Luxury home buyers’ tastes are constantly evolving. As the luxury home market continues to regain its footing despite the pandemic, many sellers and investors are transforming their properties to meet the demands of this niche market.
Installing marble countertops in the kitchen, having a home gym, or showing off features like chandeliers in the foyer are no longer enough to stand out in this market. Here are some of the most in-demand features buyers look for when in the market for luxury homes.
The home as sustainable sanctuary
The heyday of the ostentatious yet generic McMansions are over. These days, luxury home buyers are more interested in turning in luxury homes with more manageable square footage, multi-purpose and functional rooms, and spaces that seamlessly integrate natural elements with cutting-edge technology.
More and more luxury buyers are thinking of homes that give them the feeling of having a personal sanctuary, a place where they can recharge and pursue their personal passions. It’s one of the reasons why smooth indoor-to-outdoor transitions are highly coveted home features.
Many luxury home buyers these days are now also conscious about being environmentally mindful. It’s for this reason that many “green developments” are all the rage. For example, energy-producing roofs are very much in-demand to the point that it can drive the value of a home. Energy-efficiency, as well as air and water flow, become top wellness considerations for many affluent clients.
When technology is experiential
A lot of luxury home buyers nowadays want smart-home technology not only for convenience but also to enhance living experience.
These days, smart homes have evolved past being voice-activated lighting. Home automation means more than simple upgrades. Home security systems are no longer just CCTV cameras and sensors– they have been deeply integrated into the home alongside features like ambient lighting control and media and entertainment components. These systems can also be controlled remotely.
Buyers are likely to inquire about upgrades such as docking stations for electric cars, lifts or elevators inside the home, and showers that may be programmed to specific temperatures.
Spaces that support a specific lifestyle
The luxury home that tends to attract more buyers is one that presents an enticing story, a certain level and flavor of luxe that the buyer can enjoy if they decide to buy it and live in it. And so, the elements found inside the home, including the design, amenities, and upgrades, should support that dream and lifestyle.
Entertainment spaces such as outdoor pools, patios, and kitchens that could rival any professional test kitchen become highly coveted features of a luxury home. These spaces entail certain specializations and exclusive interests. Wine cellars make a home very special as it affords inclusion and expansion of a specialized hobby.
Modern design touches and multi-purpose spaces
Well-thought-out, multi-purpose spaces strike a chord with younger luxury home buyers.
For example, a dining room that can be easily and stylishly transformed into a conference room for working lunches. Another great example is a living area where they can turn into a movie theater with a switch of a button or another work area with simple rearrangements. These spaces make certain luxury homes very attractive and may just be the thing that distinguishes itself from others in the market.
Style becomes a larger consideration with luxury home buyers. These are clients who have discerning taste and will appreciate cultural as well as design references in their home. Soft finishes and clean lines, new builds, and modern interiors are eye-catching to them. When your home speaks their design language, it’s more likely for them to be more interested in the space.
The turnkey factor
Wealthy home buyers are turning their attention to luxury homes that are ready to move into. The less work or major renovations needed for the home, the better.
Look into installing brand-new fixtures and features to increase your luxury property’s turnkey factor. You can also invite a licensed inspector to look at the home and let you know what needs to be repaired or upgraded.
Wellness amenities are not excluded from what makes a home have that turnkey factor. These days, affluent clients are looking for more holistic approaches to wellness. This can come in the form of an in-house gym, a yoga studio, or spa bathrooms. A home that promotes this type of lifestyle becomes sought-after. Thoughtful amenities for children and pets are also a plus.
If you’re interested in luxury homes for sale in Williamsburg, VA, you can reach out to our team at Coldwell Banker Traditions. Get in touch with us by calling 757.229.9595 or sending an email to info(at)cbtraditions(dotted)com.