Sometimes you think you know exactly what buyers want, but then you talk to your real estate agent and you learn differently. Part of our job is to be aware of the latest trends and desires of luxury home buyers – what do they really value this year? Is it the same as last year? These are the questions that go through our heads. When we saw the latest study, the PulteGroup Home Index, we were interested in what buyers had to say.
We were not so surprised at what buyers said they want, but at what they said they were willing to give up in order to have something else they really wanted in a home. Almost half of all new buyers would give up being near public transportation, and 35% would give up being walking distance from schools and stores. They would give that up for homes that have his and hers closets in the master bedroom and a spa-like master bathroom, a large kitchen and a kitchen island, and bathtubs in the bathrooms rather than just shower stalls. More than half of buyers want their home to be larger than the previous residence they had. Some luxury buyers were even interested in “spice Kitchens” – separate cooking areas with a Wok, different from the main kitchen and inspired by Asian lifestyles.
More than that, they want an efficient use of space, nicer kitchens and bathrooms, and they will sacrifice other things to get them. This is important news for people remodeling their homes, or thinking of selling, so keep these tips in mind so your property will be the most attractive to new, young buyers looking for luxury property in the South Bay.