As an experienced real estate investor, Bruce Streibinger Specializing in luxury and multi-family home development, Strebinger is familiar with luxury home trends that are likely to continue beyond 2022. It provides insight into what market buyers expect of high-end homes to enable developers and investors alike to make smart building and investment decisions.
While ivory towers may be needed for the wealthy, there is an attraction for people to build stronger communities now. So, even as privacy remains an invaluable feature, wealthy individuals seem to want to spend quality time with their neighbors. They want their homes to support this lifestyle,” Bruce Streibinger notes.
Developers are urged to pay attention to the luxurious exterior features that allow individuals to host large gatherings on their own property. Built-in barbecues, outdoor refrigerators, and pizza ovens are desirable features that set the upscale home apart from other residences. An outdoor theater area is another great option, such as an ornate pergola with a chandelier.
The kitchen should also be at the top of the developers list, Bruce Stringer explains it, for the same reason indicated above. It is an ideal place for people to gather with others. To that end, they need to be large in size and feature appliances that are typically only seen in high-end restaurants.
Luxury stores have multiple burners and come with high-tech quick-cooking ovens to make food preparation easier in a jiffy. Pantry space is a must, and aspiring luxury homeowners look for pantries with shelves to store food and a stylish food prep area.
Luxury buyers also pay close attention to the design of the bathroom, Bruce Streibinger keeps it up Explain, and developers should do that too. Bathrooms should be high tech but have a relaxed atmosphere.
It was as simple as adding a Jacuzzi to the bathroom was probably enough to satisfy the buyers; Now, trends include 100% stone countertops, a massive walk-in shower, heated floors, and a deep soaking tub. A mini fridge is also provided where the bathroom becomes a luxury place where one can relax and unwind after a hard day’s work.
Stringer notes that the luxury real estate market has cooled somewhat. However, the industry is poised to rise in value again, driven in part by a shortage of luxury real estate in the United States. While some buyers are willing to pay more for homes with fewer features than expected, this situation will not last.
It is better for developers to be aware of the trends in building luxury properties to achieve the highest possible profits from sales. While it is impossible to accurately predict what every buyer wants from a luxury residence, investing in upgrading the outdoor areas, kitchen and bathroom will yield a high return on investment and enable the home to sell faster and at a better price than would otherwise be possible.
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