Realtor.com surveyed 1500 site visitors about their high-end home search. According to the survey, 13% of respondents said they are ready to buy a luxury home and another 26% are considering a luxury home purchase. With an increasing percentage of buyers eyeing luxury homes, seller, builders and Realtors should be paying attention to desired luxury amenities.
Most important home features when considering a luxury purchase:
- 54% of luxury buyers indicated a chef’s kitchen as an important feature;
- 44% consider the home’s views of oceans, mountains, or cityscapes as significant;
- 38% responded that the square footage of the property is key attribute;
- 36% included the presence of an expansive master suite as an important factor.
Biggest challenges of searching for a high-end luxury home:
- 40% of luxury buyers cited finding a property that meets their family’s needs;
- 20% shared their biggest challenge is the limited number of properties offered;
- 11% tout ultra-unique properties with limited universal appeal;
- 8% are challenged by gaining access to mortgage loans.
What prompted their luxury home search:
- 19% shared that recent career success prompted their home search;
- 17% of luxury home buyers indicated they entered the market because they are newly retired;
- 14% indicated that they are entering the market as an investment;
- 12% revealed they have entered the market to buy their first home.
Source: "Realtor.com Survey: 13% of Consumers Ready to Buy a Luxury Home" realtor.com®