Luxury Home Owners versus Stock Market Survey – Better Investment Than Stock Market
Existing home sales have been rising along with mortgage rates and cash deals are becoming extremely popular. Much of this growth can be attributed to the luxury buyer, a sector of the market that has the means to make a cash transaction happen, but what exactly are these investors looking for, and how can the REALTOR® be sure to meet their needs?
“In largest luxury owner survey ever, a study reveals multiple homes and high-tech amenities are the new norm for affluent homeowners”
To answer these questions, Better Homes and Gardens® real estate commissioned one of the largest surveys ever done on luxury homeowners, with some surprising results recently released.
The national survey findings from 500 luxury home buyers revealed the value these consumers see in homeownership is a more sound investment than the stock market and 57 percent of employed luxury homeowners believe homeownership is a bigger indicator of success than their job or title.
The luxury homebuyer has high standards and invests the money, the time and the commitment to making their home fit their needs and reflect who they are. It’s remarkable that they do this so well that nearly all — 93 percent — believe their house if the best one on their block.
Wired for Luxury: When it comes to their dream home, a majority (65%) of luxury home buyers surveyed said a “smart” home is more important to them than a “green” home. When house hunting 87 percent of luxury home buyers surveyed would not consider living in a home that isn’t tech-friendly.
But not all “must-haves” are high-tech related. Three of the top five luxury home “essentials” are outdoor oriented including a garden oasis (53%), outdoor fireplace or fire pit (50%) and a separate guest house outside of the main home (47%).
An interesting factor is that next generation and luxury buyers greatly value homeownership, and while both seek out smart homes, position lifestyle amenities over square footage and aspire to own a home with unique character, luxury home buyers are more easily making that dream a reality.
A sample of the high-tech amenity must-haves for luxury home owners were to be able to turn their heat/air up from their iPad before they get home, or they want to make sure that their garage door is closed using their iPad, and managing other electrical devices such as lights or pool both automatically and remotely.
About the Survey
The Luxury Homes Survey was conducted by Wakefield Research (www.wakefieldresearch.com) among 500 luxury home buyers, between May 20 and June 4, 2013, using an email invitation and an online survey.
Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 4.4 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.
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Article: “Luxury Home Ownership versus Stock Market Survey” is brought to you by the Luxury Valley Homes team.