When you're searching for a home on Long Island, it's easy to focus on two numbers:The purchase price and the monthly mortgage payment.But those numbers don't tell the entire story.Property taxes,
Why Turnkey Residences Will Continue to Command Top Dollar
Dated: June 13 2022
Views: 63
June 13, 2022
The luxury real estate market has been booming throughout much of the country lately and one unavoidable takeaway is that more buyers are looking for turnkey homes than ever before. For many, the advantages of moving into a property that’s already finished to the highest standards are worth paying top dollar for. Here are just a few reasons why this trend will continue for the foreseeable future.Construction and Appliance Shortages
For starters, far-ranging shortages of construction materials and home appliances make it increasingly difficult to build your dream house these days. Rather than dealing with inevitable delays and compromises throughout the process, purchasing a turnkey residence is far more desirable, even if it means having to navigate a seller’s market with short supply.
Immediacy is Everything
For today’s buyers, the ability to move in immediately is a major draw that trumps all else. Fewer people are open to the idea of taking on a long-term renovation or restoration project, meaning a home that’s in exquisite condition right now is often the first choice. With limited options available to discerning buyers, a steep price will not deter them from a property that’s move-in ready.
Worth vs. Value
One explanation for this is that it’s a classic case of worth versus value. Even when the asking price far exceeds the value of a home in normal market conditions, many high-end buyers consider it worth paying extra for a luxury property where their family can feel comfortable from the start.
Stress-Free
There’s no denying that buying a new home is already a stressful process, but even more so when you have to spend a few months redoing the kitchen or updating the bathrooms before moving in. Simply eliminating that stress is a common reason for buyers limiting their search to strictly turnkey properties.
Published with permission from RISMedia.
Charles Ferrara
Meet Charles Ferrara. Charles was born and raised in Farmingdale, NY. Having spent his life growing up on Long Island, from the local beaches, to the Hamptons, Charles is well versed in how the Isla....
Latest Blog Posts
What Actually Adds Value Before Selling a Long Island Home?If you're thinking about selling your Long Island home, one of the first questions you may have is:What should I fix or improve before I
Is Now a Bad Time to Sell a House on Long Island? What Nassau & Suffolk County Homeowners Should Know in 2026Quick Answer: Despite national headlines suggesting that this may be a difficult time
Whether you're buying your first home, preparing to sell, or simply trying to understand what's happening in today's market, one thing hasn't changed:Local knowledge matters.With so much information
OneKey® MLS required Copyright, Source of Data and Disclaimer for IDX display
Information Copyright 2026, OneKey® MLS. All Rights Reserved.
The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers' personal, non-commercial use.
The data relating to real estate for sale on this website comes in part from the
