As the luxury home market evolves, an agent must keep a finger on the pulse of these changes. Marketing luxury homes for sale means knowing what high-end home buyers want. Meeting or exceeding these expectations makes an agent a go-to resource for these busy and discerning buyers.
Technology has given a whole new meaning to the concept of a glamorous life. Spa bathrooms with deep tubs, head-to-toe shower jets, and radiant heat are the norm. Gourmet kitchens equipped with energy-efficient appliances, quality finishes, and a workable centre island are must-have features. Buyers want open spaces that seamlessly go from indoor to outdoor living. Modern outdoor living spaces include an enclosed area, outdoor kitchens, and a heated swimming pool with a hot tub. Landscape designs should be eye-catching and focused on seasonal appeal. Make a list of the amenities buyers must have and surprise them with a few extras.
Buyers with an unlimited budget want convenience. Most buyers now want home automation. From opening the shades to turning on lights and alarms, a homeowner can control everything in the house from any location. Homeowners decide what to turn off and on from a smartphone while they are at a meeting or on vacation. The location also matters to high-end buyers. Talk to clients about their lifestyles. Boaters want access to waterfront areas and a marina. Pilots look for proximity to the airport. Golfers prefer to live near an award-winning course. A professional medical needs to be near the hospital or clinic. Parents of school-age children want access to quality public and private schools. Find homes that make life easier for fast-paced, high-end buyers.
The majority of luxury buyers expect panoramic views of the water, mountains, city, or countryside. Rooftop terraces and balconies are the perfect way to get a “king of the hill” view of the surrounding areas. Floor to ceiling windows provides protected views of the outdoors as homeowners lounge around inside. Use a drone to get breathtaking overhead images. A 360-camera offers a realistic tour of the home, including the scenery around it. When marketing luxury homes for sale, images speak to buyers and encourage them to schedule an appointment to see the house in person. Stage the home to showcase its most elegant features. Focus on entertainment areas so buyers can imagine themselves enjoying the property with guests.
Luxury buyers want quality and transparency when they work with a real estate agent. All marketing materials should be printed on heavy gauge paper with readable fonts and attractive images. Include detailed descriptions of the property. Outline the services provided to buyers. Agents must communicate their qualifications and what each property offers. Busy buyers want all the necessary info at their fingertips. In less than five minutes, a potential buyer should have everything they need to encourage them to schedule a viewing with the agent.
Luxury home buyers work hard and play hard, too. Appeal to this lifestyle and make the process as comfortable as possible. Get to know the buyers and go beyond their wish list to please them. The result will be a solid deal with plenty of high-end referrals in the future.
What Defines A Luxury Home?
Everyone dreams of owning a beautifully updated home with all comforts. It shouldn’t be a mansion, but it should offer the owners an ultimate living experience. Of course, the definition of a dream house differs from person to person. The residential projects’ interiors, amenities, and facilities can make it look lavish and extraordinary. Well, modern apartments provide an exclusive nature-friendly environment.
We are mentioning some important must-haves features of a dream luxury home.
Correct Interior Designing
The interiors need to be inspired by the international architectures and monuments, trending home decor styles, crown mouldings, archways, rounded corners, and art nooks at the correct place to give your house a unique look. It is the most indispensable part of any expensive home.
High-Class Security
The luxury apartments offered by redevelopment builders in metropolitan cities have in-built security features. To keep your home secured from burglars and unwanted intruders, you can use smart locks, safety alarms in case of any break-ins and fire, and CCTV cameras.
Proper Home Plans
The home plans need to be carefully crafted and designed to look spacious. Open areas, balconies or lawns, and other wonderful amenities fit into it. It gives a sense of freedom. The house should be breezy, airy, and filled with bright light. It should have appropriate space for meetings, events, and other occasions for you and your family. The home closet space is of high priority.
Fine Kitchen
It is the heart of the home, and it needs to be at the centre of the house. The spacious kitchen should have smart lighting, excellent music, double ovens, cabinets, island sink, heating drawers, island sink, and many more. It is one class above any ordinary kitchen. You can hire a chef who will be delighted to cook good food for you for any luxurious event.
Fantastic View
After a hard day at the office, you want to relax in a quiet environment. The open areas or huge balconies of your home, a part of residential projects, can provide a beautiful view. You should be able to get some fresh air and enjoy gazing at the sky. It will help you to calm your mind. It allows you to catch up with your friends and family; share interesting stories, and have fun. The large balconies with a well-kept garden will make it look outstanding combination.
Exclusive Smart Home Features
The smart home features are connected through mobile applications. You can get motion sensor lightning, timers-set lights, smart thermostats, curtains operating on sunlight, and many more. Check out what redevelopment builders are going to offer you when you buy a property.
Lavish Amenities
The lavish properties aim at providing you with spectacular life. The lavish amenities include a gym, temperature-controlled Jacuzzi, walking area, kids playground, saunas, etc. These are the essential features that everyone in the course of life requires. The fitness freak person will be able to access the gym as per convenience. Even some apartments offer open free space for Yoga keeping in mind the fitness needs of a person.
