Luxury Buyers Want Smaller High Tech Homes

  According to a recent survey conducted by Better Homes and Gardens® Real Estate, today's luxury homeowners and buyers are smarter and more confident about investing in luxury properties than ever.

  High net worth individuals know what they want and have the resources and capabilities to get it, allowing them to transform luxury living spaces into ultra-comfortable, high-tech homes.  Properties consisting of vast amounts of square footage no longer equate to their idea of the ultimate dream home.  Today’s affluent consumer now has a desire for multiple homes to fit their lifestyle needs with an emphasis on high-tech features and amenities.  Having sold several million dollar plus properties in our market, I know from personal experience that many buyers find homes of 6,000 and 7,000 square feet plus, are simply too large. 

  Whether the concern is about the size of their carbon footprint or that a smaller property is easier to maintain especially if they own several homes, less square footage combined with high tech features is the order of the day.  Further findings in the survey also found that 75% of luxury home buyers believe home ownership is a more sound investment than the stock market while 57% percent of employed luxury homeowners believe that luxury home ownership is more indicative of their success than either their job or title.

  The mechanics of buying and selling of luxury real estate does not differ to any significant degree than buying a home, condo or cottage at the mid or lower price range of any given market.  Today’s consumer and relying heavily on the Internet to locate a property and more importantly a REALTOR® they can trust and work with.  However, information gathered as part of the Better Homes and Gardens survey reflected that 96% of luxury home buyers are depending on their REALTOR® more than ever before to provide relevant information such as market trends and neighbourhood data that will help guide them through the purchasing process.  This is ultimately why I am writing this blog on luxury home owenrship.