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The changing face of luxury real estate

posted by: Mike in Home Trends

Luxury is going low-key, in addition to focusing on details closer to the heart of the home, according to a recent report from the Institute for Luxury Home Living, an organization that tracks industry trends.

The changing face of luxury real estate has slowly turned its focus over the past few years to the point that a definite trend has emerged that recognizes the importance of amenities that address the overall well-being for a home’s residents.

Among affluent home buyers, large estates and mega mansions are no longer optimal goals. In fact, the younger generation (especially Millennials), are shying away from this type of home ownership in favor of investing in discreet residences while instead investing much of their money invested in design, décor and other upgrades that support physical, emotional and social wellness. One ‘must’ I often hear from clients here in Arlington is the inclusion of eco-friendly fixtures and fittings that enhance both well-being while also being both environmental and budget friendly.

On the other hand, in an era where frugal mindsets and eco-conscious living is growing in popularity, opulent statement homes and massive square footage aren’t appealing to as many homeowners. That’s where low-key luxury comes into play. No matter the location, it’s always possible to customize the interior of a home to fit each homeowners’ personal physical, emotional and even spiritual needs without creating homes that could be seen as wasteful or overdone.

{See: The secretly stylish home next door}

Improving health and wellness isn’t anything new, and it’s no surprise that a focus on this is now permeating the industry to the point that it affects how home buyers and sellers are operating in today’s market. According to a recent Global Wellness Economy Monitor report, real estate that incorporates intentional wellness elements into its design, materials and building is quickly growing. There are now more than 740 wellness real estate and community developments built or in development across 34 countries – a number that grows weekly.

{See: How home design is changing to support better health and wellness}

As an experienced real estate agent in the luxury market of Arlington, Virginia I’ve noticed these trends building over the past year and affecting both buyers and sellers in our market. Trends don’t necessarily translate to being “trendy,” and it’s important to engage a Realtor you can trust who knows the difference and is able to help you navigate today’s real estate market. If you’re ready to buy or sell in the Arlington area, give me a call at 703-593-6320 or email mike@mikesellsvirginia.com. With more than 30 years of experience working and living in this area, I can provide insights, connections and resources that will be invaluable to your success.