The way that we view and value our homes has radically shifted over the last year. For luxury homeowners in particular, new priorities and preferences have quickly emerged, but it’s only fair to wonder which ones are here to stay? With this in mind, let’s take a closer look at a few of the most popular trends to recently emerge in the high-end sector.
Extra Square Footage
For years, many buyers were looking to downsize from their previous residence, but that quickly came to an end as an abundance of space instantly became one of the greatest luxuries you could have. In the short term, buyers will likely continue to seek out larger homes than they would have just a year or two ago, but in the long run, it’s safe to assume that people will want to scale down to residences that are more intimately sized, easier to manage and have a lighter impact on the environment.
Home Office Is a Must
The home office was thrust into the spotlight overnight and that won’t be going away any time soon. Remote work is here to stay and, as a result, couples will increasingly require that their next house have at least one well-designed office space. In all likelihood, two separate workspaces will become a standard feature in the luxury home in a short time.
Urban Flight
The suburbs had their moment, but as we inch back to normalcy, it’s fair to say that urban flight will not be a long-term trend, even if remote work is. It’s no secret that the past twelve months have been a challenge for urban real estate markets, but there’s reason for optimism, nonetheless. In recent years, artists, musicians and so many others who contribute to cultural identity have been priced out of cities. Should prices become more affordable, it can pave the way for an urban renaissance in places that badly need it.
New Appreciation for Outdoor Spaces
A spacious backyard, a rooftop terrace or even a simple balcony has taken on added importance. Chances are, this won’t be going away anytime soon, as so many people have rediscovered the true value of immersing themselves in nature over the past year. For this reason, we can expect well-appointed outdoor spaces to remain a must-have feature for many homebuyers.
