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10 Things Luxury Real Estate Buyers Obsess Over

Primary location, electronics systems and outdoor facilities – these are only a few things that luxury real estate buyers are looking for. We explore what else is important for the real estate investors when it comes to buying luxury real estate. For many well-to-do people, investing in luxury properties in the United States gives them a chance to invest their money in something that will provide a return of profit. That is why, knowing what people look for in commercial real estate is key for all investors.

Luxury real estate
There is not one single design, architecture or size that defines a luxury real estate. However, location is the factor that increases the property value, especially if it offers unobstructed views and luxury amenities, such as golf course or private basketball court. In the U.S., luxury real estate is commonly defined as property worth over $ 1 million. This price greatly depends on location, value of surrounding homes, amenities, views such as waterfronts, low crime rate, architectural or historical significance and other factors that distinguish the property as luxury.

Here we provide the list of things that luxury real estate buyers pay their attention to and are sure to obsess over:

#1. Ceiling Height

Ceiling height is one of the most important parameters of genuine luxury property. The higher, the better. Most marketing campaigns highlight tall ceilings because of one simple reason: rooms with high ceilings provide a more spacious feel even if the rooms are average in size. Usually, ceilings in luxury apartments reach about 14 feet. There is almost no such thing as luxury apartments with 8,5- foot ceilings, unless they offer unique views from the windows or outstanding architecture.

high Ceiling

 

 

In their desire for more headroom, buyers have been influenced by pictures in home design magazines of downtown lofts, some built as factories with ceilings of 12 feet or more. And they may be reacting to the low ceilings of the houses they grew up in.
Fred A. Bernstein

#2. Unobstructed Views and Light

Apartments with huge floor-to-ceiling windows which let the light in and offer unobstructed, spectacular views are the most popular among buyers. In order to maximize these views, designers start setting the walls of glass. The latest architectural trends enable owners to enjoy the views as well as connect interior and exterior spaces with wide-opening door systems. Matt Power, president of LaCantina Doors, notes that folding doors remain a “wow” feature among buyers.

Unobstracted View

 

 

 

 

The main demand we see about style is to maximize the amount of glass.

#3. Technology

Technology is another value-adding factor. Many buyers are looking for apartments that are technologically advanced with the latest gadgets. The latest survey shows that around 60% of respondents would give up area within the property in exchange for tech upgrades. Today’s technology allows you to improve home efficiency and manage everything in your home from lighting, climate, security, home theater access to complete system integration. It is possible to connect all devices and appliances in your home so that they communicate with you. With smart home technology, you can control your entire home from your smart phone or tablet. In fact, among the highest rated amenities are multizone HVAC systems, multiple phone lines, and the house energy management and security systems. Less important, but still popular are media rooms, which appear on 28 % of wish lists.
See how the future “smart home” will be look like in this video:

#4. Open Layout

The architectural trend is moving toward open-plan living and multi-functional spaces. Using the concept of space zoning, modern houses feature separate zones for cooking, relaxing, sleeping and working, representing an optimal use of space according to your lifestyle. This particularly relates to kitchen and living-room area which are usually transformed into a single multifunctional space. As the kitchen serves as a hub of daily life, it is not surprising that luxury real estate buyers are looking for a large space, providing all necessary facilities. Usually, people who own luxury apartments have a lot of friends to invite. So, maintaining separation between social and private spaces is essential. Moreover, today’s buyers try to avoid apartments with long hallways, huge columns and stairwells.

open layout

#5. Unique Architecture

Unique architecture retains value. Luxury real estate buyers want to see beautiful and practical design. Solid foundation, high-quality materials, unusual design details and artistic approach – these are the main criteria of contemporary luxury home project. High-end renters and buyers are impressed by exclusive design and eager to pay for genuine Italian tiles or French furniture.

unique arhitecture

#6. The Gym&Game Room

Gym is one of those amenities that really counts, especially in winter cities. Usually, these spaces have everything you need to be comfortable in your at-home workouts. Along with fitness facilities, the buyers look for jacuzzi, saunas, private basketball/football/golf courts, etc. A game room is also a common requirement in luxury homes. It typically includes a pool table, arcade games and karaoke stage.

Gym Room

#7. Outdoor Space

The most surprising finding of the latest survey is the strong preference for  great outdoors. It seems everyone wants to have his/her own deck or patio. Particularly, people want private outdoor space, where they can relax without the neighbors watching. Up-to-date, attractively designed outdoor space can be just as important as the interior. Some buyers are looking for large gorgeous courtyards and patios while others seek a cozy habitual outdoor space where they can stay private, have a barbecue and spend their leisure time. Outdoor kitchen and dining rooms are becoming commonplace in today’s market. It also possible to find poolside cabanas and luxury chalets in mountain communities.

Outdoor Space

#8. Green Housing

Houses and apartments with green certification is another feature the buyers are ready to pay for. Besides energy-efficiency and cost saving, green housing is a trendy thing these days. Living in green homes makes people feel great about the fact that they can help lessen their negative impact on the environment.

Green Housing

#9. Laundry&Storage

The next thing buyers are looking for is a large in-unit laundry with washers and dryers. The laundry room is disered by 93% of buyers, and 57% consider it essential, and are unlikely to buy a home without it. Buyers also want to have a large, well-equipped functional storage to store bikes, sports equipment, or gardening tools, etc.

storage

#10 Sense of Privacy&Security

High-income tenants value their privacy. Whether we talk about urban living, coastal or countryside locations, luxury real estate buyers are showing an increasing preference for private villas and homes of their own. Furthermore, luxury real estate tenants want to have the assurance that their property and families are safe. The genuine luxury home project should provide human security as well as advanced electronic surveillance.

Home Security

Takeaways

If you are considering investing in luxury real estate, expecting the lasting value, you shouldn’t compromise of any of these 10 hallmarks. When it comes to buying luxury real estate for investment, there should be 100% due diligence and multiple check.

 

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