Sponsored: Real Estate Confidential: What exactly is turnkey?

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Real Estate Confidential is a bi-weekly chit-chat about new listings, sales, or other insider info on the Martha’s Vineyard Real Estate market, presented by Fred Roven, owner/broker of Martha’s Vineyard Buyer Agents. It appears every other Friday in The Minute.

Furnished! You buy a home and (with some exceptions) do not spend long hours on the exhausting task of furnishing your new home. Homes do not come with many of the seller’s personal possessions so do not expect the 1953 Corvette to remain in the garage. And, please, getting in a disagreement over whether that family heirloom framed original is a personal possession; same for that $9.99 lamp.

There certainly are advantages for the seller especially on an island. Selling a home furnished can shorten the time to sell. In the current market, many buyers are moving here for year-round living and speed to make that house a home is important. In negotiating the price there are many factors to consider. If a seller is moving off-Island, the cost of moving furniture may be more than its value.

A buyer can expect up to a 30% markup on a newly staged house and you may want to pay the increased cost because, ultimately, you’re paying for the furniture but also the lack of headaches. Sometimes in a new construction, a designer has created pieces that are perfect for this house. 

Dated furniture is a bit complicated and may not have significant value to the buyer or seller. Buyer because they want a fresh new look and the seller may not want that added moving cost. Neither of you want to pay $15-$40 to dispose of an old mattress. Remember to consider the value of existing furniture to you and the seller and negotiate accordingly.

A suggestion from 25 years of negotiating the sale of furnished homes: Look at the importance of any one piece to the other side and take a breath. The following and others at Furnished turn-key homes may be available furnished, partially furnished or furniture available.

14 Puwal Lane was newly constructed in 2019 and is being offered fully furnished as a true turn-key. The home comes complete with two games rooms, two laundry areas, and an outdoor entertaining area that sports a 60 ft. mahogany deck shaded by a 24 ft. red  cedar pergola, an 18 x 36 ft. saltwater pool with a built-in hot tub, a large gas fire pit, all surrounded by a custom bluestone patio. The home is offered fully furnished with a decorator’s flair.

53 Pinehurst is a three-year-old custom-designed home with three floors of living spaces, fine finishes and details. The home has large sliding doors that lead to the mahogany deck and landscaped, fenced rear yard. A fourth bedroom suite on the third floor is designed as a private wing; you will enjoy the open loft space as a home office, reading nook, or additional sleeping space. This emerging neighborhood is conveniently located close to town, shopping, the library, elementary school, Morning Glory Farm and the bike path, and provides a lower price than downtown homes.

8 Oyster Pond has a dramatic contemporary farmhouse which offers an abundance of light and views across the seven plus acres of pristine meadows and lush treetops. Complementing the property with its spectacular vistas is a large in-ground pool, attached garage with second floor office/artist’s studio, private tennis courts, and a 6-stall horse stable perfectly nestled at the far side of the property. It’s located within the exclusive Oyster Pond Association offering pond and beach access.

348 Seaview Avenue is a private waterfront compound in Harthaven and includes 150 feet of private beach. Perched high on a bluff with 180-degree views of Nantucket Sound and beyond, this property offers a rare opportunity for a waterfront family compound or an investor’s dream with a private beach. The three homes that make-up this unique 13-bedroom property were updated in 1996. The craftsmen that created this home gave extra attention to the wood details throughout and made the house worthy of the finest sea “captain.” All three homes have been created to be independent of each other and all feature air conditioning, outdoor showers, and more. Sellers would consider a full “turn-key” option. 

Click here for a list of furnished turn-key homes.

For more Real Estate Confidentials, click here.