The vast majority of luxury homebuyers used an agent, are willing to give up square footage for an amenity they want and wouldn’t live in a home that isn’t tech-friendly, according to a survey commissioned by Better Homes and Gardens Real Estate.
The online survey of 500 affluent homebuyers, conducted by Wakefield Research between May 20 and June 4, also showed that most luxury homebuyers believe homeownership is a more sound investment than the stock market, would rather live in a “smart” home than a “green” home, and would rather have an upgraded home than more square footage.
“The luxury consumer is considered a trendsetter in most industries, and to see the strong connection this consumer has with ‘home’ is very significant as we look at the real estate market as a whole,” said Sherry Chris, president and CEO of Better Homes and Gardens Real Estate, in a statement.
Luxury homebuyer survey statement
Used an agent for real estate services
Willing to give up 1,000 square feet of living space in their next home for a lifestyle amenity they want
Believe their house is the best on the block
Wouldn’t live in a home that isn’t tech-friendly
Homeownership is a more sound investment than the stock market
Consider a “smart” home more important than a “green” home
Rather have upgraded home than more square footage
Own multiple homes
Homeownership is a bigger indicator of success than their job or title*
Prefer owning multiple “lifestyle” homes to support recreational activities like skiing and theater-going
96%
94%
93%
87%
75%
66%
60%
58%
57%
53%
Source: Online survey of 500 luxury homebuyers between May 20 and June 4, 2013, conducted by Wakefield Research *Of those luxury homeowner survey respondents who have jobs
A majority of the affluent homebuyers surveyed said they used an agent for neighborhood lifestyle insight (65 percent) as a source of advance info for new listings (64 percent), as a go-to source for housing trends (55 percent) and for support through the homebuying process (53 percent).
More survey results:
Luxury homebuyer survey statement
Used an agent for neighborhood lifestyle insight
advance info on new listings; advice on housing trends
personal support through the homebuying process
Willing to give up 1,000 square feet in next home for living in a better neighborhood
a house with “character”
more land
access to dining and entertainment
shorter commute
Consider luxury home “essentials”: garden oasis
outdoor fireplace or fire pit
separate guest house
Percentage of respondents agree
65%
64%
55%
53%
54%
51%
44%
39%
38%
53%
50%
47%
Source: Online survey of 500 luxury homebuyers between May 20 and June 4, 2013, conducted by Wakefield Research
– See more at: http://www.inman.com/2013/09/10/survey-affluent-homebuyers-will-give-up-space-for-amenities/#sthash.zhoBzMAc.WWHCyC8s.dpuf
