread out with various living spaces available for entertaining, square footage has been traded in for other amenities. Millennial buyers are focusing more on convenience and good locations while Baby Boomers are looking to downsize. With 32% of consumers stating that large homes are no longer as desirable as they used to be, sellers may be wondering what it is luxury buyers are looking for. If you are listing your luxury Lake Tahoe real estate this year, Forbes recently provided some valuable insight on what buyers want.
Most affluent buyers are interested in moving into new, modern spaces that need little to no additional work or remodeling. Which means that fixer upper with beautiful views and great potential may not be the first choice. Instead, luxury buyers are interested in brand new open spaces instead of outdated features and designs. Additional features of interest are multifunctional spaces and smart homes with streamlined features making living easy, energy efficient and are personally curated to each buyer’s lifestyle. In the past, luxury meant formal, fancy and expansive while it now prioritizes functionality, flexibility, incorporating environmental surroundings and personal wellness.
So what does this mean for seller’s listing luxury Lake Tahoe real estate that may not have the above features in their home? It means you will need to price competitively and stay flexible as the market changes and buyer interest shifts. While the previously mentioned features are popular, there are still buyers who want that vacation home with lots of square footage for visiting friends and family or to house large groups as a vacation rental. You can also work closely with your Lake Tahoe Realtor on how to prepare your home for the market. This could mean making a few small changes or doing some upgrades to fetch top dollar. If you are thinking of listing real estate in Lake Tahoe, feel free to call me. I would be happy to walk through your property with you and give tips as well as provide a complimentary market analysis.