Luxury homebuyers are willing to pay top dollar for the amenities they want, but they’re very selective, Realtor Jonathan Pressman writes. Here are the most sought-after amenities this year.
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As luxury home prices soared to an all-time high in Q2 2024, according to Redfin, high-end buyers were active, paying little mind to relatively higher interest rates.
Kiplinger reported that nearly half of luxury homebuyers in 2024 purchased using cash. Although luxe buyers weren’t afraid to pay top dollar, they were often very selective, particularly when evaluating a home’s amenities. Although wellness spaces are likely the most sought-after amenities among luxury buyers in 2024, other important features include smart home integrations, eco-friendly upgrades and indoor-outdoor living spaces.
Wellness and lifestyle spaces
The trend of “health as the new wealth” has grown exponentially since the COVID-19 pandemic shuttered gyms, spas and other wellness centers. Luxury buyers continue to seek out these spaces in their home search, making fitness centers, spa-like bathrooms, massage rooms, cold plunges and other wellness and lifestyle spaces one of the top high-end home amenities.
Fitness centers
High-income earners choose to exercise at home more often than at the gym, generating more demand for in-home fitness centers among luxury buyers. Home gyms aren’t a novel idea, but the pandemic fitness craze caused millions of Americans to buy at-home exercise equipment or build home gyms. Today, luxury buyers want the option to exercise at home, making fitness centers something of a necessity for luxury homes in 2024.
Luxury, spa-like bathrooms
Forget taking a trip to the spa — luxury buyers want the at-home spa experience every time they step into their bathroom. Wet rooms with freestanding tubs, heated floors, backlit vanities and digital shower systems are a few of 2024’s bath amenities high-end buyers love to see.
Massage and meditation rooms
Massage rooms, meditation rooms and zen gardens are other wellness-themed amenities attracting luxury buyers. With the rise in mobile massage services (34 percent of massage therapists reported working from their client’s homes), luxury homebuyers are increasingly interested in dedicating rooms and spaces in their homes to destressing.
Saltwater pools and cold plunges
Though the pandemic pool boom is over, luxury buyers are still interested in saltwater pools and cold plunges. Celebrities, longevity experts and successful business leaders often tout the benefits of cold plunges, while saltwater pools appeal to high-end buyers because they’re gentler on the skin, hair and eyes.
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Eco-friendly, energy-efficient features
Sustainable living has emerged as one of the leading trends in recent years. LEED-certified homes consistently sell faster and for higher average sales prices than comparable non-green homes and are more energy efficient and environmentally friendly.
In urban markets, green roofs are a more sustainable roofing solution and offer the added benefit of a private outdoor space. From sustainable building materials and native landscaping to insulation and EV charging, these and other eco-friendly, energy-efficient features now get the nod of approval from luxury buyers.
Smart-home features
Home hubs, high-tech security, smart appliances and automated lighting controls are just a few of the integrated smart-home features luxury buyers are looking for in 2024. As the global smart-home market swells, luxury buyers have embraced artificial intelligence (AI), favoring integrated convenience and automation features.
Indoor-outdoor living spaces
Dinner parties are back in vogue, and indoor-outdoor living spaces are becoming one of the top amenities luxury buyers have their eye on when shopping for a new home. Outdoor kitchens, fire pits and pools are optimal for entertaining and can distinguish one luxury listing from its competition.
Finished outdoor living spaces — like patios, porches and pergolas — that flow seamlessly from the home’s interior can also help create the ideal environment for entertaining or unwinding.
Jonathan Pressman is a Realtor who writes on a wide range of financial topics. Connect with him on LinkedIn and Instagram.