Key Features Of Dream Luxury Homes Cited

August 30, 2008

An increasing number of prospective homebuyers are seeking a true dream home - specifically, a multimillion dollar residence located on a picturesque island and loaded with amenities. As for location, a recent survey revealed that 27 percent of buyers want a luxury home situated on an island and 22 percent want it to be located in a rural-country area. Others expressed a preference for a location in a suburban area, an international destination, or a luxury unit in a high-rise development in a city, in that order.

The survey was conducted by a major International brokerage firm and ICR. It revealed that high-end homeowners are particularly optimistic about home values, with a strong majority (85 percent) of them expecting the price of their homes to increase over the next five years. That’s a sharp increase from the 66 percent tallied in last year’s survey. Also, four out of five of these homeowners surveyed believe the increase in value will be "significant" or "moderate."

"Key findings in our survey of the luxury market demonstrates that the typical million-dollar homeowner is invested not only in the value of their home as a current part of their portfolios, but also see long-term gains coming from this investment" . "It’s interesting to note that while 44 percent of those surveyed indicated they plan to stay in their primary residence for at least 10 years, they also dream of owning the perfect home."

"Must have" luxury amenities cited by respondents include designer kitchens, formal landscaping, water views, customized home entertainment centers, swimming pools, indoor gyms and wine cellars. In the area surrounding their house, respondents cited a variety of desired amenities including a boat dock, putting green, and tennis or basketball courts.

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