^ Top

What Luxury Homebuyers Want

Author:

What Luxury Homebuyers Want

The Top 3 Things Luxury Homebuyers Want

Most homebuyers set out on their search with a list of their needs and wants. With their budget in mind, they know what they can afford to get their needs, and hopefully get a few of their wants as well. But when it comes to luxury homebuyers, there is very little difference between the needs and wants. Since their budget is typically very high, they can set out to get everything they want – and more – without much difficulty. Something that may seem extravagant to a normal shopper is essential to a luxury homebuyer. The biggest difference between today’s luxury homebuyers and the big-budget buyers of old is function. They don’t just want a lot of space; they want every inch to serve a particular purpose. People are not interested in having 40,000 square foot houses if most of the house is just going to waste.
That being said, here are the top 3 things that today’s luxury homebuyers want:

1. Great views
One of the most important things homebuyers are looking for when it comes to luxury homes is great views. Even if the home isn’t near the beach or in the mountains, luxury home shoppers want to see something pretty. Homes with big picture windows that overlook the city lights or surf pounding the shore are in high demand for luxury homebuyers. For example, homes in the Hollywood Hills of Los Angeles have larger property values, because of the views of downtown that extend all the way out to the beach. If it’s a luxury home in a metropolitan area, homebuyers want to see landmarks, parks, or bridges. No matter where the home is, the view had better be a good one – and it’s not just one great view either. Luxury homebuyers want to see great views from their kitchen window, their bedroom, and even their garage!

2. Room to entertain
People who own luxury homes want the capabilities to entertain themselves and their guests. Many luxury homebuyers require a basement for bowling alleys, theaters, and bars. These rooms typically aren’t appropriate for other areas of the home, so a basement is usually necessary to make these upgrades. A big backyard is also a must for luxury homebuyers. That way, that they can install a pool and bring in a state-of-the-art BBQ – or even a gourmet outdoor kitchen! A luxury home must have the space to be able to provide these assets if they don’t already exist in the home.

3.  Space that’s just right
Luxury homebuyers require just the right amount of space to fulfill their desires – without having too much room. There needs to be ample space in the bedrooms, big kitchens, and enough space for guests. However, too much space has become a negative aspect of luxury homes, as people are beginning to realize what a waste these oversized houses can be. People want to have space, but they need to know what to do with that space, which becomes very difficult with huge houses. According to the LA Times, one homeowner put his house on the market because he never used 80% of the space in his 40,000 square foot home! Bottom line – in the case of luxury homes, bigger is not always better!
 


This article is brought to you exclusively by RealtyPin.com


***Publishing Rights: You may NOT republish this article in your web site, newsletter, or eBook, without our written consent.


Real estate news

  • Tips to Sell Your Home Fast

    Share

    HOME BUYING, SELLING, RENTING

    Tips to Sell Your Home Fast

    When selling your home, it’s easy to get lost in the shuffle of all the other listings in your area. Before setting out to sell your home, there are some easy ways to improve...

  •  Most Expensive Housing Market

    Share

    HOME BUYING, SELLING, RENTING

    D.C. Replaces New York as Most Expensive Housing Market

    If you're looking for a city where you'll get a lot of bang for your buck in the housing market, scratch Washington D.C. off your list! According to a recent survey, our...

  • Realtor Contracts

    Share

    HOME BUYING, SELLING, RENTING

    Realtor Contracts

    What Does Your Realtor’s Contract Really Mean? When it comes to buying a home, the agreement between a buyer and a real estate agent is often just a spoken one, but the...