Coldwell Banker Previews survey

"Must Have" Luxury Amenities
Whether inside or outside, "must have" luxury amenities such as designer kitchens, formal landscaping, water views, customized home entertainment centers and swimming pools are the top amenities of choice for luxury homeowners.
"Must have" luxury amenities in the home that respondents either currently have or are considering getting, include:

Must Have Luxury Amenities
% Respondents Who Currently Have
% of Respondents Who Are Considering

Designer kitchens
60%
26%
Customized home entertainment centers
47%
27%
Indoor gym / fitness room
33%
24%
Wine cellar
31%
24%

"High-end kitchens, a well-kept appearance outside of the home, and swimming pools have become the standard for luxury homeowners," said Gillespie. "These areas of the home attract attention and have long been critical factors when considering the value of a property."

Formal landscaping was, by far, the amenity mentioned most often by respondents as something they currently have surrounding their primary residence (77 percent). The following are additional luxury amenities that are found surrounding affluent homes:

Luxury Amenities Surrounding Primary Residence
Percentage of Respondents

Formal Landscaping
77%
Water view
43%
Swimming pool
38%
Hot tub
35%
Boat Dock
17%
Golf course / putting green
16%
Tennis court
14%
Basketball court
9%

Relative to maintaining luxury homes, those surveyed indicated that landscapers (95 percent) and housekeepers (62 percent) were a must. Of note, housekeepers were significantly more common among those ages 54 and younger (72 percent versus 55 percent of those ages 55-plus).

Approximately three in 10 respondents have specific rooms in their homes that are used to impress houseguests (29 percent). Among these respondents, the living room (72 percent) is the primary room that is used to impress houseguests. Only one in 10 or fewer respondents said any other rooms in their homes are used to impress.

The survey was conducted online by independent market research firm, ICR, in April 2008 and commissioned by Coldwell Banker Previews International®, the exclusive Coldwell Banker® service dedicated to luxury real estate. In 2007, the Coldwell Banker system participated in more than 25,000 transaction sides of homes priced at $1 million or more in 2007 with a total sales volume of $46.6 billion.

* The survey questioned 305 owners of homes with a primary residence valued at greater than $1,000,000 and investable assets greater than $1,000,000. The survey questioned owners of homes valued at $2 million and up in the state of California. This was done because, according to the California Association of Realtors, the existing-home median price in the state is $403,870, compared with the national existing-home median price of $202,300 (as of April 2008, according to the National Association of Realtors).

About ICRICR is a full-service market research firm specializing in designing customized methodologies across 12 industry sectors and a leading provider of omnibus research services. Our Advanced Research Methods group designs and executes custom research and solutions to complex business challenges on a wide range of issues, including global research in over 90 countries.



About Coldwell Banker Previews International®
The Coldwell Banker Previews International® program has been marketing luxury homes since 1933. This luxury home marketing program has been exclusive to Coldwell Banker® affiliates since 1980. The exclusive group of certified Previews® Sales Associates make up only 10 percent of the more than 111,000 Coldwell Banker sales associates worldwide. Coldwell Banker became one of the first national residential real estate brands to launch a second Web site totally dedicated to the luxury real estate market.