What to Expect for Luxury Real Estate This Year

At the beginning of every year, there are new trends, styles, and designs that make their way to the forefront of popular taste. In the real estate industry, luxury real estate is usually the first to test out new trends and designs before the traditional market. Whatever doesn't make a name in the luxury real estate will probably not get into the traditional real estate market either.

The average cost of getting a luxury home increased with about 4.7 percent in the last quarter of the previous year, but the trends and features associated with such homes remained the same. This year expect an increase in the cost of buying a luxury home, but these homes come with more sophisticated trends and features. Most of these features are deemed a necessity and no longer exclusive to luxury homes.

Techy Homes

Technology has come to stay in luxury homes because millennials are the ones dominating the luxury real estate market. In 2019, expect technology as one of the essential features in every luxury home. Smart apps, cameras, remotely controlled gadgets, etc. are all necessary items every luxury home should have in today’s market.

Privacy

Privacy is a feature that is non-negotiable especially among celebrities and high net worth individuals. You pay a higher price to get a home that keeps neighbors and prying eyes away. Your home is your abode, and you should be able to wind down without being worried about anyone walking to your front door unannounced. Individuals who own luxury homes want privacy with aesthetically designed gates, hedges, and walls. 

Smaller Pools

A pool is an essential package that comes with owning a luxury home, but homeowners do not want pools that take up most of the backyard space. The trend for this year are pools that look like glorified Jacuzzi pools that should serve a purpose. A pool is essential, but it should be smaller.

Upscale Design Bathrooms

Luxury homes for this year would incorporate spa-like bathrooms with floor-to-ceiling windows that would allow homeowners to have a magnificent view of their surroundings. Gazing out your window at the picturesque view outside while having a bath or shower is soothing. The expansive windows would allow natural light in and allow for natural ventilation.

Smart Security

Security like privacy is non-negotiable. Most luxury homes come with remotely controlled gadgets like lights, pools, fireplace, air conditions, security cameras, window blinds, televisions, etc. all controlled from your iPad or phone. There are also safes in these homes that are smart technology for keeping valuables and unlocks the same way you open your phone. 

What is trendy will change throughout the year, but it always promises quality to the luxury real estate market.