Luxury buyers aren't just looking for properties with the most square footage—in fact, Gen X, millennial, and Gen Z buyers often think about luxury differently.
What are today’s luxury buyers looking for in a home?
Sustainability: Eco-design consciousness has emerged at the forefront of the luxury home market, with many buyers considering additions such as solar panels, geo-thermal heating, and energy-efficient appliances as must-haves. Using sustainably sourced materials such as bamboo and reclaimed wood are also becoming popular choices.
Privacy: Though high-end buyers seek out specific locations for their communities and culture, they also want to be able to live privately and quietly. Gated estates and security systems are highly desirable in more rural areas, whereas penthouses with exclusive access and private amenities are becoming more popular in urban areas.
Indoor-outdoor living: With many buyers seeking out nature and natural elements, it’s no surprise that the integration of seamless indoor-outdoor living is often high on the priority list of luxury buyers. Indoor-outdoor areas serve as both social gathering spaces and as a way to connect with nature.
Wellness: In the same vein, many high-end buyers are seeking homes with wellness features and prioritizing health and relaxation. Luxury features such as saunas, saltwater pools, meditation rooms, and even lighting to appeal to the body’s natural circadian rhythm are becoming more popular.
Interior design is also being reassessed in association to wellness. Designers are collaborating with experts in neuroscience to determine what designs positively influence brain function while also ensuring toxin-free materials are used.
Uniqueness: A home’s unique features also plays a part in its desirability. Some luxury buyers are undertaking renovation projects on historic properties in order to bring them into the modern era while still maintaining their historic charm.
The integration of vintage and antique furniture in home decor is also a growing trend. A mixing of cultures and styles is on the rise as a way for luxury homeowners to display their personalities and interests.
Customization: Affluent buyers aren’t looking for just another mansion, they’re looking for personalized homes that reflect their personalities and lifestyles. Statement architectural pieces, custom furniture, and multi-functional spaces are what separate a cookie-cutter mansion from a distinctive luxury home.
Technology: Of course, it should be no surprise that buyers are looking for top of the line technology in their luxury homes. This can range from things such as smart thermostats to state of the art security systems, or even full rooms such as a personal theatre room.
As priorities continue to shift in the luxury market, both established affluent buyers or those just breaking into the luxury market are thinking about their dollar differently. Sustainability, wellness, and the integration of nature have all made their way to the top of the luxury checklist, demonstrating that buyers are increasingly merging their lifestyle interests with their real estate buying habits.
