The latest from Lili about Boston Real Estate.

Spending Habits of Boston Luxury Home Buyers

November 16, 2013 |

It’s interesting to see how new homeowners’ spending habits change and where they are choosing to spend their money these days. Studies show that if the home does not require any structural work or a new roof / heating system / anything that requires immediate attention, home buyers will put some allowance aside for some Boston luxury home upgrades.

Boston Luxury Real Estate Renovations with ROI
No matter how renovated the property is already, if home buyers decide to upgrade anything, money will be spent on kitchens and appliances – the fancier, the better. Appliances are like any digital gadgets, they keep coming out with newest and latest models that appeal to new home owners and their allowance is generally spent on the newest technology.

New home owners also spend money on furniture. Moving into a new Boston luxury home, people prefer to create new living spaces even if they have plenty of furniture. Some buyers choose to re-upholster their old furniture to give their new place an updated and fresh appearance. Depending on your budget, it’s easy to mix new and old with expensive and inexpensive pieces without looking tacky. Residents have mixed furniture or accessories from Ikea with expensive Italian furniture, and it’s an art to be able to do it right. That’s why it can be worth it to work with professional interior designers, ensuring the balance is just right.

I have had Boston luxury real estate properties for sale in super high end buildings where the unit was completely gutted and renovated, yet the kitchen was an Ikea kitchen and buyers marveled the workmanship and finishes. You can have cheap cabinets, but expensive appliances. It’s up to each home owner to decide where to spend that extra $$$ to get the maximum bang for your buck.


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