"Luxury is the balance of design, in the sense of beauty and highest quality." – Domenico de Sole

What exactly is luxury real estate?

Just like its name implies, luxury real estate is defined as high-end, custom properties that offer exceptional quality, features, and amenities, often designed and built to meet the discerning needs of affluent clients. Some facets of a luxury home include premium materials, state-of-the-art technology, advanced security systems, stunning views, spacious living areas, and luxurious finishes. While the price tag of luxury real estate differs based on market and location, a luxury home typically costs $1M+ and is almost always in the top 10% of the listed homes in any given market.

As with anything else in life, trends come and go, and luxury real estate is no different. There are some exciting ideas and amenities emerging that are taking center stage in the current market, so let's take a closer look at some of them.

Fitness and Wellness

There's been a post-pandemic shift in health and wellbeing with the rise of the "home gym," but luxury homes have gone a few steps further by adding pools, saunas, tranquility gardens, meditation rooms, and – of course – gyms to their repertoire. And with the increasing popularity of water exercise, homes equipped with lap pools are in demand and place a special emphasis on salt water, which allows for happier skin and eyes. We're also seeing a lot of cold-plunge pools as their chilled water is believed to strengthen the immune system, release endorphins, and improve moods; these are ideally paired with a sauna. A strong drive for at-home wellness is seeing dedicated spaces boasting massage tables, aromatherapy, and soft lighting which allows homeowners to relax after a long day of work or after swimming in their lap pool.

Gardens Galore

Many luxury home designers are now creating green spaces which include tranquility gardens, green roofs, and serene mini retreats in which to practice yoga and meditation. Homes featuring lush gardens serve twofold: as a beautiful area in which to entertain guests and a tranquil space for relaxation. Many luxury homeowners want designs that include water features as the sound of water is soothing and some are looking to grow their own consumable organic produce with water-collection systems that use rainwater to hydrate plants as a sustainability measure. And with luxury homes continuing to blur the line between indoor and outdoor living, a beautiful green space accompanied by outdoor kitchens, fire pits, and poolside cabanas create a seamless flow between the indoors and nature.

Reuse. Reduce. Recycle.

There's a big demographic shift in the luxury real estate market with over half of high-end homeowners under 35 being women, many of whom are focused on sustainability and social responsibility with features like solar panels, energy-efficient appliances, and upcycled building materials. And let's not forget those electric cars! Affluent, socially-conscious buyers want properties with charging facilities, which will allow them to thrive in their eco-friendly lifestyle.

High-End Finishes

The use of high-end finishes and materials is nothing new in luxury real estate as marble or granite countertops, hardwood flooring, and custom cabinetry create a lavish and sophisticated living environment. But there are other finishes coming on the market such as Cork Spray: a nontoxic, mold- and fire-resistant alternative to traditional paint which looks and feels like stucco, but doesn't crack or fade. Another sign of the times is the use of raw stone, imported wood, and even glass on walls, and custom floors laid in a herringbone pattern out of white-oak or walnut screams of elegance and grandeur.

Smart Technology

Smart home technology has become another standard feature in many luxury homes, with buyers seeking properties equipped with the latest technology such as voice-controlled lighting, smart thermostats, and automated window treatments, features which also reduce waste and increase sustainability efforts. And who doesn't want to come home after a long day to a perfectly heated or cooled home, being greeted by a well-lit and welcoming entryway? We certainly do!

Home Offices

With remote work evolving into a more common practice, there's a huge shift to home offices with many luxury buyers looking for homes with dedicated office spaces with high-speed internet, video conferencing capabilities, and opulent office amenities. Homeowners who work from home want their office to be in an area that keeps them feeling inspired which often means a room with a view, plenty of storage, and lots of natural light to brighten the space.

Privacy

This one speaks for itself as luxury buyers are often concerned with privacy and security and are looking for properties that offer gated entrances, security systems, privacy landscaping, and other safety features. Home automation systems are often important for high-end buyers to allow them to control everything from lighting to security systems with the touch of a button.

Two Homes, One Roof

These days, millions of Americans live in multigenerational homes and this includes many affluent homeowners who want lifestyle solutions that bring their family together for daily engagement while allotting space for privacy and independence. As this trend becomes more prevalent among luxury buyers, high-end homes now include guest suites with separate thermostats, private living quarters, and personal entrances for extended family members or live-in staff.

Location, location, location!

This one never gets old. While location has always been an important factor in real estate, luxury buyers are increasingly looking for properties that offer unique locations, such as waterfront homes, mountain retreats, and houses located in exclusive neighborhoods. Beach and mountain towns are the ideal areas to enjoy more space and privacy, allowing homeowners to feel like they're on a never-ending vacation!

The luxury real estate market is constantly evolving, with new trends emerging as the demands and tastes of high-end buyers change. These homes offer the best possible living experience and therefore often come equipped with a wide range of amenities designed to provide comfort, convenience, and relaxation. To an affluent homeowner, their splendid home ultimately becomes a symbol of them.