What Is Included In A Fully Furnished Crested Butte Home?
I am often asked what “Fully Furnished” means. “What’s included? What’s excluded?”
It really just depends. That’s why defining this early on is better than later for everyone that is involved. So, what is included in a fully furnished Crested Butte home?
Fully Furnished Crested Butte Homes
Second homes in Crested Butte are typically sold “Fully Furnished”
- The Seller does not have a use for the furniture or furnishings in another home
(Most second homeowners who are Sellers in Crested Butte are not moving to another “mountain home”)
- There is little or no value to the Seller for the furniture and furnishings – it may actually cost the seller money to move it and sell it.
- Most Sellers are in another state and don’t want to come to Crested Butte to collect a bunch of stuff they are never going to use again.
- If there is little or no value for the furniture and furnishings and the inclusion of these items makes it easy for a Buyer, it may provide an attractive offering compared to other listings. It’s then wise for the Seller to include the furniture and furnishings as a part of the Listing.
Types Of Furnishings That May Be Questioned
In general if it is affixed to the home then it is a fixture (Stove, Range Top, Built-in Microwave, Dishwasher). If it is not affixed then it may not be included. (Washer and Dryer, Refrigerator, 60″ Flat Screen TV, etc.) It’s best to list what items are included.
Decor, Random Stuff:
What about Pots and pans? Do the snow shovels stay? What does “all electronics” mean? Artwork? Outdoor furniture? Window Coverings? These are all good questions. They will need an answer which typically comes in the form of an Exclusion List (the items that do not go with the house) or an Inclusion List (the items that do go with the house). Which one to use – a good rule of thumb is whichever list is smaller.
What Is Included In A Fully Furnished Crested Butte Home? – What To Look Out For
In Metro Real Estate markets it is common for homes to be “staged” because homes that are nicely decorated provide a good look and feel for Buyers. It is very unusual in the Crested Butte Real Estate Market for a home to be staged. There are no local companies that provide this service (some of the furniture stores in the area may have excess inventory and will provide the furniture and furnishings to be installed – and sold with the home for a price). Many second homeowners who are selling their home furnished and have items they Exclude, want to keep them in the home so that when they visit they have the benefit of those items. This is understandable – and also problematic. Most Buyers will notice the painting of the Crested Butte landscape painted by renowned local artist Shaun Horn that is hung above the fireplace. They will write an offer with the condition that the Shaun Horn painting WILL be Included. When emotion enters the negotiations there is usually problems. It is better to define up front what is included or excluded so the problem is avoided – or it is Best to REMOVE the item altogether from the home.
A buyer cannot want something they cannot see.
How much does it cost to furnish a home in Crested Butte?
This really depends on:
- The tastes of the homeowner
- Size of the home
- Value of the items when purchased
- Whether you are only adding furniture and furnishings
- If you’re painting (faux finish)
- Adding window coverings
- Changing out lighting
- Replacing carpet or adding hardwood floors
- Replacing bathroom Fixtures or fully remodeling bathrooms
Many second homeowners and many owners of Luxury Homes in Crested Butte will seek the help of local interior design shops. They can usually help with the look and feel of the home and turning a house into a true Crested Butte Mountain Home. Look no further than downtown Crested Butte to find some very qualified help at either Ansley Interiors or Interior Visions.
What about Lenders?
Lenders do not want to loan money for the purchase of furniture and furnishings. They want to loan money to Buyers to buy tangible Real Estate right? Those items that can be removed easily from the home may be removed. If a bank has to take a property back it’s important that the value of the loan is representative of the value of the real estate. In the 2011 – 2012 timeframe we had 43% of our real estate transactions here in Crested Butte that were either foreclosures or short-sales and banks were very much involved. It is best to ensure that the Contract to Buy and Sell specifically excludes the furniture and furnishings from the contract and these items will be purchased via a bill of sale outside of closing – and/or the contract states that any items left in the home have $0 value.
Some Sellers will remember that they spent $100,000 to furnish their second home 10 years ago and they will hope to get their money back. In reality they will not. Is a leather couch purchased 10 years ago at a cost of $10,000 still worth that today? No. There is no secondary market here in the Crested Butte area for the Seller to sell their furniture. Most Buyers won’t like the furniture that’s in the second home and they will put very little value on the furniture and furnishings. The response is typically “well, it will work until we figure out what we want to replace it with”. The reality is there is some value to the Buyer because if the home has furniture and furnishings, then the Buyer does not have out of pocket costs for these items.
Details are very important. I pride myself on helping clients and protecting their interests. It’s easy to forget items that were in the home that were keepsakes or family heirlooms. Most times the Buyer could care less about a specific item, but better to be safe than sorry. It is not uncommon for me to help inventory and photograph every item that is on the list to ensure there is no mistakes made. It’s best to define the terms of any real estate property for sale up front and to be as detailed as possible when negotiating terms in a Contract to Buy and Sell Real Estate in the Crested Butte area.
How can I help you?
I have over 30 years of business experience and am a top real estate agent in the mountain town of Crested Butte, Colorado representing affluent clients who are buying and selling their homes and properties. To see featured properties or search the MLS – visit chriskopf.com.
Are You Considering Buying or Selling a Home in the Crested Butte Area?
Contact me to help you. I have been in your shoes – as both a Second Home Buyer and Seller here in Crested Butte.
The Crested Butte area offers a wide variety of properties including ski in/ski out single family homes, ski-in/ski-out condominiums, lake and river frontage properties, golf course property, quality homes in Downtown Crested Butte, and true fine mountain homes on acreage.
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