Are you a luxury property buyer in South Jersey? Luxury homes are a unique and challenging type of real estate to buy and sell because it is not just about the home or the land. It is about a specific lifestyle and state of mind.
At Your Home Sold Guaranteed Realty - Nancy Kowalik Group, our team of expert realtors has the experience and knowledge needed to market a luxury property to the right audience so that it sells quickly and for the highest price possible. Our realtors know what it takes to sell a luxury property and how to ensure that the right home buyers are able to see it.
If you are selling a luxury home, our team is here to ensure that your property sells to the right home buyer for a price that matches the lifestyle and allure made possible by this property. For those who are looking for the perfect luxury home, we are happy to offer you access to our FREE list of luxury homes for sale in South Jersey!
What Are Luxury Properties?
The first thing that is important to understand is what qualifies as a luxury property and what the characteristics are of such a place. A luxury property has a variety of great qualities that define it as luxurious and worth the higher price tag that accompanies it. Some of these characteristics include:
- High price
- Professional interior design
- Beautiful location
- Acreage
- Expensive building materials
- High-class amenities (large bathrooms, walk-in closets)
- Advanced security system
- Technological innovations
- Specialized rooms (game room, theater, spa, man cave)
- Private and exclusive location
- Rich history
- Outdoor amenities
When it comes to selling a luxury property to the right buyer, it is important to make sure that the realtor highlights the qualities of the property that a luxury buyer expects to see when viewing the property.
Who Purchases Luxury Properties in South Jersey?
The typical luxury property buyer is changing as the years go by, so it is essential that a realtor is able to attract this type of buyer. Because the age and demographics of luxury property buyers has shifted from the older generation (over the age of 75), this is changing the marketing strategies that can be used to advertise and attract new buyers.
At least two-thirds of luxury home buyers in the luxury property market are under the age of 56. This includes Gen X, Millennials, and Gen Z, and Gen X is the largest of these demographic groups. However, there is a significant growth in the age of the buyers, and the Millennial group (ages 25-40) are beginning to take control of the luxury property market.
Why Invest in a Luxury Property in South Jersey?
There are a few great reasons to become a luxury property buyer in South Jersey. First and foremost, it offers a certain type of lifestyle if the luxury home buyer chooses to use the property for their own personal use. Living in a privileged location provides an exclusive type of lifestyle that many will not be able to experience. The high quality materials used to build the home also meets the needs of luxury home buyers and their expectations for high-end living. This could include natural stones, noble woods, gold, silver, crystals, and other precious materials.
Depending on the location, size, and type of the property, the purchase could provide a sense of status for the buyer. It may also allow the buyer to feel more secure in their home because it is much more difficult to breach the security measures that most luxury property owners are sure to employ.
If the luxury property happens to be a second home, there are a couple of potential benefits. First, it offers the owners a place to escape to when the hustle and bustle of daily life becomes overwhelming. Second, the time a home is vacant is an opportunity for a secondary income by renting it out.
Luxury Property Buying Trends
As we have said, the luxury property buying trends have been skewing toward a younger generation. Most notably, Millennials between the ages of 25 and 40 have been rising in the ranks of home buyers for luxury properties, and it is likely that this growing proportion will continue to increase over time. While Gen X still accounts for the largest buying demographic, that will not be able to withstand the test of time, just as the older generation (those now over 75) have already lost their majority hold.
Another popular trend in the luxury property market is changing from a focus on solely location to a dual focus of location and lifestyle. While the older generation knew the value of location, more modern buyers want both location and usability. Forbes Global Properties demonstrated that 68% of buyers now want to have an increase in both indoor and outdoor space. More home buyers want the inclusion of an in-home office space, increased privacy, fewer projects to complete in the house, fitness facilities, and more green spaces.
How to Properly Market to Luxury Home Buyers in South Jersey
Since the average age of the luxury home buyer has changed, marketing should also change to match the new demographics. Because the younger generation has embraced technology and modern innovations with social media, it only makes sense that realtors should be using these tools to market luxury properties.
Ensuring that the right audience actually sees the advertising for luxury properties is a top priority, and that means realtors have to advertise in the places where the typical audience is actually looking. It is also vital that the most important aspects of the properties are highlighted to show that these luxury homes will meet the needs of the buyers. With a strong web and social media presence, it will be far more likely that the ideal home buyer sees the properties for sale because the process is made simpler for them.
Another great way to ensure that the homes are properly marketed is by teaming up with luxury brands who already have the niche market cornered. Since they have an audience who knows and recognizes their brands, it is clear that a partnership with these brands would be very beneficial to the realtor and home seller. This type of collaboration is quite typical and mutually beneficial.
Our Team Will Help You Find the Perfect Luxury Property in South Jersey
If you are a luxury property buyer in South Jersey, our team of expert realtors at Your Home Sold Guaranteed Realty - Nancy Kowalik Group is here to help. We have the experience, knowledge, and skills to assist you in achieving your real estate goals.
For home buyers, we are well-versed in all aspects of the luxury real estate market, and we can effectively find you a home that meets your needs and matches your criteria. We also have access to off-market properties that other home buyers will not even know are available, so you will have the first chance to view the property and potentially make an offer.
Those who want to sell their luxury properties in South Jersey can rely on our team to properly market the home to the right audience, to highlight the upscale and high-end aspects of the property that modern home buyers are expecting, and to get the house sold quickly and for top dollar.
For more information about luxury properties and who is most likely to make an investment in a luxury home in South Jersey, give us a call at Your Home Sold Guaranteed Realty - Nancy Kowalik Group or fill out the form below with the requested information. One of our experienced realtors will send you a detailed response as soon as possible.
We look forward to hearing from you and helping you begin your luxury real estate journey in South Jersey!