How do you describe a luxury home and the features that define it in markets across the country? Since identifying national trends has to be a collaborative effort, I was lucky enough to share a few moments with my friend and colleague, Jolenta Averill, owner of Lake & City Homes Realty, a Madison, Wisconsin boutique brokerage that focusses on luxury property.
I knew she was busy, but she’s also always kind and giving of her time, so she gave me her impressions on what was trending in the Madison, Wisconsin luxury home market …. and beyond? I was hoping a few of her quick points would engage others to add to our list of popular trends in Luxury Homes and to help us identify where these trends are most prevalent. Here is what she said:
#1: Bathroom Fireplaces
In most markets, having a large master bath is a pre-requisite for luxury properties. Finishes and some amenities will differ depending on the area, but one feature that seems to be trending across most markets is the addition of a gas fireplace in the master bath. Sometimes these fireplaces are two sided, so that one side faces the bath and the other faces the bedroom. Flat screen TVs are often placed above on each side.
#2: Outdoor Kitchens
While many homeowners are finding ways to expand their living space by adding outdoor kitchens, I’ve seen outdoor space taken to a whole new level. It’s certainly not just a gas grill and a table. Outdoor kitchens are becoming a true centerpiece of the home and include elaborate features such as running water, gas-operated cooking areas, stainless steel ovens and ranges, stone and granite surrounds, and ample seating. Swimming pools, gazebos and other recreational opportunities are often located nearby in the largest of our luxury properties.
#3: Custom Wine Cellars
Luxury homes often feature custom wine cellars that hold hundreds of bottles and are both temperature and humidity controlled to keep the vino at its best!! Serious wine aficionados are also adding tasting rooms or areas nearby so that the wine doesn’t have to travel far to be enjoyed!
#4: Smart Home Sensors
Smart Home Sensors are showing up in luxury homes on a more frequent basis. With the help of these sensors and a computer, you can easily make the home appear as if it is in use while you are away, control the temperature from afar and monitor any and all of the home’s systems. Or, with just the press of a button, your home will automatically prepare for the night by locking the doors and activating the alarm system for you.
#5: Moveable Walls
Moveable walls help make the most out of the living space, which is particularly important in luxury homes in urban environments, where space is at a premium. With the help of a moveable wall, such as a sliding bookcase, you can close off a room to create a guest room, a study, or a children’s play area when necessary. When the second room is not in use, the main room can remain open and spacious.
Many thanks to Jolenta for putting up with me and lending a little piece of her expertise!
Bethesda (and beyond!), we want to hear from you!
What other trends are you seeing in luxury real estate…or wish you were seeing?
Jolenta Averill is the owner of Madison real estate brokerage Lake & City Homes Realty which specializes in lakefront, luxury, and golf course homes. Visit her Luxury Madison foreclosures page or Middleton homes page or call (563) BUY-SOLD to discuss your unique requirements.