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Features that Attract HNW Buyers

By
Education & Training with Zolo

As the real estate market continues to adjust to higher rates and a slower selling pace, Realtors who specialize in higher-end properties will need to work with their sellers to help position each listing in the best possible way. When working with a seller who wants to target high-net-worth buyers, it’s best to set expectations and prioritize upgrades based on these expectations. 

To help, it pays to understand what luxury segment you are working with before offering insight to potential sellers. For instance, ultra-high-net-worth buyers — those who shop in the multi-million-dollar luxury market — will want a greater ability to customize but, at the same time, also want the inclusion of more high-end features, such as in-home spas, indoor sporting facilities, among other features.

Realtors working in the larger luxury market sector — the market that attracts rich, soon-to-be-rich, and aspirational buyers — can help steer their sellers to comfort home amenities that are in most demand. For a short, generalized list, consider the following: 

Location: High-net-worth buyers tend to prefer exclusive locations with stunning views and privacy. They often look for properties that are in close proximity to top schools, high-end shopping, and cultural attractions.

Smart home technology: Technology is important to high-net-worth (HNW)buyers, and they often look for homes with smart home systems that allow them to control their homes from their smartphones or tablets. This can include things like automated lighting, climate control, security systems, and home entertainment systems.

High-end appliances: Luxury appliances like Sub-Zero refrigerators, Wolf ranges, and Miele dishwashers are often a must-have for HNW buyers. These appliances are not only functional, but they also add to the overall aesthetic of the home.

Spa-like bathrooms: Bathrooms are an important part of any home, but for HNW buyers, the bathroom needs to offer a spa-like experience. This can include features like heated floors, steam showers, Jacuzzi tubs, and high-end fixtures.

Outdoor living spaces: HNW buyers often enjoy entertaining and spending time outdoors. Homes with large outdoor living spaces, including outdoor kitchens, fire pits, and swimming pools, are often a top priority.

Wine cellar: Many HNW buyers are wine connoisseurs and want a dedicated space to store and display their wine collections. A climate-controlled wine cellar is often a sought-after feature.

Home theatre: For those who enjoy movie nights at home, a home theatre is a must-have amenity. HNW buyers often look for homes with a dedicated theatre room that has high-end sound and video systems.

Private gym: Health and fitness are important to many HNW buyers, and having a private gym in their home allows them to work out in privacy and convenience. A well-equipped gym with high-quality equipment is often a priority.

Overall, Realtors working in the HNW buyers' market need to consider what will attract these buyers and keep them from under-valuing a property. Most HNW buyers are looking for a luxurious and comfortable lifestyle that is supported by high-end amenities and features.

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Wonderful points made, thanks for the post.  Have a great taco Tuesday. Bill Salvatore / Arizona Elite Properties

May 02, 2023 07:04 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Romana and great information to share with us here in the Rain.  Make it a great Tuesday!

 

May 02, 2023 07:56 AM