We remember when “high end” meant more than three bedrooms and one and half baths along with perhaps a swimming pool on more than one acre. Many Baby Boomers remember when affluent meant their homes had two to three car garages and the latest and best appliances money could buy. Today, however, there are three separate generations seeking high end homes. All three generations seek high end homes for different reasons, but they all have one thing in common. It’s about lifestyle changes. It’s about location as well, but not location as it has always been described. Times have changed and their thinking has changed with it.
Presidents come and go, recessions happen and improve and the real estate market has its ups and downs. Each decade introduces new technology with which to make our lives, our business and our pleasure easier. Medical innovations now include wearable technology to help with our physical comfort and/or rehabilitation. Our personal safety has never been more assured due to intruder alerts, home automation and medical alerts. The present times are more exciting than Baby Boomers can remember, while Gen Y had a hand in bringing these innovations to birth. Millennials carry the baton in devising future wonders. High end home buyers have come to expect these and more innovations in houses. They don’t necessarily want luxury for luxury’s sake, but to enjoy their lives from a place of balance.
Baby Boomers are looking back to the years in which they were young, doing a job they enjoyed, their children were young and life was satisfying. These searchers are looking for properties in areas they loved as young people. The Gen Y consumers are now the 30 year olds out in the working world. They seek a good spot in which to raise their children and make the memories about which the Boomers reminisce. The Millennials are those just exiting college and making their mark on the world in general. All seek privacy in which to live in comfort, relax and play. Some are entrepreneurs who work from home. They, too, seek accommodation they can live with.
Seekers of high end homes might not look for a place they enjoyed in the past. They might follow their dreams to move to a place with sandy white beaches, stunning sunsets and warm salty breezes. Other seekers might move to areas where the money is better, the best medical facilities are nearby or to areas in which they simply feel like living. Estates buried under trees with gated drives are popular as well as walled compounds ensuring privacy. Sometimes it’s not even about location, but about an area that chooses the seeker instead of the other way around. We’ve shown properties to searchers not even interested in our stretch of California; the property just grabbed them and they were sold, you should pardon the pun.
Another facet of the high end home seeker is that s/he wants the best and is willing to wait until the best appears. These seekers have a positive idea what they want and when they want it. Cash buyers have also been on the rise in the past few years. When the best becomes available, price no longer matters. These are the people who no longer need to look for deals unless they can find one on a second or third home. Many wait until a home reflecting their lifestyle changes manifest themselves. For some, the area in which they settle is the lifestyle they want.
Orange County is the location and the lifestyle you’re seeking. The Feldman Group is the agency you’re seeking. Guiding you through the searching process with integrity is our passion. Contact us for more information.