The Gold Coast, tucked away within the vibrant city of Chicago, is an exquisite and prosperous neighborhood that boasts exceptional restaurants, select boutiques, and spectacular views of the magnificent Lake Michigan.
To effectively market a high-end residence in this area, it is essential to leverage style and marketing expertise to differentiate the property from the rest of the competition. Read on for staging tips for the exclusive luxury market of the Gold Coast.
Lifestyle
With luxury properties, selling the lifestyle, not just the home, is essential. Buyers want to feel something. Create vignettes to paint a picture of what life could be like for them if they owned the property. Stage a cozy reading nook with fluffy pillows, a soft throw, and an open book on a sofa or chair.
Bring attention to whatever makes the home unique. For instance, if the terrace overlooks a fantastic view, add furniture pieces that are both stylish and comfortable to showcase the area and make it more inviting. If the home has a view but no outdoor space, draw attention to the wall with the window displaying the view so buyers will take notice.
Focus staging on the main areas of the home, such as the living room, kitchen, and master bed and bath. Every main bedroom should feel like an oasis. It should be a serene place where the homeowner can find rest. Every main bathroom should look and feel like a spa. Amenities like a luxurious soaking tub and a rainwater shower are customary for the room. Stage it with scented soaps, candles, fluffy towels, and a lavish robe as if the room is prepared and awaiting the owner.
Bring attention to whatever makes the home unique. For instance, if the terrace overlooks a fantastic view, add furniture pieces that are both stylish and comfortable to showcase the area and make it more inviting. If the home has a view but no outdoor space, draw attention to the wall with the window displaying the view so buyers will take notice.
Focus staging on the main areas of the home, such as the living room, kitchen, and master bed and bath. Every main bedroom should feel like an oasis. It should be a serene place where the homeowner can find rest. Every main bathroom should look and feel like a spa. Amenities like a luxurious soaking tub and a rainwater shower are customary for the room. Stage it with scented soaps, candles, fluffy towels, and a lavish robe as if the room is prepared and awaiting the owner.
Mirror
Let the interior mirror the exterior. It is confusing for a buyer to see one style on the outside of the home and something completely different on the inside. For instance, if the house is Mediterranean style but ultra modern inside.
The interior design of a home does not have to be the same style as the architecture, but it should not be so different that it clashes and makes no sense. Have a few accessories or colors that acknowledge and complement the architectural style instead of ignoring it altogether.
Mirroring also involves the outdoor landscape. Bring in some of the colors and elements surrounding the home. In the country, use rich jewel tones mimicking the vibrant colors of nature. In the city, neon artwork is a big hit.
The interior design of a home does not have to be the same style as the architecture, but it should not be so different that it clashes and makes no sense. Have a few accessories or colors that acknowledge and complement the architectural style instead of ignoring it altogether.
Mirroring also involves the outdoor landscape. Bring in some of the colors and elements surrounding the home. In the country, use rich jewel tones mimicking the vibrant colors of nature. In the city, neon artwork is a big hit.
Think eco and smart
Sustainable materials that show a thoughtful ecological mindset are essential for the elite class. Using reclaimed wood, radiant flooring, energy-efficient appliances, and anything solar shows respect for the natural world around us and an attempt to maintain balance.
Smart features that can be controlled by the touch of a button or phone app offer convenience and save time. Today, thermostats, electronics, lighting, window shades, and more can all be controlled remotely. Even a smartphone can monitor and activate security details such as door locks, security shutters, and camera systems. Highlight these upgrades to potential buyers.
Smart features that can be controlled by the touch of a button or phone app offer convenience and save time. Today, thermostats, electronics, lighting, window shades, and more can all be controlled remotely. Even a smartphone can monitor and activate security details such as door locks, security shutters, and camera systems. Highlight these upgrades to potential buyers.
Luxury turnkey
Make the home a turnkey property. There is a growing market for luxury turnkey properties. At one time, it was not uncommon for movie stars and jet-setters to purchase a second home in an exotic locale. These homes were impeccably decorated and already fully furnished. Everything from the furniture to the linens and artwork was included in the price of the home.
