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34 / BUILDING DIALOGUE / March 2021 ELEMENTS Interior Design Sells Designs on Profit: Furnish Properties to Sell Units Faster W hen Garrett Simon and the team at Meriwether Cos. completed the de- velopment of Transfer Telluride, a 15-unit residential development inhistoric down- town Telluride, they never would have guessed that spending $150,000 on an interior furnishings installation would open the door to an overnight sale at $250,000 over the initial asking price, but that’s exactlywhat happened. When Meriwether contacted us last fall about the interior design of LoftHouse Two, a 2,441-square-foot residential property featuring four bedrooms, five baths and a loft, it had been on the market for a full year, while all 14 of the other Transfer Telluride units in the development sold. “Margaret andher teamatRiver+Limecompletedthe installation at noon on Friday,” said Simon, a partner at Meriwether Cos. “We raised the price, showed it at 4 Friday afternoon, and were under contract Saturday morning for full askingprice. After sitting for ayear,we sold it at a higher price point within 24 hours of com- pleting the furniture installation. I’ve always known the importance of completing a project with furnish- ings, but now I am completely sold on the value of of- fering a turnkey property as an additional marketing tool that can earn significant returns if executedwell.” • Making buying easy. Furnishing properties can help developers sell them faster and at higher price points because it makes the decision-making process substantiallyeasier forprospectivebuyers, particularly those looking to purchase real estate in resort commu- nities, by solving four key problems for the buyer: • Showing them a lifestyle. In most cases, develop- ers are doing a disservice to their space and to their buyers by showing them drywall rooms. Showing a space that has been beautifully designed completes the story, showing the property’s full potential. Keep in mind, in most cases you’re selling more than just a home – you’re selling a lifestyle. This is especially true in unique settings and properties, where there are key functions to address – like coming off the mountain and into the home after a long day of activity. There’s a process to consider, and details in the furnishings help prospective buyers see themselves, their family and friends enjoying this carefully crafted space. • Removing design hurdles. It can be difficult for pro- spective buyers to envision how to use architecturally interestingoruniqueareas,whichcantrippeopleup in the purchasing process. “It was hard for people to envision how they would furnishthe loft space intheLoftHouse, andevenharder for them to envision how to get furniture up the ship’s ladder, auniquearchitectural featurebut also logistical- ly, a challenge,” said Simon. “By furnishing it for them, we removed all of those questions from the equation and insteadmade it easy for themto see themselves re- laxing in this cozy and unique space.” • Offering a turnkey residence. Selling a turnkey res- idence is a huge benefit, especially to second- or third- homeownerswhowant tospend their timeusing their newproperty, notworkingon it. By completing the fur- nishings ahead of time, you’re letting them get to the business of enjoying their new home faster, which is almost always a benefit they will value in a sales price that reflects the convenience you are offering to them. • Solvinglogistical challenges. Thelogisticsof furnish- ing a new property can be difficult, especially for buy- erswho live out of town or in another state. It’s hard to knowwhere toshopforvariouspiecesandevenharder to coordinate delivery times, installation details, and to troubleshoot any problems that arise. Hiring a design- Margaret Selzer Founder and Principal Designer, River+Lime Interior design details like the artwork and accessories in this Telluride Transfer property help developers sell a “life- style” rather than just a unit and make it easier for prospec- tive buyers to envision themselves in the space. Developer: Meriwether Cos. Architect: CCY Architects. Whitney Kamman Photography Fully furnished properties like this one in Moonlight Basin, Montana, often sell faster and at higher price point, in part be- cause buyers can get straight to the business of enjoying their new home instead of managing the logistics of furnishing it. Developer: Lone Mountain Land. Architect: CCY Architects.