{"id":1153,"date":"2020-10-01T23:06:23","date_gmt":"2020-10-01T23:06:23","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=1153"},"modified":"2020-10-01T23:06:23","modified_gmt":"2020-10-01T23:06:23","slug":"buyers-finding-space-luxury-home-market","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/buyers-finding-space-luxury-home-market\/","title":{"rendered":"Buyers Are Finding More Space in the Luxury Home Market"},"content":{"rendered":"
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Buyers Are Finding More Space in the Luxury Home Market<\/p><\/div>\n

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A year ago, additional space and extra amenities had a very different feel for homebuyers. Today, the health crisis has brought to light how valuable more square footage and carefully designed floorplans can be. Home offices, multi-purpose rooms, gyms, and theaters are becoming more popular, and some families are finding the space they need for these upgrades in the luxury market.<\/p>\n

The\u00a0Institute for Luxury Home Marketing<\/em>\u00a0(ILHM)\u00a0explains<\/a>:<\/p>\n

\u201cWith quarantine concerns still top of mind for many luxury buyers, we see large, sprawling estates making their comeback.<\/em><\/p>\n

For instance, the last six months have seen a resurgence in the buying of mega mansions and estate-size homes \u2013 specifically properties that offer space (both inside and outside), separate home offices, gyms, and private amenities such as swimming pools, yoga studios, and recreation rooms.\u201d<\/em><\/p><\/blockquote>\n

This was not the case at this time last year, as the most recent\u00a0Luxury Market Report\u00a0<\/em>from ILHM\u00a0emphasizes<\/a>:<\/p>\n

\u201cExactly one year ago, we reported that demand for large properties, mega mansions, private estates, and luxury ranches had reduced significantly over the previous few years; especially from the younger generation of luxury property buyers.\u201d<\/em><\/p><\/blockquote>\n

For today\u2019s buyers looking for larger homes, steady increases in\u00a0equity<\/a>\u00a0might be what makes a move possible. Leveraging home equity makes it easier to afford the down payment on a luxury home, and current low interest rates are making mortgage payments more\u00a0affordable<\/a>\u00a0than they have been in years. The report from ILHM also notes:<\/p>\n

\u201cLuxury real estate prices may continue to strengthen further into the third quarter, as the affluent continue to see large investment returns from the currently strong stock market.<\/em><\/p>\n

Coupled with the low interest rates, the policies granting (and insisting) on working from home implemented by many employers, and the concerns of the pandemic, all translate to the affluent increasingly trading in their city lifestyle for a home that has it all.\u201d<\/em><\/p><\/blockquote>\n

Clearly, today\u2019s strong gains in home equity paired with record-low interest rates make fall a great time to move up into the luxury market to meet those changing needs.<\/p>\n

Bottom Line<\/strong><\/h3>\n

If you\u2019re ready to gain some breathing room in a larger home, let\u2019s connect so you have the guidance you need to find more space in the luxury home market.<\/p>\n<\/div>\n<\/div>\n<\/article>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
\nFacebook<\/a>
\nLinkedin<\/a>
\nTwitter<\/a>
\nInstagram<\/a><\/p>\n

THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE OF ADVICE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

Home offices, multi-purpose rooms, gyms, and theaters are becoming more popular, and some families are finding the space they need for these upgrades in the luxury market. Finish Reading Buyers Are Finding More Space in the Luxury Home Market<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[38,15,167,18,27,91,52,49,42,40,119,118,80,48,13,54,47,19,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1153"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=1153"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1153\/revisions"}],"predecessor-version":[{"id":1155,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1153\/revisions\/1155"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}