Whether you are hoping to get into the luxury real estate market, or you already own a luxury property, this year is already shaping up to be a rather robust and exciting one. With that said, there are a number of trends that are also presenting themselves, causing buyers, sellers, and real estate agents to stop and take notice. While the luxury market is still, at the core, just about buying and selling property, it does have its own unique features that don’t always coincide with the non-luxury market.
So, here’s a look at three real estate trends that are specific to the luxury market for 2021.
The Inclusion of a Home Office Space
Here’s a trend that wasn’t predicted just a year ago, but now that the world is more than a year into the COVID-19 pandemic homeowners are seeing the value in home office space. Even with vaccines being administered across the country, people have already shifted their mind-set and started to realize that working from home is not only possible but may be the smartest option moving forward.
A home with a dedicated office space has now climbed up the list of priorities for many buyers. This will impact how sellers stage and present their homes, and they may want to make it obvious as to which space could be used as an office.
Virtual Staging Is Having a Real Moment
Where it used to be that physical staging was the norm when it came time to sell a luxury property, today’s homeowners and real estate agents are starting to see just how convenient, and frankly effective, virtual staging can be. There is no need to physically move out existing pieces and replace them with trending items, there’s no need to change up wall colors, and tweak the garden and lawn, instead all of this can be done with a few clicks of a mouse and high-tech software.
Virtual staging can literally transform a space, brighten it up, make it appear more modern and trendy, and really appeal to buyers. You can check out sites like bariondesign.com for a better look at what’s possible when it comes to virtual staging.
Second Homes Continue to Trend Upwards
Here’s a trend that isn’t new, rather it will continue into 2021. The demand for a second home or a vacation home hasn’t waned; in fact, if anything it has only grown. Luxury homeowners are looking for a retreat they can escape to on weekends and in the summer; their own piece of “resort life” if you will. Now that doesn’t mean the house has to be located on a beach, but it does need to feel luxurious, modern, relaxing, and like a true escape from everyday life.
The luxury retail market truly is its own beast and quite separate from the more traditional market. With that said, there are some very specific trends that are looking big for 2021 and that will likely carry on into 2022.
