AriZona Real Estate insider!

“Open floor plans” is the newest buzz phrase for wealthy real estate buyers.

In response to a question about the most important residential amenities, 39% said a home with an open floor plan was more important to them than it was three years ago, and 32% said a fully automated home that they could control via remote or voice activation was more important.

Of less importance to today’s wealthy buyers were tennis courts, safe rooms , and multiple garages:

Here are a few other interesting points from the study:

• Thirty-eight percent of those surveyed own two or more homes. Only 6% own another home outside of the U.S.
• The average purchase price for wealthy consumers’ most recent residential property was $1.6 million.
• The most important factor when purchasing a home was by far its location, with 70% of respondents saying it was the most important factor in their last real estate purchase.
• Younger buyers are driving the luxury real estate market: Forty-three percent of Americans aged 21 to 55 with a household income of $250,000 are considering another residential property in the next year, and spent almost twice the amount on homes than those aged 55+ ($2.1 million compared to $1.1 million).

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