Residz Team 2 min read
If you want to attract high-net-worth buyers and get top dollar for your home, you should aim to achieve something as close to this image as possible. Because this, my gawping friends, is a computer-generated model of the “ideal luxury home” based on data from a survey of high-net-worth individuals.
Luxury Portfolio International (LPI) rendered their first-ever model “Luxury Home of Today” using survey answers by individuals in the top 1% to 5% income bracket across 20 countries. The wealthy group of more than 4,600 people was surveyed about their top wants in a home for 2022 State of Luxury Real Estate (SOLRE) report.
While 90% of homes are out of reach for most buyers in some cities of Australia, they’re not too expensive for many of those the Australian Tax Office categorises as High Wealth Individuals. These are people who control a net wealth of $30M or more, according to advisory firm Keystone Private. But when you can buy almost anything, what would you want? With this kind of wealth, the high-net-worth survey participants show they want to be surrounded by all manner of luxury - including future-proofing features - when imagining their ideal home.
Sustainability, according to the study, is now a major differentiator in luxury homes.
“Buyers are willing to pay a premium to have features and amenities that better prepare them for the future,” says LPI in its press release. “75% of those surveyed noted choosing their next home with sustainability in mind, with an unprecedented 90% noting “yes” as to factoring sustainability in relation to a ‘Next Chapter in Life’ home search.”
But, environmental and cost-saving considerations aside, the wealthy want ‘self-care’ features in their humble abodes. Things like saunas and steam rooms, yoga studios, and ornate entertainment rooms are highly regarded. According to LPI’s release, buyers concerned about de-stressing their work-from-home environment noted diversions such as nightlife nearby, a specialty cocktail scale (whatever that is!), and specialty rooms for media and gaming.
We’ve noted before how the pandemic threw up 10 Home Living Trends that took us by surprise. Some crossover can be seen in 7 key trends which LPI said become apparent from the survey.
Looking at the images I note a few details that make the computer-generated images so appealing, and could be bought for under $1000.
I must say the ideal home of the wealthy is pretty appealing. It appears to have most of the Top 10 Features for Home Buyers, be in good taste, has used natural materials, is literally bathed in sunshine, promotes the outdoor lifestyle, and looks very comfortable. I’d give it a 9/10 with a point deducted for the absence of a pool fence. Otherwise it is top marks to the high-net-worth individuals!
Image: Luxury Portfolio International® “Luxury Home of Today,” with renderings by Visual Studio. Source: Luxury Portfolio International website.