Descriptors such as "move in ready" and "turnkey" have long been used as selling points in real estate. Instead of delaying your relocation because your home needs some plumbing work or other essential repairs and renovations, you can simply step inside and start unpacking.

But many buyers are increasingly attracted to the exact opposite: a home where all but the barest necessities have been stripped away. Called "white boxing," it has become especially popular with luxury homes.

White boxing is essentially the direct opposite of staging. Rather than bringing in furniture and other touches to show how the home can be arranged, the property is opened up to as much customization as possible. Even some items that would traditionally stay put—such as appliances, kitchen cabinets, and sink faucets—are removed.

Naturally, some critical components of the residence remain in place. Construction DesignWorks, a general contractor based in Shawnee, Kan., says a white boxed area includes a number of elements to ensure basic comfort and protection from the elements. These include a roof, windows, basic heating and HVAC, and lighting. The space may also be outfitted with features to meet certain code requirements, such as restrooms and fire protection.

Beyond that, the space is empty. Wall coverings, flooring materials, appliances, and paint will all be added later at the direction of the buyer. The residence may even have interior walls removed if they are not essential for keeping the home structurally sound.

White boxing can appeal to buyers who want to purchase an existing home but add as many personal touches as possible. Real estate listings for white boxed properties take advantage of this benefit. The description of a $15 million condominium in the luxury Sierra Towers development in West Hollywood describes the stripped-down unit as "a blank canvas of voluminous raw space, offering the opportunity to create a custom masterpiece in one of the most spectacular settings in the world."

Indeed, white boxing can be most beneficial when the seller is trying to draw buyers' attention to impressive views. Les Masterson, writing for Realtor.com, says the strategy also works well to showcase the potential of a home for custom renovation.

It might seem counterproductive to rip out walls, bathtubs, and other home features for a sale. However, a buyer might do that anyway if they want to replace the granite countertops with quartz ones and put in a rainfall shower. Diana Olick, writing for CNBC, says white boxing can appeal to high-end buyers by saving them the time and expense involved in the demolition phase of a renovation.

While it might seem more difficult for a buyer to picture how a property can be used if it's stripped to the studs, modern technology can be a big help. Masterson says real estate agents have developed virtual reality tours of white boxed listings, letting buyers use a tablet to get a sense of possible floor plans and layouts.

White boxing can be a drastic but effective way of solving the problem of a residence that seems outdated. Olick says the process can easily make an older home seem newer, since it will feel like a residence where construction is still in process.

For this reason, white boxing can be effective for fixer-uppers as well as high-end homes. Buyers can often be dissuaded by a home's poor condition or outdated appearance, even if it has other advantages. Masterson says white boxing can draw more attention to selling points such as the pleasant neighborhood or good school district.

White boxing can have some drawbacks as well. Buyers who are looking to move quickly will be less likely to consider such a home, since they'll need to spend a considerable amount of time renovating the space. Some people may also be reticent about the costs of rehabbing the entire residence; Construction DesignWorks says white boxing sometimes involves financial incentives to help defray the costs of this work.

Naturally, you'll also want to avoid white boxing if you expect to continue living at the residence if it fails to sell. It would be a huge headache to strip the property down to its bones, only to have to put it back together again.