With furniture and decorative costs continuing to rise, some builders and existing-home sellers add value by including their existing furnishings with the sale.
NEW YORK – Many developers believe that turnkey homes – high-end, furnished, pre-decorated homes that allow buyers to easily move in – are what home shoppers want nowadays. The trend is taking root in places like Hawaii and California and in many second-home resort communities.
Rob Kildow, director of sales and principal broker for Hualalai Realty, told Mansion Global about the growing appeal of turnkey residences in his market in Hualalai, Hawaii. Fully furnished residences will sell within days at or above asking price, he says.
“When our residents sell their home, a buyer from a smaller property here buys it and moves into the bigger space,” Kildow says. “They leave the smaller home fully furnished while they create their new residence. I then have a three-page waiting list of buyers interested in that smaller property.”
Kildow told Mansion Global there’s a “clear trend toward single-family, ‘want it now’ homes. Psychology always provides different sales drivers, and the pandemic pushed buyers on the fence to buy – in some cases ‘sight unseen.’”
A home fully furnished and decorated may have fewer surprises for a buyer. Also, during the pandemic, furniture and construction materials have faced supply chain bottlenecks that have made getting materials tougher.
Silversands Villas on the island of Grenada, Calif., is selling fully furnished homes that also feature original artwork that stay with the homes. Kandace Douglas, a real estate sales and marketing director at Silversands Villas, told Mansion Global the development is embracing the luxury “move in now” mentality that more buyers appear to be exploring.
“Turnkey homes offer peace of mind and instant enjoyment – while avoiding construction costs and labor force issues presented by today’s economy,” Terri A. Haack, president of Rancho Palos Verdes, a resort along the Southern California coast, told Mansion Global. “Time is priceless.”
Source: “Turnkey Is King for Those With a ‘Move-In-Now’ Mentality,” Mansion Global (May 8, 2022)
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