Affluent buyers are no different today. They want to avoid a lengthy design and decision-making process for a second or even a third home. It makes sense when you think about it. What is more luxurious than just opening the door and having everything done for you? It is like a giant gift-wrapped present; all you have to do is open the door and enjoy.
Affluent buyers are no different today. They want to avoid a lengthy design and decision-making process for a second or even a third home. It makes sense when you think about it. What is more luxurious than just opening the door and having everything done for you? It is like a giant gift-wrapped present; all you have to do is open the door and enjoy.
Be daring
Anyone can buy a typical house. Luxury buyers look for the extraordinary. One of the newest trends in luxury design and staging is maximalism. Instead of editing out items and any trace of the owner’s influence, maximalism dials it up to an 11.
Maximalism incorporates stripes, florals, and geometric shapes in various colors, creating a hodgepodge look. The look includes dramatic, oversized art pieces, gorgeous chandeliers, and multiple vignettes. It should tell a story like a collection curated over time.
Maximalism has a long, storied past that reaches back centuries to palaces like Versailles and others. It was a way for the wealthy to showcase their riches and the items they had collected from their journeys. It was a testament to their style and taste.
For staging purposes, maximalism is only really seen within the sphere of luxury properties because it requires about four times as many items as a stager would use during the average staging project. It is also more difficult for the stager as they have to style for an unknown person, i.e., the person that will buy the property. However, in the right market, when done correctly, this type of staging wows buyers.
Maximalism incorporates stripes, florals, and geometric shapes in various colors, creating a hodgepodge look. The look includes dramatic, oversized art pieces, gorgeous chandeliers, and multiple vignettes. It should tell a story like a collection curated over time.
Maximalism has a long, storied past that reaches back centuries to palaces like Versailles and others. It was a way for the wealthy to showcase their riches and the items they had collected from their journeys. It was a testament to their style and taste.
For staging purposes, maximalism is only really seen within the sphere of luxury properties because it requires about four times as many items as a stager would use during the average staging project. It is also more difficult for the stager as they have to style for an unknown person, i.e., the person that will buy the property. However, in the right market, when done correctly, this type of staging wows buyers.
Gold Coast market
Currently, the Gold Coast is in a buyer’s market, meaning buyers have the advantage, and sellers must work harder to make their property stand out.
The median sold price for the neighborhood was $362,391 in April 2023, up by 1.1% from the previous year. That amount considers all homes, regardless of type or square footage. Here are the median prices by bedroom count and if they rose or fell from this time last year.
The median sold price for the neighborhood was $362,391 in April 2023, up by 1.1% from the previous year. That amount considers all homes, regardless of type or square footage. Here are the median prices by bedroom count and if they rose or fell from this time last year.
- One bedroom $216,600 up 2.1%
- Two bedrooms $399,900 down 7.3%
- Three bedrooms $815,000 up 2.4%
- Four bedrooms $1.4 million down 20.8%
- Five or more bedrooms $3.5 million up 42.3%
There were 44 homes sold on the Gold Coast in April 2023. Of those, 73% were sold under the list price, 14% at the list price, and 14% over it. The average time a home was on the market before it sold was 51 days which is 42% longer than last year.
Partner with the best
Staging is just one of many strategies to bolster your home’s appeal to attract the best offer. While a home in the prestigious Gold Coast already has much going for it, homeowners need to up their game in a buyer's market.
Enter the Gillman Group, the Chicago luxury real estate experts. The group has been your trusted Gold Coast realtor for decades. They are consistently ranked in the top 1% of agents in the city, and it is easy to see why. The Gillman Group strives to help clients live their best lives. They do this by providing their clientele unmatched service and the assistance they need to achieve their real estate goals. If you have questions about staging or other real estate matters, contact the Gillman Group.
Enter the Gillman Group, the Chicago luxury real estate experts. The group has been your trusted Gold Coast realtor for decades. They are consistently ranked in the top 1% of agents in the city, and it is easy to see why. The Gillman Group strives to help clients live their best lives. They do this by providing their clientele unmatched service and the assistance they need to achieve their real estate goals. If you have questions about staging or other real estate matters, contact the Gillman Group.