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What Luxury Buyers Want in a Home

by Chuck Green

banknotesThe nation’s wealthiest 1.5 percent have a distinct set of features that they look for in a new home, according to a new Coldwell Banker Previews International and Ipsos Connect survey.

The following features rated highly among luxury buyers:

  • Forty-three percent of buyers want a fully automated and wired home environment.
  • Thirty-four percent want home gyms.
  • Thirty-two percent want home theaters.
  • Thirty percent want a safe room
  • Thirty-six percent want LEED certified green homes.

Additionally, 39 percent wanted to live in a specific location.

Real Estate Investment in 2015

Real estate investment is up 48 percent from 2014, and 54 percent of the wealthy aim to make an investment this year, according to the survey. Residential real estate makes up 38 percent of the wealthy’s net worth. In the last five years, 43 percent purchased real estate and 57 percent paid cash for their purchase.

On average, Generation X paid the most for their properties, at an average of $5.24 million; Millennials, by contrast, paid $4.96 million, while and Baby Boomers paid $1.55 million.

Coldwell’s survey found that 40 percent of the nation’s wealthiest are interested in making an investment, 30 percent felt it was a safer investment than the stock market and 31 percent aim to take advantage of low interest rates.

 

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