Five things wealthy buyers look for in a luxury home
It's the (multi) million-dollar question: what do high net worth buyers look for when buying a home? From multicar garages that double as showrooms to state-of-the-art security systems, here are some of this year's biggest trends for luxury buyers.
Forget the basic two-car garage. Modern buyers are looking for multicar garages that will showcase their supercar collections. Part garage, part art gallery, the spaces are designed to highlight the owner's top vehicles. Occasionally, a house may even come with a collection of cars — as is the case in this $US250 million home (about $A326.7) in Bel Air.
Expansive master closets
Gone are the days when closets were small, confined spaces. Today's high-end buyers are looking for giant walk-in closets that can accommodate their designer bags, shoes, and clothes. His-and-her closets that function as separate dressing rooms rather than small storage facilities are becoming a big draw in multimillion dollar homes.
Discerning home buyers are increasingly looking for onsite facilities that allow them to entertain guests without leaving the premises. (Case in point: this Florida estate, which boasts an ice-skating rink, go-kart track, IMAX theatre, casino, and nightclub.) Bespoke recreational spaces that adhere to personal interests (such as indoor basketball courts and bowling alleys) are one of the year's hottest trends.
In bygone days, owners protected their properties by building moats or walls. Today's buyers have access to high-tech alternatives such as outdoor surveillance cameras with night vision, fingerprint recognition systems, and bulletproof safe rooms. Safety is a big concern for high net worth buyers, which means that most multimillion dollar homes now feature state-of-the-art security systems.
Multimillion dollar clients are often looking for spacious yards where they can host parties and barbecues. Accordingly, summer kitchens equipped with top-of-the-line appliances, built-in barbecues, pizza ovens, and sinks are a big bonus. Summer kitchens blur the lines between indoors and out, making it easy for residents to throw parties all year long.