The luxury homes that attracted buyers in the past tended toward the big and lavish. Grand entryways, indoor pools, outdoor and indoor rec centers, separate rooms for home entertainment and lounging.
Even though trends for luxury properties in the real estate market still confirm that buyers will pay more for premium amenities, the qualities and features that define “premium” are changing and—in the case of space—are today practically an inverse of what had always appealed before.
Today’s luxury home buyers are gradually downsizing, trading square footage for sustainability, integrated home technologies, and hassle-free turnkey options. Now that millennials are gaining buying power, the luxury real estate market is seeing a reflection of their values.
For buyers in Orange County searching for luxury homes, the following upmarket home features are getting to be more enticing than ever.
Smart Home Technology
Smart tech, once a novel feature of the luxury home, is now commonplace and quickly turning into a requirement in the eyes of buyers. Through the integration of smart features and appliances, modern luxury homes address security, entertainment, comfort, and energy consumption all at once and with extreme ease.
Modern, automated security systems have apps that make control and access uncomplicated with a tap of a screen, a voice command, or a fingerprint. Home entertainment rooms come ready with pre-programmed preferences, so you can spend more time watching movies and less time fiddling with the surround sound or the thermostat.
Motorized and remote-control window treatments and lighting adjust light for every occasion, and sensors alert you ahead of time if the supplies in your refrigerator are dwindling or if there’s unwanted moisture building up behind walls.
For their buyers, luxury homes with integrated smart technologies consistently convey images of easy and quality living.
Sustainable Elements
Sustainability is another desirable quality that’s emerging in the luxury real estate market in Orange County and elsewhere, particularly when millennial buyers are involved. This generation of buyers makes more eco-conscious decisions and places more value on homes with less impact on the environment. Millennial buyers will generally pay a premium for energy efficiency, a low carbon footprint, and green home certifications.
Luxury homes with reclaimed or repurposed wood, brick, or stone elements also find more appeal with the general luxury home buying pool, because they make great conversation topics and contribute to a home’s uniqueness. For new constructions, reclaimed elements also inject a sense of history that would otherwise be lacking.
Multifunctional Spaces
Flexible rooms and home office spaces are also ranking higher in the list of amenities luxury home buyers want to see.
Professionals with highly mobile working habits appreciate the pragmatism of being able to transition a space from one use to another and see it as a clever use of the open floors common in luxury homes.
Buyers with families view multifunctional spaces as a way to achieve a work-life balance that also takes their kids’ needs and wants into consideration.
Luxe Indoor/Outdoor Living
Buyers in the global luxury market are now looking at how wellness figures into their living spaces. Demand for seamless indoor/outdoor living spaces is rising because “people not only want to be closer to nature but also to maximize their homes’ usable space.”
This translates to a continued desire for second kitchens (which may be located outside or right next to the executive kitchen). And since buyers want to make entertaining easy and enjoyable, the main kitchen of the ideal luxury home is equipped with commercial-grade and IoT-ready appliances.
The most favored outdoor living areas replicate the spa feel and comfort of a resort. The better the air flow and quality, the higher the value of the home, since buyers are looking to quickly destress in surroundings conducive to their mental health and well-being.
New, Modern, and Turnkey
Luxury home buyers are looking to new construction and newly-renovated homes to circumvent the challenges and growing pains of moving into a new home. Contemporary designs are all the rage these days: The Mediterranean styles that gained popularity in the 2000s are now giving way to the more relaxed and informal interiors of modern architectural design.
Some buyers are also willing to pay more for furnished homes, since they show the buyers exactly what kind of luxuries to expect and eliminate the mental load of decorating and renovating.
If you’re currently exploring your options in luxury real estate, you may want to add some of these features to your criteria.
If you’re looking for a trusted realtor with extensive experience selling deluxe properties, whether luxury beachfront homes or luxury horse ranches for sale, get in touch with us at the Cordova Real Estate Group. Just call us at 949.207.4040 or send an email to mc(at)southorangecountyliving(dotted)com.