What home do you buy when money is well down your list of considerations? Do you buy the penthouse with its own private bowling alley? Maybe Robert De Niro’s or Nelson Rockefeller’s old digs? In this podcast Kirsten Jordan, the newest—and first female—cast member of Million Dollar Listing New York, gives us a glimpse into the luxury real estate market. Read on for some of her key takeaways.
Emotions and Home Buying
- Emotions play a huge role in the home-buying process, and home buying in the luxury sector is no different.
- Luxury home buyers are looking for a “sense of place” to feel like “I have arrived,” whether in the form of river views or tall ceilings or a doorman who greets you by name. Often, though, it’s more about making a statement to the world.
- But don’t forget the numbers. Deep dives into the latest data are indispensable to sell even the highest of the highest-end homes.
The Luxury Sector and Market Cycles
- The luxury sector is the first to get hit during market corrections.
- Homes that are boutique and unique fare the best during market downturns. The “private club” element of these homes helps keep values afloat, even when pricing of other luxury properties are falling.
Designing for Today and Tomorrow
- Design trends come and go quickly. Tapping into the insights of design experts is a must to keep up with fast-moving trends.
- Getting the design right plays a major role in making the sale. Designing a home to be sold years into the future can be tricky due to fickle fads, but the most exceptional designs are timeless.
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