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The WOW FACTOR: What Luxury Buyers are Looking For

by Marquette Turner

in Real Estate Radar

The news is full of negative stories relating to the increasing cost of borrowing and fears about real estate values, as well as fears of their money being placed in anything other than a “mattress” account!

Therefore, now more than ever it is a home’s “WOW FACTOR” than can lead to a sale, and indeed a great one. Being sought after gives a massive increase to the amount someone will pay.

For instance, a recent London survey estimated that a “WOW” property in London can sell for as much as 10 percent more than a neighboring property in need of renovation.

Given the consumer’s ever increasing interest in Lifestyle magazines, and indeed Hotel designs with their relatively neutral palettes and sensual lights are increasingly being emulated in residential houses.  Two particular features that are often mentioned by potential buyers are:

  • strategically placed lighting, and
  • an abundance of natural light.

London agents report that the larger the price tag, the more immune a property appears to be to the economic downturn, a sentiment that appears to be echoes throughout the globe.

Simon Turner

FYI: Read more articles on Luxury Homes, The World’s Most Expensive Homes, and Interior Design

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