The luxury homes of the future may look much different than they do today. The change in the needs and desires of the consumer has altered greatly since the COVID-19 pandemic began. Today, people want luxury, but they also demand safety.
More Remote Locations
The ultimate luxury location was once in the most active sections of metropolitan neighborhoods. The coronavirus lockdowns left many people stranded within the confines of their homes. Those who lived in urban areas were unable to leave their buildings, and compromising safety when they did. Homebuyers will not forget that lesson soon, and it shows in the luxury market as investors seek out suburban homes with private yards.
Lower Residence Address
The penthouse of any high-rise has historically been the most desirable location. Home shoppers now dislike the idea of long elevator rides where they may need to stay in a confined area with strangers. People now feel more comfortable with homes that exit immediately outside or are on a low enough floor for them to take the stairs. An exception would be extremely lavish apartments with private rooftop terraces and elevators.
Added Touchless Features
Touch-free door locks and elevator control panels also rank high on the list of preferences. The possibility of germs existing on the surfaces of all communal areas has become a serious concern. Elite shoppers now consider safety to be the ultimate luxury.
Increase in Independence
Large pantries, well-planned kitchens, and extra storage space in closets and laundry rooms also top the list of luxury necessities. People want to stay home in comfort and use fewer services where they may encounter other people.
Different Desirable Materials
Granite and marble were once requirements in any luxury home. Today, copper is the premium material. Copper fights germ naturally, so the homeowner has fewer worries about contamination. Copper counters and countertops made from other antibacterial and antimicrobial surfaces are expected to increase in popularity. Homeowners want protection against any germs brought in with them on handbags, grocery bags, and other items often set on countertops.
The luxury home market will not suffer but it will change. The switch may benefit less wealthy home shoppers who will discover the home of their dreams is now affordable. The change could also bring a boom to the redecorating industry as wealthy homeowners choose to upgrade their current residence rather than move.