Luxury Homes In Dover NH
What comes to mind when thinking about luxury homes? A home by the sea? By the lake? How about the top of a mountain? What about the ambience of the home itself? The neighborhood? What about luxury verses value?
What Makes A Good Value?
I don’t like using a square footage value and here’s why. I have been a building and remodeling contractor since 1988 and got my real estate license in 2007. When looking at the square foot cost ratios, one should look at the actual costs per room. This perspective takes into account that bedrooms may cost $50-$100 per sqft verses a kitchen or bath that could run $400-$10,000 per sqft. This begs the question, what am I getting for $X per sqft? Luxury is in the eye of the beholder and sometimes value isn’t in the equation. However, real value is subject to thoughtful design and location is paramount. A beautiful home next to a mobile home park isn’t going to have the same value as one in an executive or exclusive neighborhood. I have worked with sellers who feel their home is like the Taj with the improvements and amenities they have added but it’s nestled in a neighborhood of homes whose values aren’t even close to what the owners have into it. Maybe it’s a mansion with the best of the best but its way out of town atop a mountain with a 1,000 foot driveway that looks like a launch ramp for Evel Knievel. Buyer’s perceived value has nothing to do with how much a seller has into the home.
Nothing Against Portsmouth…but
As an agent who works the trenches around Dover NH which is one of the most desirable and affordable areas on the eastern seaboard and also in Portsmouth, I have to say Portsmouth can’t offer luxury like Dover can. The perceptions of values are as different as the indivuals. There are some folks that just have to be in the thick of it and walking distance to downtown Portsmouth and are willing to pay the price. There are those who will see Dover has a great community of it’s own and will drive five minutes over the Piscataqua bridge if they desire something in Portsmouth. Let’s see how affordability measures up in Portsmouth verses Dover. Here’s a look at the last eight single family home sales since March 30, 2017 in => Portsmouth over 600K and compare them to the last eight sales in => Dover over $600K. These Portsmouth homes totaled $5,564,90 representing 17,756 sqft. averging $343 per sqft. Dover’s sales were $6,606,900 with 31,135 sqft. averaging $213 per sqft.