The latest from Lili about Boston Real Estate.

Boston Luxury Homes That Need Work

October 25, 2014 |

There are only a few Boston luxury real estate buyers who would rather buy properties that need work than purchase a move-in ready home. Few of my clients have the know-how to do construction and put their own stamp on their dream Boston luxury home.

Then there are other buyers who would like to make an attempt at remodeling, but they don’t know where to begin or who to hire. They rely on friends or word-of-mouth or co-workers’ recommendations based on their experience, without knowing the extent of work that goes into property renovations. This could potentially result in disaster. Make sure that the contractors are all licensed and certified, and that all project details are considered before proceeding...“i’s” must be dotted and “t’s”crossed.

Working with the right people will ensure contractors can finish the job without leaving you in a lurch in the middle of the construction or drag out the job because they are short handed and don’t have the manpower to juggle several jobs. It will cost you dearly to hire yet a second or third contractor to finish the mess the first few left behind.

Secondly, be wise in spending money on remodeling. Don’t over spend nor get too emotional on finishes or material that are overly taste-specific. Always think of Boston luxury real estate resale and mass appeal - this is how to get the best bang for the buck. Keep in mind that new technology is a good addition to home remodeling. See what’s new in cabinetry, tile, colors, layout etc. and don’t try to put an ultra unique twist and make it too exotic and outrageous.

A client who has purchased a Boston luxury home that needs a tremendous amount of work generally looks at other open houses and properties to see what other people are doing and researching the “taste du jour” to implement those ideas into their own remodeling project. That is a very smart thinking. You can be sure that you can recover the cost on resale. Otherwise, you will be wasting your money by not being sensitive to the taste and the trend that will sell.


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