I’m a Luxury Real Estate Agent: My Wealthy Clients Demand These 9 Home Features
When it comes to real estate, the average buyer generally prioritizes everyday living necessities and amenities over anything else. This often includes things like an open floor plan, enough closet space, plenty of lighting, modern appliances and rooms enough for their family.
But for those with money to spare, there are certain features that would seem excessive in all but the most expensive homes — but that are absolute must-haves for the wealthy.
GOBankingRates spoke with two luxury real estate agents — Larry Mastropieri with The Mastropieri Group and Jared Blumberg with the Blumberg Werner Group at Compass — to find out what their wealthy clients demand in a home. Here’s what they said.
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Comprehensive Smart Home Automation
“As a luxury real estate agent catering to an affluent clientele here in South Florida, I’ve observed that they often seek not just homes, but personal havens that exude exclusivity, comfort and, at times, lavishness that aligns with their lifestyle,” said Mastropieri.
One of the top features his wealthy clients often demand is smart home automation — that is, convenience at the touch of a button.
“This includes advanced home automation systems that control lighting, climate, security systems and even window treatments,” Mastropieri said. “The most advanced systems are seamlessly integrated and can be controlled from anywhere in the world via a smartphone.”
Advanced Security Features
Smart home technology can add to home security, but high-end buyers generally take this a step further and seek out homes with advanced security and privacy. According to Mastropieri, this includes things like gated entrances, safe rooms, security cameras and even biometric safes.
Other in-demand features include 24/7 security, private parking garages, doormen-only entry and discrete ways to enter the building without attracting too much attention. All of this might seem excessive in your typical neighborhood, but it’s much more of the norm amongst the wealthy.
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Designer Kitchens
“A fully equipped chef’s kitchen with professional-grade appliances, spacious countertops made of high-end materials like quartz or marble and custom cabinetry is a must-have,” said Mastropieri. These kitchens generally have walk-in pantries — not terribly unusual for average buyers — as well as built-in espresso machines, wine fridges and the like.
According to Angi, a typical designer kitchen can cost up to $31,687, depending on the amenities, materials and size of the space. Prices can go much higher for those seeking true luxury, however.
Spa-Like Bathrooms
Kitchens aren’t the only room in the house that needs to speak of convenience, elegance and luxury. The bathroom does, too. And for the ultra-rich, this can easily add tens or hundreds of thousands of dollars to a home.
“The bathrooms are expected to be lavish retreats with features like large soaking tubs, steam showers, heated floors and towel warmers,” said Mastropieri. “Some might include a small sauna or a Jacuzzi for that spa-like experience at home.”
High-End Renovations
In many parts of the world, especially in expensive neighborhoods like Manhattan, New York, wealthy homebuyers often seek new constructions or newly renovated buildings with the highest quality materials and updates.
“The ultra-wealthy have expensive taste and can see right through an inexpensively done renovation,” said Blumberg. “They want it to be modern, stylish and [featuring] top-of-the-line brands.”
Prime Outdoor Living Spaces
Outdoor living is huge for many homebuyers, not just the wealthy. But those with the means tend to opt for more customized and luxurious outdoor living spaces.
“Wealthy clients often desire sophisticated outdoor living options such as fully equipped outdoor kitchens, infinity pools, manicured gardens and expansive terraces with panoramic views,” said Mastropieri. “These are designed for hosting and entertainment.”
Convenient Water Access
This one depends on location, but for Mastropieri’s high-end clients in Florida, water access is an absolute must.
“Particularly here in South Florida, we see requests for oceanfront homes or properties located on a deep water canal with ocean access,” he said. “Ideally, in a no-wake zone with [an] updated sea wall, and large water frontage (over 100 feet) for private yachts. Additional boat lifts for jet skis and smaller fishing or cruising boats as well.”
Full Amenity Package
Homeownership isn’t just about the property itself — it’s also about the amenities that come with it.
“The amenity package needs to be luxurious and thoughtful as well,” said Blumberg. “They want world-class gyms, with spa amenities, indoor pools, golf simulator rooms and private clubs with world-class Michelin-star dining programs from well-known chefs.”
Mastropieri added that his wealthy clients often seek out things like home theaters and wellness centers with massage rooms and meditation spaces.
Other Bespoke or Personalized Features
In real estate markets where luxury is the norm, such as in South Florida where Mastropieri’s clients are, bespoke is the name of the game.
“Bespoke features that cater to the clients’ hobbies or interests, like a private library, an indoor basketball court, a music studio, an art gallery or a large garage with climate control and lifts for a car collector, are some of the more personalized requests,” he said.
These types of features — as well as many of the others on this list — may be considered excessive in a typical home. For the wealthy seeking true luxury, however, they’re relatively standard. Not only do they offer maximum comfort and convenience, but they also serve to make a statement about the individual themselves.
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This article originally appeared on GOBankingRates.com: I’m a Luxury Real Estate Agent: My Wealthy Clients Demand These 9 Home Features
