When you hear the words "luxury home," you might think about castle-like mansions surrounded by tall gates and equipped with stone fountains, glistening pools, private tennis courts and giant home theaters.
2020 is expected to be a strong sales year for luxury properties, with the market recently seeing its first gain since 2010. But the previously mentioned features of traditional luxury homes aren't necessarily what current high-end buyers are looking for. Here are four features to keep in mind when designing and building a home that will attract today's luxury buyers.
Luxury buyers expect much more than a standard kitchen. Instead, they're looking for high-tech, high-quality kitchens fit for a chef. Homes with chef-inspired kitchen features may actually sell for more than expected. Luxury home buyers want appliances that perform just as great as they look, suiting their every culinary need, whether that's chilling wine, steaming vegetables or keeping dinner warm while they finish baking dessert. Many high-end buyers are looking for homes with double the appliances - two ovens, two stoves, two dishwashers - to streamline cooking, entertaining and clean-up. With 34 total range configurations, luxury appliance brand JennAir® offers high-end, professional-style ranges and stoves in two design expressions, and with features that help make entertaining a seamless experience.
High-end homeowners - especially millennials - have also come to expect connectivity throughout the home, including in their appliances. The term "luxury" doesn't just imply upscale finishes and lavish amenities; it speaks to convenience as well. Being connected to everything from kitchen appliances to security systems gives homeowners complete control of their home with very little effort required. The KitchenAid® Smart Oven+30" Combination Oven with Powered Attachments, for instance, can be easily controlled with the touch of a mobile app or a simple voice command while entertaining guests, and has the power to fry, cook, bake, steam or grill.
When it comes to luxurious home style, homeowners want seamless design because of the clean, consistent look it delivers. Open floor plans are an important element of this style, offering a smooth transition from room to room. With seamless design, appliances shouldn't stick out, but rather blend in with the sleek look of the space. One option is a built-in refrigerator that can integrate seamlessly with custom cabinetry to create a polished style.
A fully-equipped outdoor space
High-end buyers want their outdoor space to have some of the same features as they have inside the home. Instead of a typical backyard patio with a few tables and chairs, they expect the home to include areas where they can relax, host happy hour and cook while watching sporting events. The top amenities for luxury outdoor spaces include a built-in gas grill, a sink, a stainless food prep area, a small undercounter refrigerator and stone patio seating. Homes with outdoor kitchens tend to sell for more money - as much as 25% above expected values.