""A turnkey house at an inferior location to one that's a diamond in the rough sometimes can go for more money because there's such a premium attached to the fact that the work is done. In the luxury market, a renovation or build could be a two-year project. So, for a lot of people, if there's something turnkey that they could buy right now versus waiting, they go with that option.""
"The definition of luxury real estate has moved beyond simple square footage to a concept Oprah Winfrey has said is one of the greatest gifts we can give ourselves: time. Today's high-net-worth buyers are bypassing the sprawling, high-maintenance estates of the past in favor of turnkey sanctuaries that offer immediate gratification and multi-generational autonomy. From "invisible" kitchens that hide the mess to the resurgence of private pools, the new wish list is driven by a desire for homes that problem solve rather than just project status."
"Patience is increasingly crucial in real estate. With high-end contractor shortages extending major renovation timelines, affluent buyers are no longer looking for potential; they are paying a premium for immediate gratification. The old adage of "buy the worst house on the best block" has been flipped."
Luxury real estate priorities have shifted from sheer square footage to preserving time and immediate, usable lifestyle. Affluent buyers favor turnkey properties that eliminate long renovation waits and provide instant gratification. Demand for problem-solving amenities—such as "invisible" kitchens, private pools, and flexible layouts—has risen while status-driven features decline. High-end contractor shortages lengthen rebuild timelines, increasing premiums on move-in-ready homes. Floor plans are evolving into multi-generational compounds that offer autonomy within proximity, driving interest in accessory living spaces and separate suites to accommodate aging parents or returning adult children.
Read at Boston.com
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