Is “location, location, location” still the catchphrase ?
The top two priorities buyers place alongside location are ...
1. Space inside and out
This first priority won’t come as a surprise to those keeping up to date with current trends. Having room to work, relax, and remain physically distant has rocketed to the top of clients’ must-have list. “Some of the priorities included are large outdoor spaces with room for fire pits, outdoor movie screens, outdoor kitchen, and in-ground pools,”.
“Home offices, Zoom rooms, home gyms, and spaces for at-home schooling are also common requests.”
From a recent article I read and completely agree with wrote - In urban markets, the availability of luxury amenities has been compromised by lockdowns and new health and safety measures —yet Guthrie (article author) observes that these features will return to relevance and grow even more appealing as remote work becomes the norm.
“Today’s new developments offer lavish amenities which have been instrumental in drawing people to them, such as gyms, screening rooms, playrooms, and even pet spas,” she says.
2. Modern and move-in ready
When businesses went into lockdown, so too did all renovation projects—and homeowners aren’t looking to resume them anytime soon. “New constructions and fully renovated homes have been in high demand,” says the other article contributer Fox. “Buyers realize that time is the most valuable commodity; they appreciate a home that is move-in ready, and are willing to pay a premium for a turnkey residence.”
Along with no repair or restoration required, buyers also don’t want to have to replace any appliances or technology. Notably has seen huge demand for fully smart homes wired with the latest digital and automated systems, along with well-appointed kitchens.
The past year has brought unparalleled attention to luxury properties in suburban and vacation markets. As companies have made the transition to remote work, buyers are weighing the option to move out of compact urban centers—but location isn’t the only thing on the luxury buyer’s wish list. As lifestyles change, so do the criteria for the perfect home.