Luxury Home Market: 6 Features that Make the Sale

by Chuck Roper 24. July 2019 09:22

The 2019 St. Louis luxury home market is on pace to become the decades best year. In fact, the most recent Luxury Real Estate Report by Luxury Portfolio International (LPI) on what matters most to luxury buyers reveals that residential buying interest among North America’s elite remains high—with 30 percent of affluent buyers considering a purchase in the next three years. When it comes to price, 44 percent say they plan on spending up to $1.49 million.


What is it that takes affluent buyers from consideration to an actual luxury home purchase? We combined our expert knowledge of the luxury real estate market and findings from the LPI report to narrow down the top six features that make the sale. 

1. The Physical Space

When it comes to the most important thing affluent buyers look at when making an investment, it all boils down to the physical space. More specifically, the location (ranked at 53 percent), the community (ranked at 51 percent) and the layout (ranked at 50 percent) of the home. 


[Ellen Kurtz Interiors]


[Janet McAfee Luxury Listing]

2. Traditional and Contemporary Architecture and Style

Traditional and contemporary homes were ranked as the top two styles. Timeless, European-inspired structures bring a classic elegance that buyers can’t resist. Yet soft, neutral elements mesh the new with the old in a contemporary style that also attracts affluent buyers. 


Traditional

[Janet McAfee Luxury Listing]


[Janet McAfee Luxury Listing]


Contemporary

[Janet McAfee Luxury Listing]


         

[Marcia Moore Design, Suzy Gorman Photography]                [Marcia Moore Design]

3. Health and Wellness Rooms  

Luxury buyers are increasingly looking for amenities that allow them to incorporate their health and wellness lifestyles into the home—be it in-home gyms for a quick workout, saunas to sweat out the day’s toxins or biophilic designs for tranquility. The Miami-based Global Wellness Institute found that the number of wellness-oriented properties has grown by 6.4 percent annually since 2015; it’s projected to be a $180 billion industry by 2022. 


[Janet McAfee Luxury Listing]


[S&K Interiors]


[Janet McAfee Luxury Listing]

4. Privacy and Security 

The higher the price, the more privacy the buyers expect. They want to feel safe, comfortable, and secure in their homes without distractions from neighbors. Tree-lined yards, aesthetically pleasing gates and integrated smart security systems are all of value. 


[Luxury Portfolio International Listing by Hilton & Hyland]


[Janet McAfee Luxury Listing]


5. Eco-Friendly Installations 

Green is the new black! Recent innovations have shown that homes can not only be eco-friendly, but also opulent, sleek and desirable. Solar panels to increase passive energy, LED lighting for improved efficiency and sustainably sourced materials to reduce the carbon footprint are all top installations affluent buyers desire. 


[Luxury Portfolio International Listing by Bahamas Realty Limited]


[S&K Interiors]


6. Smart Home Tech 

Smart home tech has seen a tremendous rise over the last few years. According to Business Insider, Millennial buyers especially love being able to control home features like thermostats, lighting and appliances at the touch of their mobile devices. 





Keeping a pulse on market trends and elite buyers’ must-haves allows you to make informed recommendations to the seller on features that will deliver a quick sale. 


What luxury features do your affluent buyers always look for? Comment below!

Today's Affluent Home Buyer

by Chuck Roper 24. September 2018 05:04

The high end home buyer today is savvier when it comes to luxury brands, more discriminating when it comes to amenities and has more choices than ever before.   More than ever, the affluent consumer has access to an abundance of goods and services in all aspects of their lives.  Choosing a home is no exception.

 

Luxury Portfolio International, a leading opinion leader of all things luxury, has taken a deep dive into the mindset of the millionaire homebuyer.  Today’s luxury buyer wants pristine, new condition.  Only 5% are looking to renovate completely; 15% will consider buying an older home completely renovated.  55% want privacy and energy efficiency/environmental design.  Luxury buyers want a master bedroom with a luxurious bathroom (54%), walk in closets (51%), outdoor living/entertaining (49%) and an open floor plan (49%).

 

Janet McAfee is the exclusive St. Louis member of Luxury Portfolio International. 

6 Luxury Home Must-Haves for 2018

by Chuck Roper 12. September 2018 04:02

 

 

You own a beautiful homenow, how can you make it better? Luxury homeowners all over the globe are adding amenities to their houses that increase the resale value and give homeowners an even more luxurious quality of life. Consider some of these gorgeous (sometimes unusual!) improvements to your home:

 

 

 

1. Dog Shower


Dog showers are becoming popular design features in many luxury homes. Architect William Harrison reports that he’s been asked to design dog showers for many clients. These are often designed for large dog breeds, who have difficulty bathing in a traditionally-sized bathtub. Dog showers are low to the ground, designed with extra-tough, dirt- and wear-resistant tiles and shower heads with long flexible hoses. These custom showers leave both owner and pooch happy!


2. Bathroom Fireplace


A hot bath is the perfect way to relax after a long day. The only thing that could make the experience more relaxing would be a crackling fireplace. This trend has taken over luxury homes, with many owners choosing to improve their properties with a bathroom fireplace. A luxurious, relaxing bathroom can add greatly to a home’s resale value, as well as giving the homeowner many peaceful nights.


3. Observatory


Turn a top floor room into a luxurious observatory with the addition of a telescope! This is a new trend in luxury homes and is particularly popular with homeowners who already have large skylights or glass-enclosed rooms. Companies like High Point and Frontgate make excellent at-home telescopes that can transform any home into a beautiful observatory.


4. Home Theater

 

 

 


One of the hallmarks of a luxury home is a fully-functioning home theater. Modern technology allows homeowners to have full movie screens, surround sound speakers, and luxury seating. You can even design your own.


5. Sauna


Sitting in a personal steam room is the height of luxury. Specially designed benches, custom sauna decor, and particular rocks and wood are all sold to help homeowners personalize their saunas. Saunas have been proven to have many health benefits, helping people sweat out toxins and decrease stress.



6. Wine Cellar


Tried and true, the wine cellar has been a cornerstone of luxury homes. And, this classic is as relevant as ever in 2018. Amassing a wine collection is a wonderful hobby, and storing it in an aesthetically pleasing wine cellar is a privilege that comes from owning a luxury home. Play with lighting, shelving, and even seating to create a space perfect for storage and tasting.



Any of these amenities will add beauty and value to your home. You already own an amazing house--now make it truly luxurious!


If you’re ready to start the search for your luxury home, contact Janet McAfee for access to our listings over $750,000 as part of our exclusive affiliation with Luxury Portfolio.

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