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These are the top features on luxury home buyers’ wish lists this year.
While the median sales price for luxury homes increased 4,7% annually in the fourth quarter of 2018, a few things remained constant: the types of features and trends associated with luxury homes.
Los Angeles-based Redfin agent Alec Traub says money can buy you a lot of things and in luxury homes.
The higher the selling price, the more features buyers expect, and that desire increases, he said.
If you’re looking to buy or sell a luxury home in 2019 and just love daydreaming about them, here are the features and trends worth watching this year.
1. Privacy
When you accept high payments for a luxurious, lavish house, you demand more privacy. If you buy a $5 million home, you don’t want to run into neighbors or have someone walk up to your front door. People want gates, walls and fences, but they have to be aesthetically pleasing, no big chain link fences, especially certain places, where you have a lot of celebrities, also add another layer.
Often the rich will prioritize choosing real estate located in the Compound area with cameras, 24/7 security, or choosing a Penthouse or duplex apartment with a private elevator lobby.
2. Smart Security
In addition to privacy factors, there are also security factors. Nowadays, some higher level apartments or Villas allow you to remotely control everything from lights, swimming pools, air conditioning and security cameras and even elevators from your iPad or phone. It’s something that’s almost expected. Instead of, ‘that would be great,’ it became, need to have it.
We also see super high-tech safes stored in cabinets for valuables like jewelry, watches or expensive wallets. Or they can be displayed in such a way that you can just open a drawer and grab something. You have to open your dresser drawers like you unlock your phone.
3. If it is a Villa, it needs a smaller swimming pool
In the past, everyone wanted their house to have a large and majestic swimming pool, but nowadays, no one really wants a large pool that takes up the entire backyard. Instead, customers are looking for properties with smaller plunge pools that are almost jacuzzis. While houses have been built larger and take up more space, swimming pools are still wanted by a few people but need a small pool that doesn’t take up too much space.
4. Rooms for beautiful ladies and maids must be luxurious
Currently, high-class customers prioritize choosing real estate that has additional rooms for beautiful women that must be spacious and luxurious. It doesn’t have to be detached, it could be downstairs in the garage, or a bedroom with private bathroom could be used for one person to live in. It could be a nanny or maid, or friends or family visiting. The client wanted more space, as well as rooms that could be home offices, as well as a gym.
5. Premium Design
Nowadays, many high-end customers choose interior products imported from Italy or Spain, etc. In the kitchen, an obvious design choice is still Ceasarstone or quartz over granite, but Also high-end equipment. A $5 million home should have a Kitchenaid or GE. Not because it’s ugly, but because it’s no longer suitable for a luxury home. Similarly, if there are sliding doors, the customer will want them to be recessed into the wall. Those are the types of touches expected in a luxury home.
6. The power of “couple”
Many luxury homes of the upper class show two trends. It’s no longer one stove and oven, now it’s two stoves, two ovens, two dishwashers, two washer and dryer sets, and all the high-end, designer brands. Luxury means never waiting. Many houses are designed with two kitchens next to each other, one kitchen is used for cooking smelly dishes and is often a closed kitchen, and one is an open kitchen connected to the dining room.
7. Strong personalization
The problem with ultra-luxury homes is that features may be too customizable to suit individual needs. I’ve seen homes where a musician has designed a private recording studio or a grand movie theater, or a private bar in the basement. Those are the things that attract people, and as a result, can negatively impact the resale of the home.