Locations
This is one of the important parts since it will define your story and the place you belong to. The location speaks a lot about your luxury life. Well!! The accessibility and ease of transportation are also the primary factors considered while buying an ideal home.
A luxury property is made of high quality, long-lasting materials and completed with an elegant touch. Well, it is big enough for each member residing in the family and can they enjoy their own space.
10 Features High-End Home Buyers Want
The pandemic has forced governments worldwide to issue “shelter-in-place orders” and has interrupted nearly a decade’s worth of positive housing momentum. In fact, what was shaping up to be one of the busiest summers in recent history has essentially failed to live up to expectations. Instead of realizing historical home sales numbers, buyers and sellers are now on the sidelines waiting for someone to make the first move. That said, demand remains intact. The pandemic has served as an obstacle, but buyers are still in the market and perhaps more ready to buy than ever before. As a result, buying season looks imminent, which begs the question: Do you know What homebuyers want? What can sellers do to their own homes to make them more desirable to most buyers?
While the Coronavirus has certainly changed the way buyers and sellers view the real estate landscape, the most coveted home features remain unchanged. That said, millennials and first-time homebuyers are expected to make up a large portion of buyers for the rest of 2021. Consequently, how can sellers be sure to capitalize on their participation? What, for that matter, can homeowners do to be sure that their properties sell this year? And finally: What features are most important to homebuyers?
Updated Kitchens & Baths
What do new home buyers want? The answer is simple: updated kitchens and bathrooms. Millennials and first-time homebuyers have made their intentions known. As a result, updated kitchens and baths are a must. According to a recent survey conducted by Metropolitan Regional Information Systems Inc., 81 per cent of respondents recognized updated kitchens and bathrooms as the most important feature when considering whether or not to purchase a home.
If your budget warrants it, I highly recommend upgrading your kitchen and bathrooms in the latest Cost Vs. Value report issued by Remodeling.com, both kitchen and bathroom remodels become synonymous with some of the highest ROI projects. What’s more, you don’t need to break the bank to attract first-time homebuyers.
The key is to search comparables and make just enough improvements to stand out from the competition. Remember, there is no need to conduct a $100,000 kitchen remodel in a neighbourhood where homes only sell for $250,000. However, I recommend upgrading your kitchen to the point it is slightly better than those within proximity.
Open Floor Plans
What are homebuyers looking for, if not for more living space? The whole idea of moving into a first home is to upgrade from the previous living arrangements, after all. Outside of modernized kitchens and baths, first-time homebuyers have expressed their desire for open floor plans. Not surprisingly, 59 per cent of first-time homebuyers were expected to prioritize less-confined homes or those that facilitate functionality. Therefore, sellers should consider their current floor plan and determine whether or not it would be worth knocking down a wall or two before putting the property up for sale.
The proper renovations have been known to add to both the value of a property and its appeal. Consequently, it is entirely possible for more appealing floor plans to create demand. In addition, the more exposure your property generates, the more likely it is to sell faster and for more money.
If at all possible, I recommend eliminating any walls that separate the kitchen from the living room. People of all generations, not only millennials, have favoured the open kitchen concept, as it allows for a more conversational flow to the property.
Low Maintenance Features
The Cost of purchasing a new home is enough to keep many millennials from actively participating in the housing market. Even those who finally manage to leap must do so with cautious optimism, as prices surpass their pre-recession levels in more and more cities every month. First-time homebuyers are finding it difficult to develop a down payment and monthly mortgage payment, let alone the funds to maintain the property they just bought. First-time homebuyers simply don’t have the expendable funds to worry about too many costs that follow the actual purchase itself.
That said, it’s not hard to see why first-time homebuyers are inclined to favour properties that require little to no maintenance. The idea of saving money on maintenance is a strong selling point and one home sellers need to consider.
Most first-time buyers cringe at the thought of spending more money after having recently made the largest purchase of their life, so it only makes sense that they will prefer a “move-in ready” home over one that requires a lot of maintenance. That said, sellers are advised to reduce the amount of post-purchase work as possible.
I recommend refurbishing your kitchen with new appliances. Not only will they add to the home’s value, but first-time homebuyers will also recognize the new addition as something that will not need attention for quite some time. In fact, the less they will have to address after immediately purchasing the home, the better.
Energy Efficiency
Not unlike limiting the amount of maintenance property will require once it is purchased, energy efficiency has caught the attention of first-time homebuyers for the sole purpose of saving money. However, energy efficiency has the added benefit of compounding savings over time.
Sellers are advised to include as many energy-efficient upgrades in their homes as possible if they want to attract the interest of first-time buyers.
According to Remodeling’s Cost Vs. Value report, the addition of fibreglass insulation in your attic can set you back about $1,268. What’s more, that same project coincides with an average resale value of $1,482, or a return of 116.9 per cent on the project’s initial cost; it actually adds to the house’s value.
However, today’s buyers will be more interested in the amount of money they will save on energy bills while living in the home. Insulated properly, a home can save owners a lot on their energy bills. According to Energy Star, “homeowners can save an average of 15% on heating and cooling costs (or an average of 11% on total energy costs) by air sealing their homes and adding insulation in attics, floors over crawl spaces, and accessible basement rim joists.”
