In today’s evolving real estate landscape, luxury homebuyers are rewriting the rules. According to a recent poll of nearly 60 REMAX luxury real estate agents, affluent buyers are showing a clear preference for turnkey properties, wellness-focused amenities and cash purchases, driven by lifestyle priorities and economic fluctuation.
From Pools to Casitas: Luxury Buyers Want It All
Luxury buyers aren’t just looking for homes – they’re looking for move-in ready luxury properties with high-end features. Agents report that luxury clients expect listings to come equipped with their high-end wish-list amenities, especially those that support indoor-outdoor living and entertaining. According to the poll:
- 93% of agents say pools are the most requested water feature
- 74% cite outdoor kitchens as a top entertainment feature
- 43% highlight glass walls and retractable doors as key design elements that blend indoor and outdoor living
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Yvonne Summerfield of REMAX Kauai Living in Kalaheo, Hawaii, notes, “[Buyers] want to have their own private oasis and outdoor space.” She explains that many luxury listings are “adding outdoor space into the square footage, calling it ‘under-the-roof square footage.’”
When it comes to outdoor amenities, buyers want them ready at move-in. For example, properties with already-completed pools are a must. Maria Holland of REMAX Homes & Estates in Nashville, Tennessee, shares, “Buyers don’t want to take the time to put in a pool themselves.” She’s seen sellers reduce their listing price because they don’t have a pool.
The poll showed that Accessory Dwelling Units (ADUs) were the second most in-demand entertainment feature (38%), likely as a way to add more living space outside of the main home. Holland and Robert Little of REMAX Advantage in Henderson, Nevada, agree that demand depends on location, with ADUs being especially popular in high-tourism markets.
In Nevada, they’re commonly known as “casitas,” while in Nashville, they’re called Detached Accessory Dwelling Units or “DADUs.” While rental income is a major draw, Holland notes, “In Nashville, a lot of people use them as music studios.”
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Wellness Takes Precedent Over Sustainability
Buyers are increasingly focused on wellness features. While sustainability remains on the radar, wellness is taking precedence. Ricky Cantore of REMAX Advantage Realty in Ellicott City, Maryland, explains, “Sustainability features are at an all-time low in the market. While important, clients care more about amenities that look good and are well-built. Wellness on the other hand is huge.” According to the poll:
- 76% cite spa-like bathrooms as a wish-list feature
- 59% say home gyms are a top priority
- 47% report demand for sports courts like pickleball, basketball and tennis
- 41% note interest in saunas and steam rooms
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Little echoes Cantore’s sentiment, pointing to his $2.6M listing with a leased solar panel system that was actually a deterrent for some luxury buyers. “It’s kind of a hindrance – buyers don’t care unless it’s paid off. They’re not focused on sustainability; they want luxury touches, like a spa-style primary bathroom.”
Cash Dominates in Luxury Real Estate
Luxury buyers remain largely unaffected by high mortgage interest rates. In fact, 52% of agents polled say their clients are purchasing homes primarily with cash. These buyers are financially savvy, often with careers in investing or finance, and choose to avoid borrowing due to the high opportunity cost.
Cantore explains, “High-net-worth buyers don’t often need a mortgage, so they’re not affected as much by high rates.” He suggests luxury buyers are most likely to finance when rates are low and when the potential returns for investing the money elsewhere – such as the stock market – are higher.
Cathie Richard of REMAX Fine Properties in Austin, Texas, sees many luxury buyers choosing to pay in cash because they view real estate as a safe investment. “If they need that money later on, they can borrow against their house through their bank. So, they feel like real estate is a very safe investment at this time, compared to some of their other investments.”
While higher mortgage interest rates don’t impact them as significantly, stock market volatility is a concern. Nearly 40% of agents polled say their clients are watching how market fluctuations affect their liquidity. Still, 21% report that their buyers don’t have significant economic concerns impacting their home purchase plans.
Luxury Market Mirrors Broader Housing Trends
The national housing market is showing signs of shifting toward a buyer’s market, and luxury real estate is following suit. Holland observes, “Although the luxury market has been steady this year, it’s slowed lately as the lower and middle markets start to stall.” Sellers are making more concessions, and agents are seeing increased buyer hesitancy – even in high-end transactions.
- 40% of agents polled report cancellations and buyer anxiety similar to the broader market
- Generationally, Gen X (59%) and Baby Boomers (24%) are leading luxury purchases, echoing national homebuying trends
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Richard shares that she’s “switching her marketing strategy to focus on Baby Boomers’ needs. I’m scaling down on the size of properties for this generation but retaining the high-quality of luxury real estate.”
Luxury homebuyers today are focused on convenience, wellness and financial control. As the market continues to shift, agents and sellers alike must adapt to these evolving expectations – where turnkey living and cash deals are no longer the exception, but the expectation.
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