Resale Value of Luxury Homes: Taking a Closer Look

While you might have every intention of building a luxury “forever” home, sometimes things change. You might, for instance, decide to relocate to a new area. Or, maybe your needs change and your custom-built home no longer works for your family. Regardless of whether you intend to stay in your house forever or for a few years, it’s helpful to learn more about the resale value of luxury homes so you know what to expect should you eventually decide to sell.

We interviewed a few of the experts at Luxury Home Marketing Group here in the Triangle, asking them questions to get their insight into how luxury homes, their features, and their builders all play a role in resale value. We hope you enjoy this fascinating interview!

Do luxury homes tend to have a better resale value than other homes?

“I have not been able to identify that a luxury home has better resale than homes in other price ranges, BUT, a custom-built luxury home carries strong resale value.” 

“Yes, but it can vary based on location and price point.”

“Yes, because the quality of the build stands the test of time.”

“I think it depends on the age of the home and neighborhood.”

Do you typically mention the builder when you list a home? Why or why not?

“Yes, especially if built by a custom builder like Rufty Homes, as agents immediately recognize the quality of a Rufty-built home.”

“I always mention the builder, especially one like Rufty who has a sterling reputation. Adding Jon’s name to my listing gives the home an automatic edge over the competition.”

“Absolutely, yes.”

“I always mention the builder’s name when listing a resale home.”

“It depends on the builder, but always when it is a top custom builder.”

“I always mention the builder. I think it is important to our clients to know we have relationships with builders… it creates a level of trust on our end.”

Have you found that mentioning Rufty Homes increases the value of homes on the market?

“More than increasing the value, it increases the buyer’s comfort level. We do have to explain that a Rufty home will have more custom details than most luxury homes. They are works of art, not just a home. And, we explain that Rufty Homes stands behind the homes they build.”

“Yes.”

“Absolutely - especially since all of Rufty Homes are custom and Jon has an excellent reputation in the Triangle.”

“Absolutely! Rufty has a great reputation in the luxury community.”

What features are most important to buyers who are looking at luxury homes?

“Top features at this time are luxurious kitchens with a scullery kitchen, exceptional outdoor living spaces, covered back porches with phantom screens, outdoor kitchens, well-appointed owner suite closets, a private lot, and accessibility to life amenities (grocery, shopping, dining). Swimming pools are also a must.”

“High-quality trim is always a must in a luxury home as well as the best appliances. Kitchen cabinets are also critical as the kitchen is such a focal point now.”

“Pools, large closets, quality appliances, unexpected things like remotes for screens and shades, whole house water filters, retractable doors, a safe room, a “Costco” room, circulating hot water, several fireplaces, a true spa bath, unique lighting, and a 4+ car garage.”

“Kitchen space, no formal dining, two offices, open floor plans, plenty of outdoor living spaces, pools with water features, fire pits, and a 4+ car garage.”

“Floor plan and ‘wow’ features that set it apart from standard builds.”

“Quality materials, of course, but I think the uniqueness that comes with a luxury home makes it extra special.”

Are there certain features in luxury homes that do not add value?

“Media rooms and formal living rooms.”

“Some people say theater, but I still like a quality theater.”

“That depends… with custom homes the buyer plans for their specific needs that sometimes will not add value to the home or fit the needs of future buyers.”

“I think theater rooms are a thing of the past, along with multiple bonus spaces. My opinion only.”

Do you have any other thoughts to share about the luxury resale market in the Triangle?

“We have a critical housing shortage in both new and resale homes. Buyers are willing to purchase an existing luxury home in need of updates as they recognize they have ‘good bones’ and they have private, mature landscapes. Being built by a well-respected luxury builder is essential.”

“We have a desperate need for luxury homeowners to have a place to ‘downsize.’ There is nowhere to go if you want a 3600 or 4000 sq ft luxurious home with all the bells and whistles like they have with their large estate homes. So, they end up not moving.”

“Sellers are waiting to sell their homes because there is nowhere to go - no inventory. When luxury resales hit the market, they are gone in less than a week!”

Thank you to everyone at Luxury Home Marketing Group who took the time to share their thoughts with us! To see what sets our homes apart from other luxury builds, learn more about The Rufty Difference today.