Having a house is one of the primary necessities of any person who wants to live decently. Many real estate companies offer homes that range from the simplest designs up to the most extravagant. Most often than not, celebrity homes are on top of the list among various houses available on sale. There are reasons why most celebrities opt to sell their homes in the real estate market and buy a new one. Some have their own personal reasons like family and work convenience while others see it as a profitable undertaking.
Celebrity homes are considered to have a high chance of making a good deal in the market. In addition to the fact that most celebrity homes come in various captivating designs and structures, the idea of having a celebrity owner makes an impression to probable buyers. Several buyers are even eager to pay more just to own one. But the question is, what is with celebrity homes that make them easier to market?
After being traded to the Florida Panthers, a sports celebrity decided to put his house on the market this year to buy a new house. The old home was purchased two years ago and was renovated in a fast pace of one year. Over-all, the construction was admirable considering that it was made of quality materials. However, there is a drawback in rushing the process. The gigantic house was not proportional to the small backyard. For this reason, a high asking price is not worthy to be placed for the estate. Yet, this has not been a hindrance in selling the property. It was still sold at an astounding price comparable to that of a double lot house. Plus, the house was sold after a couple of days only!
Based from the statistics of a particular real estate company, it is unusual for high-end houses to be purchased that quickly. In the real estate market, houses worth more than $5 million, on the average, are very challenging to sell. As prices escalate, the number of interested buyers drops. In the special case of many celebrity homes, they are still sold for a shorter period even at very high asking prices. This includes the case of a celebrity who sold his Forest Hill mansion for $5.7 million in just eleven days!
Generally, celebrity homes are easier to market that any other home. From the facts stated, we can conclude that major reason celebrity homes are easier to market is that they are already known by many. This gives them the advantage of selling off their houses at their desired value and sometimes even higher. It is not surprising though. With people who continue to live in the idea of stardom, living in a house worthy of being called a celebrity’s former home is something fulfilling. For those who seek for style and comfort, these celebrity homes are also commendable options.
Nevertheless, paying more for these homes is not practical. It is still advisable to weigh the necessary factors that affect the value of the houses you plan to purchase rather than considering the owner’s fame alone. There are many comparable real estates in the market aside from celebrity homes. If you are wise enough, you would not settle for a very high asking price for something that is available at a cheaper value. However, if you are really opting to buy celebrity homes, it is best to negotiate for a reasonable price!