What do luxury home buyers want?

• First and foremost, luxury home buyers want to buy a home. Is this stating the obvious? Luxury home buyers are back, and they are serious buyers. They are not just tire-kickers. Upper bracket home sales are heating up, and this phenomenon is being seen all over the country. Upper end buyers out there right now are not too worried about prices or interest rates. I think this is a positive omen for the real estate market in all price ranges. I predict that the consumer confidence at the upper end will trickle down.
• According to the Luxury Homes and Luxury Real Estate Blog, luxury buyers sometimes want to remain super-secretive about their identity. In the San Diego market, it is common to encounter a “screener” who is scoping out homes for the buyer. I haven’t seen this trend in Minnesota yet, but I do find that upper end buyers need more assurance of increased confidentiality. Of course, strict confidentiality should be guaranteed to buyers of all price ranges.
• In California, retro decorating is coming back, according to Luxury Clues. I am seeing a lot of 70’s colors repackaged in new hues, but I haven’t seen 70’s furniture, light fixtures, etc coming back yet.
• According to the Sacramento Real Estate Voice, luxury home buyers want a second set of laundry room appliances. Apparently this trend is reaching Minnesota. Recently, I worked with a fellow who was looking for a Lake Minnetonka home with a second washer/dryer set right off of the master suite.
• Property Maven says that upscale home buyers want designer kitchens, entertainment rooms, and wet bars.
• According to the Washington Post, buyers are looking for a greater connection with the natural environment and the outdoors. Developers are luring luxury buyers by including equestrian centers in the neighborhoods they are building.
• According to the Raleigh Duram Real Estate Blog, luxury buyers want a home with at least 3500-4000 feet. Most of the luxury home buyers that I encounter in Minnesota think that a home less than 5,000 feet is rather small.
• What do upper bracket home buyers want from their real estate agent? The Luxury Home Digest offers some insight. Generally speaking, luxury home buyers are used to seeking professional advice when making major decisions, and reap the benefits of counsel..

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Possibly related posts:

1. About Minnesota Home Buyers
2. What home buyers want.
3. Minnesota Home Buyers and Regulation Z