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Luxury Homeowners Believe Their House Is the Best on the Block

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By Nick Caruso

In recent years, the real estate industry has seen how technology has made not only the luxury consumer, but all consumers, more informed than ever. Survey findings show that technology is evolving the role of the real estate agent, but certainly not discounting the personalized connection they provide. Ninety-six percent of luxury homebuyers today are leaning on their real estate agent for more acute information than ever before. They’re looking for insight into neighborhood lifestyle (65 percent), advanced new listing notices (64 percent), advice on housing trends (55 percent), and support on a personal level throughout the buying process (53 percent).

Multiple Properties and Lifestyles
Investing in more than one home has become a trend in today’s luxury market. A majority of luxury homeowners surveyed (53 percent) prefer owning multiple “lifestyle” homes. In fact, more than half (58 percent) of luxury homebuyers already own multiple homes to support their lifestyle activities.

Fabulous Lifestyles Meet Fabulous Amenities
Sixty percent of luxury homebuyers surveyed would rather have as many upgrades as they can afford in their home, rather than more square footage. Similarly, nearly all (94 percent) luxury homebuyers surveyed would be willing to give up 1,000 square feet of living space to get a lifestyle amenity they desire, such as: living in a better neighborhood (54 percent), living in a house with “character” (51 percent), more land (44 percent), access to dining and entertainment (39 percent), and a shorter commute (38 percent).

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