What do wealthy people want when they are buying a property? Naturally, they want many of the same things that everyone else does – a quality home in a good, safe neighborhood. However, according to a survey conducted by Sotheby’s International Realty, they want some very specific things when it comes to their dream homes, which they are actually able to afford. The survey took information from rich buyers in four different countries – Brazil, China, the United Kingdom, and the United States.
The Features of a Great Home According to the Affluent
The survey found that the wealthy in those different nations had slightly different ideas of what would constitute the perfect property. Namely, those who were from Brazil wanted a smart home, which is a home that features lighting, heating, and electronic devices, such as a television that you can control through a computer, tablet, or even a smartphone.
Those who were in China wanted a home that had plenty of space for a display of various types of art collections. Those in the United Kingdom had a penchant for properties that had some type of historic significance. Those who were in the United States wanted a lifestyle property that was on the waterfront. They also wanted to have a large enough garage for a collection of cars, and they even wanted to have input into the design of the home.
It turns out that homes on the water are actually rather important for most people who want to buy a new home, and who have the money to buy the type of property they want. As they say with real estate, it’s all about location, location, location. Being near the water was one of the top requirements, or desires, of people in all of the surveyed countries.
Of course, in addition to the location and the features of the home, wealthy buyers also wanted something that would give them a good return on their investment. The ROI was a key factor when it came to choosing a property. Those who are wealthy know how to stay wealthy and make money, so they tend to put their money into properties that are going to help make them money if they sell down the line.
Many said they did not intend to sell a few years later though. Instead, they were looking into buying legacy homes, which are homes that they could pass down through their family.
Luxury Leads the Way
Several years ago, the real estate market took quite a hit, and it has taken some time for it to start to recover. One of the big factors of recovery during that time though was the luxury market. Many wealthy buyers were still able to buy during those lean years, and they found that it was actually a good investment to do so.
The South Florida region was one of the areas that had suffered during that time, but things are going quite well in the area now. In fact, many of the homes in Miami, Sunny Isles, and nearby neighborhoods fit in quite well with the desires of the wealthy, at least according to Sotheby’s survey.