By Jeff Manning
The COVID-19 pandemic has reshaped how we think about real estate and office space, and this is especially true for luxury home buyers. It has allowed us to reimagine the importance of our homes and how we want to live. At Luxea Global Auctions, we have recently seen a few trends happening in the luxury real estate market around this shift. Here are six we think should be on your radar.
Migration Patterns Showing Massive Moves
Current migration patterns show people moving away from big cities and seeking property where they can pay less in taxes and get more real estate bang for their buck. Luxury home buyers no longer need to be near the office in a large, expensive city. Instead, they can use the money they would spend on a condominium in a metropolitan area toward a larger home and property in a more rural one.
Luxury Home Buyers Match Their Homes To Their Hobbies
Like horses? Want to garden? Enjoy fly fishing? As more people work remotely, more people want homes that match their lifestyles and hobbies. At Luxea, we use insights from social media and other digital tools to help match luxury home buyers with the right home that fits their favorite activities. We can help them find a homestead in upstate New York, an estate with a home office overlooking an equestrian pasture from Central Oregon, or a spacious compound on Salmon River in Idaho for avid anglers. For luxury home sellers, our auction process, marketing, and technology facilities a smooth, predictable, and profitable sale by finding precisely the right buyers.
Home Amenities Are More Important Than Ever
The more time people spend at home, the more they want to have beautiful offices, gyms, and gourmet kitchens within arm’s reach. As this giant shift to remote work may become a long-standing reality, sellers with homes that include these amenities can be in an extremely profitable position. At Luxea, we amplify that advantage by holding a luxury home auction that helps sellers auction their home easily, quickly, and profitably.
Creating Space For Furry Friends
Animal shelter adoptions have skyrocketed since the remote-work revolution of the pandemic. As people change their lifestyles to make room for animal companions, the space they need changes as well. After all, doesn’t Fido need a room with a view, too?
Falling In Love With Nature All Over Again
As people realize they don’t have to live in urban centers and can move out to the country again, many are experiencing a rekindling with nature. They’re seeking landscapes and surroundings that fit their expansive dreams, like the saguaros in Sedona, waterfalls in Olympia, or fall-colored forests in Burlington.
Living Closer By Choice
We have recently seen the trend of intentional communal situations in luxury co-living. This runs the gamut from families who want to be closer, to long-standing groups of friends purchasing hundreds of acres of land to build properties near each other.
As the world continues to adjust and adapt to the pandemic’s long-lasting changes, luxury buyers and sellers will also change how they view real estate. Through it all, we’re all learning how vital home really is. Wherever you are, and wherever you want to be, at Luxea, we want to help you find exactly what you need exactly where you need it. To learn more about Luxea, and how we can help luxury home buyers and sellers, click here.