The word luxury can mean many things relating to real estate. To some, luxury is about sprawling spaces, fine finishes, and indoor swimming pools. For others, it’s about privacy, efficiency, and manageability.
Financially, luxury real estate has been defined as being as low as $500,000, but more often, it trends between two and five million dollars and up. Whether you’re looking for your forever home, a vacation getaway, or an investment property, you’ll need to define what luxury means to you.
Here are some features you can expect to find in a modern luxury home.
Current Luxury Housing Trends
- Smart technology
- Open concept floor plan
- Stocked kitchen
- Outdoor living spaces
- Home theaters
- Spa bathrooms
- Spacious closets and dressing rooms
- Fitness rooms
- Eco-friendly design
Luxury Isn’t Defined by Square Footage
As the next generation of luxury home buyers enters the real estate market, the definition of luxury is changing. It’s less about making a statement with size and more about convenience and lifestyle. People are trending toward smaller spaces with more functionality, including storage and organization.
They’re also interested in more multi-functional spaces or flex room, such as using the dining room as a workstation or a home office that converts to a spare bedroom. It can also mean rooms dedicated to a specific hobby, such as a craft room or reading nook.
Smart Homes Take the Lead
Technology has surpassed size when it comes to defining luxury. Having a home that can be controlled by voice commands, smartphones, or automation is now the top priority for buyers.
Smart homes are more efficient, secure, and allow for complete customization to your preferences. You’ll be able to control the ambiance, entertainment, and safety of your home with ease and convenience.
Smart technology and automation in luxury homes may include:
- Window coverings that automatically open and close with dawn and dusk.
- Music and audio
- Entertainment systems
- Security systems
- Door locks
- Motion sensor lighting
- Garages equipped for hybrid cars
- Invisible wireless charging
Open Concept Plans in Luxury Homes
Many luxury buyers place a high focus on entertaining and enjoy the open airiness of open floor plans.
Open floor plans enhance natural light, give the feel of a larger space, and makes the kitchen the heart of the home.
Fully Stocked Kitchen
Kitchens have long been thought of as the most important room of the house – where nurturing and nourishing take place.
This is especially true in luxury homes, which require the very best in a fully stocked kitchen complete with warming drawers and a wine cellar.
You may even consider a luxury home that includes a service kitchen, ideal for entertaining to keep the guests separate from the mess and the hired help.
Luxury kitchens are also known to have high-end appliances, custom cabinets, and multiple work areas.
Outdoor Living Spaces
Outdoor kitchens and living spaces are also among the top priorities for luxury home buyers. Far beyond the typical backyard barbeque, luxury properties have outdoor kitchens that are equally impressive to the ones indoors, with stainless steel appliances, sinks, work stations, and more.
In addition to cooking outside, people enjoy recreation and entertaining outdoors, so having outdoor furniture arranged into conversational areas, perhaps around a fireplace. It’s a way of creating a living room and dining room in your back yard.
This is also where you’re likely to find a heated infinity pool or a custom swimming pool that adds to the comfort and luxury of outdoor living.
Home Theater Trends in Luxury Homes
While the living room used to be the traditional place to hang out with friends and family with a bowl of popcorn for a movie, home theaters are now all the rave.
More than just a big screen t.v., these multi-media rooms are furnished with ultimate comfort in mind. From surround sound to multiple screens, many media rooms come equipped with the ability to watch movies the same day they’re released in theaters.
Spa Bathrooms, Closets, and Dressing Rooms in Luxury Homes
Bathrooms in luxury homes can serve as private retreats with all the amenities of a spa, including:
- Touchless bathroom fixtures like sinks and toilets
- Heated toilet seats
- Heated floors
- Towel warmers
- Steam showers and body jets
You can also find cozy, well-lit vanity stations for your beauty needs.
Spacious closets and dressing rooms also lend to the luxury of affluent living, with particular attention to storage and organization.
A Focus on Wellness
Health-conscious high-end house-hunters tend to look for fitness rooms, athletic courts, and areas that focus on health and wellness. These home gyms are usually spacious to allow room for ample exercise equipment and workouts.
They’re also wired to accommodate the electronics involved with most modern exercise equipment such as treadmills, indoor bikes, elliptical trainers, and other technology-driven workout essentials.
Eco Friendly and Green Features in Luxury Homes
Leaving a smaller carbon footprint and maximizing efficiency are top priorities for some luxury homebuyers who may be looking for an eco-friendly or green home. Eco-friendly luxury homes may include,
- Geothermal heating and cooling
- Green roofs and walls
- LED lighting
- Solar panels
- Sustainable, locally sourced construction materials
- Vegetable gardens and orchards
Work with a Luxury Property Realtor®
To find your luxury dream home, work with a professional real estate agent who is a certified luxury property specialist.
These real estate agents have specific knowledge about the nuances of luxury living, the legalities of purchasing high-end real estate, and the etiquette to help you relax and enjoy the process of the house hunt.
Your agent can also help you review and refine your wish list, if necessary, to fit your home-buying budget.
René Burchell – Realtor®
(469) 877-3303 | Coldwell Banker Residential Brokerage
Experienced | Professional | Resourceful | Luxury Service
Rene Burchell is in the Top 1% of Realtors® in her industry as awarded by America’s Top 100 Real Estate Agent.
“Our Mission: Consistently focusing on helping our clients achieve their goals with the utmost customer service, integrity and guidance.”
Real estate market trends are ever-changing, and as the younger generation steps up to make their mark on luxury, they’re redefining what luxury means — they influence luxury housing trends.
Today’s luxury properties are smart homes with open concepts, loaded kitchens, spa bathrooms, home theaters, and fitness rooms, along with outdoor kitchens, swimming pools, and saunas.
Have Questions? Ask René!
Give René Burchell a call today to learn more about local areas, discuss selling a house, or tour available homes for sale.