Welcome to the magnificent Lake Tahoe region, where the real estate market is bursting with luxurious properties. It is a great place to live, buy a vacation home, or invest. But there is a lot to consider before buying or selling a property. For one, it is good to learn about what can affect the resale value of luxury real estate. This post will cover some factors that affect Lake Tahoe luxury property resale value.
Lake Tahoe Real Estate Market Watch
As of this writing, the median price per square foot of homes in South Lake Tahoe is $517. However, real estate trends can change quickly. If you want to buy or sell a home near Lake Tahoe, click here to contact us.
3 Factors That Affect The Lake Tahoe Luxury Property Resale Value
1. Amenities
Luxury amenities are a big part of what makes these properties desirable. Being on the lake is one of the top factors when people consider amenities. However, there are several features that can increase value.
A property with a boat dock or a private slice of the beach can be valuable. Things like pools, outdoor entertaining spaces, and hot tubs can also be attractive. Features like gourmet kitchens, walk-in closets, and open floor plans are also popular.
2. Location
As is true with any area, location is a significant factor when it comes to property value. Properties on the lake are some of the most valuable. Locations in the mountains can also do well.
And let’s remember convenience! Proximity to attractions, trendy shops, and restaurants can increase value. Being close to recreational activities like skiing, golfing, and hiking can also add to the allure.
If you’re a seller, your luxury home’s location should feature in the listing. For example, if it is on the lake, make sure to mention that and get photos of the view. You can also list local attractions and their distance from the property.
3. Demand and Supply
The equation is simple: high demand plus limited supply equals skyrocketing resale values. However, the opposite is also true. When more properties are on the market, or there are fewer buyers, prices can dip. That’s why timing can matter when selling a luxury home near Lake Tahoe.
These are just a few of the factors that influence property values. Age and condition are also significant. You can check out this page to learn more about what your home is worth.
Do you need help buying or selling a luxury property near Lake Tahoe? Click here to contact Fawne Hayes. Fawne is a local real estate expert ready to help you achieve your goals.
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