According to real estate brokerage company Redfin, luxury home sales picked up in the last quarter of 2015 and ended a nine-month slump. The real estate firm also reported the average sale price in the luxury market in quarter four of 2015 was $1.62 million. Sales in 2016 are predicted to climb and attract a new wave of luxury homeowners.
Indeed, luxury home sales are on the upswing with amenities to match. This year, everything from extravagant chef’s kitchens to green appliances that talk to each other are timeless additions. But which high-end amenities attract affluent buyers who want a piece of the luxury market? Here’s the scoop on what luxury home buyers really want to see before closing the sale.
Add an Outdoor Living Space
The great outdoors have become a focal point for the luxury home market, with natural looking pools, lush gardens and fully loaded outside entertainment areas. According to Casual Living, more than half of consumers would like to add an outdoor kitchen to their property. Give home buyers what they want and create the outdoor oasis they’re looking for.
Add an outdoor living room with a comfortable couch and fire pit, oversized tables for a gathering of friends and flat-screen TV for warm-weather entertaining. Include a wet bar and Systems Pavers BBQ island to attract home buyers looking for the perfect location for their next dinner party.
Think Smart
Today’s homes can do more than self-adjust their Nest thermostat after learning your habits. Entire kitchens can communicate with you to keep your home running smoothly. Your LG refrigerator can alert you when you’re out of champagne, and your oven can turn itself on and adjust itself to the optimum temperature to get dinner done on time. And modern home buyers want the technology.
According to a Smart Home Survey by Coldwell Banker and CNET Smart Home, 81 percent of current smart-home device owners said they would be more open to buying a home with connected technology already in place. Another 66 percent said they would offer all their smart-home products with their home if they thought it would sell their property faster.
Upgrade the Wine Cellar
Dedicated wine refrigerators and rustic cellars are now a thing of the past. Instead, home buyers are looking for complete tasting rooms that combine the cozy comfort of a den with restaurant lounge ambiance to host friends and family. Add soft lighting, a fireplace and your best wine collection to complete the look. You can still keep the cellar, but use it to store the wine at the appropriate temperature, instead of crowding around a dusty barrel to sip a glass of Chardonnay.
Skip the Bath
It was once en vogue for master bathrooms to feature opulent, sunken bathtubs with jets and a bay window to gaze out over your lush lawn. Affluent home buyers want an unforgettable luxury shower experience with multiple shower heads and custom designs. Go above and beyond by adding on the streaming waterfalls, exposed rock face, sauna-style seating area and a variety of jets for the perfect shower experience. Some homeowners are even taking out the bathtub altogether to make more space for their luxury master bathroom and crowning shower centerpiece.
