The vast majority of luxury homebuyers used an agent, are willing to give up square footage for an amenity they want and wouldn’t live in a home that isn’t tech-friendly, according to a survey commissioned by Better Homes and Gardens Real Estate.
The online survey of 500 affluent homebuyers, conducted by Wakefield Research between May 20 and June 4, also showed that most luxury homebuyers believe homeownership is a more sound investment than the stock market, would rather live in a “smart” home than a “green” home, and would rather have an upgraded home than more square footage.
“The luxury consumer is considered a trendsetter in most industries, and to see the strong connection this consumer has with ‘home’ is very significant as we look at the real estate market as a whole,” said Sherry Chris, president and CEO of Better Homes and Gardens Real Estate, in a statement.
| Luxury homebuyer survey statement | Percentage of respondents agree |
| Used an agent for real estate services | 96% |
| Willing to give up 1,000 square feet of living space in their next home for a lifestyle amenity they want | 94% |
| Believe their house is the best on the block | 93% |
| Wouldn’t live in a home that isn’t tech-friendly | 87% |
| Homeownership is a more sound investment than the stock market | 75% |
| Consider a “smart” home more important than a “green” home | 66% |
| Rather have upgraded home than more square footage | 60% |
| Own multiple homes | 58% |
| Homeownership is a bigger indicator of success than their job or title* | 57% |
| Prefer owning multiple “lifestyle” homes to support recreational activities like skiing and theater-going | 53% |
Source: Online survey of 500 luxury homebuyers between May 20 and June 4, 2013, conducted by Wakefield Research *Of those luxury homeowner survey respondents who have jobs
A majority of the affluent homebuyers surveyed said they used an agent for neighborhood lifestyle insight (65 percent) as a source of advance info for new listings (64 percent), as a go-to source for housing trends (55 percent) and for support through the homebuying process (53 percent).
More survey results:
| Luxury homebuyer survey statement | Percentage of respondents agree |
| Used an agent for neighborhood lifestyle insight; advance info on new listings; advice on housing trends; personal support through the homebuying process | 65%; 64%; 55%; 53% |
| Willing to give up 1,000 square feet in next home for living in a better neighborhood; a house with “character”; more land; access to dining and entertainment; shorter commute | 54%; 51%; 44%; 39%; 38% |
| Consider luxury home “essentials”: garden oasis; outdoor fireplace or fire pit; separate guest house | 53%; 50%; 47% |
Source: Online survey of 500 luxury homebuyers between May 20 and June 4, 2013, conducted by Wakefield Research