If you are looking to sell your home, don’t hesitate to highlight any energy-efficient amenities you may have. Of course, first-time homebuyers are interested in anything that will save them money in the long run, not excluding low-flush toilets, attic insulation, double-paned windows, and anything else that will reduce their carbon footprint and energy consumption.
Wireless Connectivity
Want to know what homebuyers want today? Connectivity. No other generation is more aware of what today’s technology is capable of than millennials. That said, it is safe to assume that their inherent dependency on technology will affect the way millennials buy homes. Nearly a quarter of all first-time buyers (20%) are expected to prioritise homes with strong cell phone service and Internet connectivity (smart home features).
Not surprisingly, millennials are the first generation of buyers that fully expect homes to meet their technological demands. Strong Internet connections and cell phone service are no longer a luxury but rather a necessity. The sooner sellers realize that, the better their chances of attracting a buyer are. Any home that neglects to address the issue is destined to grow stale on the market.
Never before needs strong cell phone service and WiFi connectivity been more important to buyers, and those looking to sell in 2021 should take note. Be proactive and address any issues your property may have with connectivity. For less than $100, you can buy a signal booster and eliminate any concerns your future buyers may have.
Laundry Rooms
Often overlooked but never unappreciated, laundry rooms have found themselves at the top of almost everyone’s priorities list. According to a Kiplinger article, in fact, 91.0% of buyers want laundry rooms in their new homes, and first-time buyers are no exception. Perhaps it has to do with needing more space, or maybe it’s because they are tired of using shared, communal laundry rooms at their previous apartment complexes, but first-time buyers have expressed the need to have a laundry room.
“Having a separate room [to use for things such as folding or ironing clothes] helps to keep the mess out of your living space . . . Potential buyers will see it as a huge benefit,” says Paul Sullivan, founder and president of the Sullivan Company, a Newton, Mass., remodelling, and custom-building firm.
As a result, today’s sellers would be wise to give it to them. With an investment ranging anywhere from $1,000 to $10,000, sellers can install a small-scale laundry room that will attract more buyers. The added attention will surely drive up competition and perhaps even offer prices.
Patios
With many first-time buyers moving up to a home, a top priority will be more space. More often than not, new buyers come from cramped living spaces, and moving up is more of a need for more space than anything else. That said, it shouldn’t surprise sellers to learn that patios are wanted by about 87.0% of today’s buyers. Since most first-time buyers use a balcony, a patio makes a lot of sense; it’s a relatively simple upgrade that can make a world of difference.
According to the previously mentioned Kiplinger article, a 120 square foot concrete patio may cost homeowners $1,024, but the returns could be worth their while. “When most buyers see a house with a nice backyard, they start to envision themselves sitting outdoors with friends having drinks,” says Mike McGrew, chairman and CEO of McGrew Real Estate, a Lawrence, Kansas-based realty firm.
Garage Storage Space
Once again, most first-time homebuyers are looking to replace their current living situation with more spacious accommodations. Sometimes the whole reason someone wants to buy a home is for more space, which would explain why about 85.0% of today’s buyers demand garage storage space.
As any homeowner will tell you, it’s easy to accumulate too much stuff. However, homeowners have a knack for abundance, and garage storage space is a must. More specifically, however, is the value of efficiency. Garage storage space allows homeowners to buy the things they need/want without taking up too much space in the living area. On top of that, the garage storage is usually more accessible than an attic or shed, which allows homeowners to store things over the course of a year without forgetting where they put them.
The Cost of adding garage storage can vary dramatically, from cheap DIY shelves to professionally installed workbenches and cabinets. Regardless of the price, however, the effort will go a long way in attracting more buyers.
Exterior Lighting
Exterior lighting is a great way to add both curb appeal and functional lighting. On the one hand, a properly lit home is much more attractive and welcoming to anyone passing by or stopping in for a visit. On the other hand, exterior lighting is almost necessary for anyone looking to host outdoor activities. Additionally, and perhaps most importantly, exterior lighting is an added safety feature. A few minor instalments can make a home safer for its occupants. Whether it’s barbecuing or hosting a game night, exterior lighting can make all the difference, and homebuyers are starting to take notice. For a relatively low cost of entry, exterior lighting can be installed for as little as $50.00 a fixture. Of course, the Cost can increase with more luxurious fixtures, but the point remains the same: the project can be done for an affordable price.
Walk-In Pantry
What features are most important to homebuyers? I can’t stress this enough: more space. And, as it turns out, walk-in pantries are a great way to add more space to a home. The Cost of a walk-in pantry will vary from inexpensive to exorbitantly expensive; the style of the home will dictate the price. For example, luxury homes will require nicer pantries to suit the new owners’ needs. Luxury walk-in pantries can run owners upwards of tens of thousands of dollars. However, mid-range homes can get away with something more affordable. Consequently, about 83.0% of today’s buyers will want to see a walk-in pantry, making the investment worthwhile. Typically around five square feet, walk-in pantries are what first-time homebuyers are looking for in a new place; again, they want more space than the place they are moving from.