The emotional side of luxury real estate

An overwhelming majority of high-end home buyers, internationally, see their investment as more than a financial one, according to a study conducted by Luxury Portfolio International, a leading division in luxury real estate around the globe.

Luxury homes are established as a place to set down roots and create deep emotional ties. For that reason, the information about design trends from a recent report by Masonite, a Tampa-based residential door manufacturing company, is even more interesting.

What does your recent luxury home purchase say about you and how does it stack up with current design trends? Here’s a glimpse into what to expect.

Global market statistics indicate there are more buyers than sellers. In Florida, luxury real estate is a big part of the financial ecosystem with markets in coastal areas like Sarasota and Miami, as well as more typical suburban and urban areas.

Trends show that home buying in the United States is emotional and based on the attractiveness of the space. What matters in luxury home design trends can be summed up in six important aesthetic choices:

• First and foremost, homebuyers want a transitional space where they can both live and work. As work trends shift, and more Americans work from home, the design must also change to accommodate the many needs of working families. Characteristics of this trend are industrial extras and modernized design, but ultimately a tell-tale sign of a live/work space is flexibility in multi-use scenarios.

• The next trend can be summed up in one word — rustic. Interestingly, fewer Americans, compared to Europeans, are moving out of cities and suburbs to buy luxury homes in rural areas. Those seeking rustic luxury create quiet pockets of space where they can get away from the daily hustle inside their homes.

• If rustic luxury is about creating spaces within the modern home that have a natural and rural appeal, then an urban country space is akin to bringing all the classic essential rural design elements into the home design. It’s identifiable by unique handmade accent pieces and fine, sturdy craftsmanship, like barn-style doors.

Another design trend on the opposite end of the spectrum is based in minimalism. This idea calls back to a Nordic noir philosophy of “less is more.” A home with wide open spaces, pale muted colors contrasting steely accents and dark floors it’s likely a Nordic noir home. These homes can be both modern and soft, creating a unique juxtaposition for the discerning homebuyer.

Similarly, as more women have risen into a position of buying power, luxury home trends also reflect a feminine need for a peaceful, attractive place with warm colors and traditional design.

The final luxury home trend to make Masonite’s list is one that displays the desire of luxury travelers to bring a piece of global sophistication into the home. This is known as a Mediterranean escape and is identified by accents not often associated with American residential architecture. Wrought iron and exotic wood extras, lush green garden spaces and more can be found in these high-end homes that offer a cultured look, by design.

With more buyer demand than inventory available, according to Luxury Properties International, “the population of affluent consumers continues to grow, as does their interest in and emotional relationship with real estate.”

Real estate continues to be a good investment financially, as well as emotionally. 

You May Also Like
Wingspan Development Group and ABC Capital Corp. opens community in Hyde Park

Wingspan Development Group and ABC Capital Corp. held a grand opening for NICHE, a six-story, 251-unit apartment community, in Tampa’s North Hyde Park neighborhood. The community offers attainably priced, luxury

Read More
Compass Tampa teams up with the Brescia Group

Compass Tampa Bay has recently announced its partnership with Dominic Brescia and the Brescia Group. Dominic Brescia is the founder of The Brescia Group at Compass, a leading real estate

Read More
Habitat for Humanity to celebrate 900th home dedication

Habitat for Humanity of Pinellas and West Pasco Counties is reaching a significant milestone this month, with the 900th dedication of a home built in the Pinellas County and West

Read More
Habit for Humanity 900th home decision
Metropolitan Ministries launches crisis campaign to address surging needs amid skyrocketing housing costs

Metropolitan Ministries is seeking community support for families facing homelessness or other dire situations as housing and other costs continue to rise.  The organization, which serves those who are homeless

Read More
Other Posts
Mansions on the Market: Clearwater estate on Magnolia Drive (PHOTOS)

Address: 205 Magnolia Drive, Clearwater Specs: 5 bedrooms | 5 bathrooms | 6,087 square feet Listing price: $6,200,000 This historic home is located on the bluffs, overlooking Clearwater Harbor, in

Read More
USF and Florida Institute of Oceanography acquires a ‘Taurus’ for the sea

Researchers at University of South Florida and Florida Institute of Oceanography have acquired an operated vehicle, appropriately named Taurus, for deep sea exploration. Taurus can dive up to 2.5 miles

Read More
Real Estate Quarterly: An update on commercial real estate and office market

By Joanne LeBlanc, vice president at Colliers Office space is not dead. At least not in Tampa. In this market, companies continue to lease office spaces even if they are

Read More
Anthony Martino inducted as president of Hillsborough County Bar Association

Anthony Martino, at Older Lundy Koch & Martino, in Tampa, was sworn in as the new president of the Hillsborough County Bar Association. Martino is a civil litigator, with nearly

Read More