By Ed Roskowinski, CR
Over 90% of luxury home buyers would give up 1000 square feet of living space in their next home if they could gain one thing; a better location. This according to a nationwide poll by Better Homes & Garden Real Estate, which looked at what luxury home buyers are in search of in their next home.
The BH&G poll asked 500 luxury homebuyers (people living in homes worth at least $1 million) to list items they regard as “essential” in their next home purchase. The top response for luxury bathroom spaces was; multiple shower heads. Also in the bathroom category were; a dedicated makeup and grooming space, heated floors, ports for digital music players, a “focal point” tub, and a sauna or steam room.
In the luxury kitchen category, the number one essential was “extra” appliances, such as a built-in coffeemaker or wine refrigerator. Other kitchen essentials included an island with extra sinks, an outdoor eating area, granite counter tops, and a flat screen TV.
70% of luxury homebuyers felt that a security system was essential in their next home. Other technology vote getters were an energy-efficient washer/dryer, smart thermostat, home theater, flush-mount wireless speakers, home automation system, and keyless entry.
More than half of luxury homebuyers would give up 1000 square feet of living space in their next home if it meant they could gain a better neighborhood or a home with more character. Many also felt a smaller home would be okay if they could gain a larger lot, access to dining and entertainment, a shorter commute, or community amenities such as a country club.
What do you see as “essential” in your next home purchase, or what would you be willing to give up living space to gain?
Ed Roskowinski is General Manger and VP of Vujovich Design Build, Inc., a 35-year design build firm specializing in building and remodeling unique Twin Cities homes for unique homeowners.