Tastes and preferences of luxury homebuyers certainly shifted over the last ten years. If the (early) 2000s were defined by an affinity for large mansions and grand living spaces, the 2010s were marked by a more refined approach to luxury as we emerged from the Great Recession and affluent millennials entered the housing market. In the spirit of reflection, the following are a few trends that luxury homeowners favored in the 2010s.
Quality Over Quantity
Ever since the Great Recession, there’s been a noticeable shift to smaller living spaces with open floor plans that allow for multi-purpose concepts. In exchange for square footage, homebuyers began focusing more on quality to create environments that are equally luxurious but require significantly less maintenance and upkeep.
Smart Home Tech
Years from now, the 2010s will be remembered as the decade that we embraced smart home technology. From security systems to thermostats, luxury buyers, especially millennials, have grown accustomed to these features and they have now become an important consideration when searching for a new property. Being able to automate daily tasks or control the home via smartphone has undoubtedly made life more efficient.
Over the past ten years, the movement toward sustainable living has come into our homes and forever changed the way that we live. Energy efficient systems, responsibly sourced materials and eco-friendly design are all the new norm. The demand for houses designed to maximize sustainability is only going to increase in the years to come as luxury homebuyers place increasing value on lowering their carbon footprints.
During the 2010s, we decided to start taking better care of ourselves at home. In addition to a rise in home gyms, that also meant more spa-like amenities, including yoga and meditation studios and a concerted effort to avoid any materials made using toxic chemicals. We’re also now paying more attention to creating better sleep environments in our bedrooms with smart lights that mimic natural lighting.