You are finally ready to downsize, but that does not mean that you are ready to give up the luxury designs that you have become accustomed to. After living in your current home for more than 20 years, your two daughters are now graduated from college, fully employed, and home owner’s of their own. As a result, you have finally agreed to down size into a smaller space. Your husband has been wanting to get out of your current house for years, and you are now willing to give up the home where you raised a family.
The stairs in the two story home are exhausting and the upkeep of the yard in the summer and shoveling the snow in the winter are exhausting. And while you are willing to move into a smaller space, you are not willing to give up any of the luxury designer upgrades that you have in your current home. You love the walk in shower space in your master bedroom, you adore the fact that your kitchen is fully of gourmet appliances, and your husband is very fond of his temperature controlled garage space. Although you are willing to give up on the fourth bedroom in the house and some of the square footage in the overall plan, it is important to you that you still live in a custom home design that will allow you to enjoy the modern features that you have come so accustomed to.
Many of the new home designs that you have been looking at do not have all of the luxury modern elements that you want, so your husband has agreed to work with a custom builder that will help create a smaller space, but one that is well appointed with the modern design trends that you want.
Consider some of these statistics about the home buying trends that continue to drive the nation’s economy, as well as individual comfort:
- 34% of home buyers are first-time buyers, according to the National Association of Realtors.
- An estimated 1,319,000 new homes were completed as of February 2018, according to data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
- Most luxury homes are sold withing 220 days of being listed, according to Christie’s International Real Estate report.
- 8% of all home buyers have household incomes of $200,000 or more.
- Totaling an estimated 1,536 individual businesses, Florida currently has the highest number of interior design firms in the U.S.
- While the median luxury home selling price is $1,436,594, the average luxury threshold price is $975,000.
If you are finally ready to sell your big home and move into something smaller, it is important to remember that even though you are willing to give up square footage, you do not have to give up the luxury design trends that you love.