What are today’s luxury buyers looking for?

What are today’s luxury buyers looking for?

When you think of the luxury real estate market, you might think of stately old mansions covered in ivy set on sprawling estates. Yet the buyers at the top of the market want what most buyers these days want. As people are spending more time at home there is a new desire to make our home our castle. This doesn’t necessarily mean a home fit for a king, but a home with contemporary design that can serve all the needs of modern life under one roof.

For many people our homes have become the place we work, go to school, exercise, virtually socialize, and relax. There’s been a surge in home improvement and remodeling as homeowners seek to create multi-functional spaces. Meanwhile, buyers in today’s luxury market are using their means to shop for modern homes complete with all the space and amenities to suit a new era of people spending more time at home.

Multi-functional, multipurpose rooms are in demand as dining rooms have become conference rooms, bathrooms are transformed into spa retreats, and garages are fitness centers. Younger families require more spaces for children to live, play, and learn. Integrated smart home technology features are popular now as people enjoy the convenience of having many devices in their daily life automated and ready to communicate, send information, and take commands for everything from security to entertainment. Covered outdoor living spaces for all season family fun and small group entertainment are increasing in demand now especially considering our Pacific Northwest climate that keeps us cooped up indoors for too many months during the rainy season.

As 2020 comes to an end (and hopefully pandemic times also), these home features will likely become the new normal for home buyers across all markets for the coming years.

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