Selling Luxury Homes

Are you selling homes in the luxury market? Who are the buyers you will be representing? The luxury home market is unlike any other real estate market. It caters to those whose incomes are in the higher-end pay scales; those buyers who want something special and can afford it.

People investing in luxury homes are, predominantly, not affected by the rising interest rates---something other home buyers will be considering. As a matter of fact, the luxury home market is doing very well and there has only been a slight lowering of sales on the lower end luxury market.

People buying luxury homes are looking for something a cut above, and they want the amenities in the home to reflect the leisurely lifestyle they are living. These buyers have specific requirements in the homes they buy, such as elaborate security systems, gourmet or designer kitchens, home theaters which seat six or more and even wine cellars. They also are willing to do extensive remodels on their current homes and property to raise the value. They want furniture and décor to match their lavish lifestyles and in addition they own expensive cars and jewelry.

The families moving into high-end luxury homes are looking for comforts that reflect a lifestyle of wealth and leisure. They are looking for exclusivity and want homes with private country club access, golf course or tennis clubs. Since buyers in this market are traditionally families with incomes upwards of $500,000 per year, they are more likely to pay attention to lifestyles which afford them personal attention and provide recreational priorities.

Many have traveled internationally and a large percentage of those will have traveled first class or by private jet. They desire shopping in boutiques which accommodate the homeowner who has everything.

Many purchasing in the luxury home market are searching for their second or third home. Owning a vacation home in Hawaii or Aspen is not uncommon. The buyer is looking for a neighborhood with class and refinement.

Million dollar home owners are often younger baby boomers who work for large companies and earn around $500,000 per year or more. They care about health and recreation and many treat themselves to spa visits regularly.

Remember, rising interest rates don't mean much to those who can afford luxury homes. They are willing to pay for the finest amenities and unique features to suit their luxurious lifestyle.