THE ART OF RESALE
Your home is one of the largest investments you’ll make in your lifetime! With home prices on the rise, and so many homeowners looking to add value to their investments, many are realizing the critical role a thoughtfully designed closet has in the home! Whether you’re looking to sell, or simply want to be smarter about the design choices you make today that may impact future resale, today I am looking to a few real estate and industry experts for their guidance in this unique market, and insight into the trends that are driving buyers’ decisions when it comes to custom closets.
What kinds of closets are you seeing buyers gravitate toward most often? Style, color, materials?
“I’m noticing that light and bright are in demand for the ladies, and men still want masculine and rich woods… but not too dark. Men appreciate drawers with space to separate timepieces, ties, cuff links, etc. Ladies still love to admire what’s in their closet with glass displays. Lots of room for shoes and bags.I’ve noticed that seating is important, usually for two. Glam rooms are becoming more popular and not a small space. Enough for a team of make-up and hair to work. Cheap looking finishes do not do a boutique closet justice. The closet is second to the kitchen for hanging with the “girls”.”
Traci Fellows // Fellows Luxury Group // @fellowsluxurygroup
How important is it for most of your buyers to have separate HIS and HER spaces?
“Very important. Men are feeling a bit slighted…having access to a much smaller closet and even being off the bathroom in a corner is disappointing. More thought needs to considered, as the C-Level executive and higher needs more space for suits and accessories, and the millennial clientele wants to see their sneaker collection. In some cases a room just for them!”
Traci Fellows // Fellows Luxury Group // @fellowsluxurygroup
“In the ultra-high-end homes, there are almost always separate master closets. It’s a must. The bigger the better. The more custom the better.”
Rochelle Maize // @rochellemaizeluxuryestates
Are there any specific gadgets or closet features you see clients looking out for?
“Gadgets to hang ties, and belts are still in but would prefer a sleek 007 set up. Men like an experience when selecting timepieces, cuff links, etc. A thoughtful sophisticated design fits the elevated man. The millennial really wants the secret compartments and maybe even a hidden safe and a small bar. More time is being spent in the closet. It needs to be an experience.”
Traci Fellows // Fellows Luxury Group // @fellowsluxurygroup
Do you see client’s being more often attracted to the functional aspects of a closet in a potential home, or the “wow” factor / aesthetics of the space?
“The wow factor wins. It needs to look expensive, sophisticated , one of a kind. Extensive space for suits and shirts. Function is important but WOW is essential. Lighting and a sound system is a nice touch.”
Traci Fellows // Fellows Luxury Group // @fellowsluxurygroup
“A great closet is more than just a storage space – it’s your own private cornerstone where you begin your day. Clothing and accessories say a lot about who you are, so it makes sense that closets are taking such a major role in the minds of home buyers. It inspires us and with the right organization, they save us lots of time. As more people spent time at home during Covid, the luxury walk-in closet gained even more popularity.”
Rochelle Maize // @rochellemaizeluxuryestates
How important is a good closet(s) in appealing to a potential buyer? Is it only the master closet that has an impact?
“The primary closet is crucial, but it needs to be in an accessible area. Some custom homes build closets to their very-specific needs for a specific lifestyle, while for resale this may not be a positive. I previewed a $20 million dollar celebrity home with a hike up 20 stairs just to get to the closet. Can you imagine not having help and having to go up and down the stairs several times? That won’t work for most buyers and when they see this, they start with negative thoughts instead of positive.”
Traci Fellows // Fellows Luxury Group // @fellowsluxurygroup
How do closets create added value in a home?
“It is about selling a lifestyle in an Instagram world. With designer-done luxury closets…You are definitely selling a lifestyle and everything that goes along with it. These new luxury closets come stocked with: TVs, home office, jewelry vaults, vanities, cosmetic refrigerators, coffee makers, jewelry drawers, living rooms, offices and of course dressing rooms.”
Rochelle Maize // @rochellemaizeluxuryestates
“As fashion has become so important across all demographics, the desire to elevate the home for such collections becomes much more important.”
Mauricio Oberfeld // Dugally Oberfeld // @dugallyoberfeld
What is the biggest change you’re seeing in closets in new homes?
“2 important changes: 1. Sectioned areas of closets, especially for women, where the clothes, shoes and bags each have their separate sections. 2. Security. People want to have their beautiful things accessible but secure with electronic locking systems.”
Mauricio Oberfeld // Dugally Oberfeld // @dugallyoberfeld
How much do you think a good closet impacts resale value?
“A good closet definitely impacts resale value. A great closet could generate maybe 25% more interest in a home. Buyers really tend to have a hard time imagining a space’s potential, so when a great closet is already installed, it’s one less challenge a buyer has to think about when purchasing a home. A closet can never be too big.”
Rochelle Maize // @rochellemaizeluxuryestates
