Luxury Wish List

Topping the Luxury Wish List: Heated Floors
What’s the next luxury “must have”? Heated floors top the list in a recent survey of affluent home owners conducted for Coldwell Banker Previews International, a luxury real estate brand.

The survey recorded the new desires of consumers who have a home valued more than $1 million and investable assets of at least that amount. The findings reveal that many home amenities that once were highly sought-after by luxury home owners — features such as designer kitchens, formal landscaping, and home entertainment centers — are now considered standard in high-end homes.

Approximately 72 percent of respondents say they already have a designer kitchen, 63 percent already have formal landscaping, and 34 percent also say they have a wine cellar. Additionally, 72 percent have a room in their home devoted almost exclusively to entertainment, and 30 percent have theater-style seating in those rooms.

“What constitutes a luxury amenities is evolving quite a bit, says Jim Gillespie, president and CEO of Coldwell Banker Real Estate. “High-end kitchens and entertainment rooms are now givens in luxury living.”

Owners who don’t already have these amenities plan to add them. Survey results show that 21.6 percent of respondents are either committed to or considering adding a designer kitchen and 27.9 percent have a home theater in mind.

So what amenities are likely to be on the wish lists of today's affluent homeowners? Heated floors were landed at the top of the list, with 21 percent of respondents planning to add such floors in the near future and 23 percent who already have them.

Other responses revolve around sports and maintaining a healthy lifestyle. “These add-ons don’t come cheaply,” he says. For example, the cost of a regulation-size tennis court, which 19 percent of respondents say they plan to add (10 percent already have one), can run as much as $60,000 or more.

Other high-end attractions: boat docks, bedroom kitchens, indoor pools, and putting greens.

“Outdoor fireplaces, high-end outdoor kitchens, upscale furnishings in outdoor rooms are also the rage in all markets,” adds Mark Nash, an associate with Coldwell Banker in Chicago, who conducts an annual survey of real estate practitioners to determine what’s in and what’s out with home buyers.

—By Camilla McLaughlin for REALTOR® Magazine Online