High end luxury home buyers are considering smaller, more compact homes, but are not giving up completely on some of the elaborate finishes and features they want in their homes.
The use of exotic woods, (such as teak and bamboo) for their custom cabinetry and built-ins, as well as green or sustainable materials are on the list of requested materials used in new construction and remodels according to the latest trends in new construction.
Creating your own "Spa Bath" is high on the list with luxury clients even requesting Warming Drawers installed into their custom cabinetry in the bath to warm their towels, combination bathroom mirror/TV's transform from a mirror to LCD TV; or a Chromatherapy Whirlpool bath that combines the comforts of a whirlpool with underwater "light-therapy" called Chromotheraphy. Personal sauna's have also come a long way in design from the dreary looking box designs.
Making use of every inch of space in the home is extremely important with both new home buyers and re-sales. This transcends into the garage as well as outdoors. Garages are being outfitted with custom cabinetry, high-tech equipment, and sound systems, and enhancing the outdoor areas around your home not only amplifies your living area, but helps to create ambience.
Beyond price discounts, beyond curb appeal, what sort of improvements can a seller undertake that will substantially increase the value of a luxury home?
Tony Weremeichic, Principal with Canin feels that "buyers are looking for upgrades that are classic, add long-term value and will hold up over the next 10 years."
"This growing trend to downsize seems to be catching on, but what might be sacrificed in square footage, is not being sacrificed in practical solutions that meet the demands of today's consumer centric lifestyle and will substantially increase the core value of a home", says Canin.
Manufacturers of high end consumer products are working hard to meet the demands of today's savvy budget conscience consumer even in the luxury or high-end market.
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