Young Buyers Entering Luxury Home Market Like Never Before
You’ve likely heard the terms “old money” and “new money” – this is a tale of “new money” or the NEW Demographics Of Luxury Home Buyers. The trend is for the baby boomer generation to help their children own their own home and make a great investment while the market is down. This trend is becoming more common place for the wealthy and not just the ULTRA rich. Key demographics of luxury home buyers are starting to trend younger. Part of this is attributed to baby boomers beginning to retire into smaller estates or multiple estates that aren’t always associated with metro area sales.
Of course, as featured in this video the highlights of San Diego, Miami and New York, but there are other places that are experiencing this phenomenon. Let’s take a look at some of the area that this new demographic of luxury home buyers might buy in.
Atlanta is a destination for luxury home buyers for many reasons. It’s a travel hub, it’s caters to a variety of lifestyles and it’s got a little “swagger” to it for being the hollywood of the south as well as some accolades that comes to a town with multiple winning sports teams. A transplant city there’s certainly something for everyone. Lake Lanier offers the lake homes that are popular with some luxury buyers, while Atlanta’s gated communities are even featured on some famous TV Shows.
Scottdale is basically a city of Luxury. With average prices over the $500,000 mark, passing the bottom threshold for Luxury homes.
Asheville is home to luxury homes for those that love the mountains. It’s off the popular track enough to keep the prices in obtainable range but the homes here are amazing none the less.
Meanwhile, out in Madison you have all the appeal of the northern lifestyle without the inflated prices of the metro areas. Here’s what our friend Bill Baker say,
The past 12 months have been exceptional for our Luxury Market and we have experienced sales numbers that have not been seen in over 7 years. Two homes sold at $3 million, $2.6, $2.0, etc.
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