Luxury homeowners and buyers today are more knowledgeable and more confident than before. They know what they want have the resources and know how to get it, letting them transform luxury living spaces into extremely comfortable homes, and are very high tech.
"Formal , museum-like spaces have given way to functional, warm gathering places where family and friends get together. Square footage as a status symbol has been replaced by a gravitation toward smart, efficient, amenity-rich home, according to Sherry Chris, president and CEO of Better Homes and Gardens Real Estate LLC. Today's luxury home buyers have a different set of priorities of previous luxury buyers. The days of overwhelming amounts square footage that meant a dream home are gone, now these upscale buyers seek multiple homes to fit their lifestyle needs and extra amenities, with a desire for high tech features.
These luxury customers are considered trendsetters, and see the strong connection this consumer has with their "home" is very significant as they look at the real estate market as a whole, says Chris. These home buyers have high standards and will invest the money, the time and the commitment to making their home fit their needs and reflect who they are.
Better Homes and Gardens® Real Estate released national survey findings from 500 luxury home buyers showing the value these consumers see in home ownership. Findings indicate that 75% of luxury home buyers believe home ownership is a more sound investment than the stock market and 57% of employed luxury homeowners believe home ownership is a bigger indicator of success than their job or title.
Other findings from Better Homes and Gardens Real Estate survey are:
Multiple Properties and Lifestyles: As the real estate market is getting stronger, luxury buyers appear confident. Investing in more than one home has also become popular in today’s luxury market. Many find it necessary to own multiple homes to support their lifestyle activities.
Extraordinary Lifestyles Meet Fabulous Amenities: Bigger isn’t necessarily more luxurious. In fact, most would rather have as many upgrades as they can afford in their home, rather than more square footage. Many luxury homebuyers would be willing to give up 1,000 square feet of living space in order to get a lifestyle amenity they prefer, such as; living in a better neighborhood, living in a comfortable house with their own taste.
Wired for Luxury: These homebuyers said they want a smart high tech house and would not consider living in a home that isn’t tech-friendly. Some of these features are Wi-Fi enabled thermostats, refrigerators, door locks, entertainment systems, lighting controls and security systems. They want to be able to entertain more easily, make the most of their family time and have peace of mind.
If you would like information on your local real estate market, or are first time home buyer not working with a Realtor and would like to schedule a consultation with a qualified Oakland County and Macomb County Realtor, please complete the Lang Premier Properties contact form to have a real estate agent contact you.
Lang Premier Properties are Birmingham Realtors specializing in Oakland County Real Estate. Stephanie is an agent with Max Broock in Birmingham, Michigan. See what past clients have to say about Stephanie Lang. Lang Premier Properties looks out for your best interests when you purchase a new custom luxury home. We always recommend working with an experienced luxury real estate agent when buying a new luxury estate. you would like information on homes for sale, or are first time home buyer not working with a Realtor and would like to schedule a consultation with a qualified Oakland County and Macomb County Realtor, please complete the Lang Premier Properties contact form to have a real estate agent contact you.