Psychological Factors affecting purchase of Luxury Real Estate

Purchasing Luxury Real Estate is not a cup of tea for everyone. There are a lot of factors that play a role while a person decide to purchase a Luxury home. The appeal of Luxurious homes is undeniable. There is a great percentage of people who always want to live in a home which is located on a prime location, which has all the facilities and luxuries, and off course, it has to look pleasing to the eye. There is a portion of the population who never go for Luxury homes based on number of reasons. Majority of that portion is not financially strong to afford luxury living and the rest of the people opt to spend their money somewhere else. They are comfortable living in a cheaper and not so luxurious home.

Let’s talk about the people who decide to buy Luxury Real Estate. There are several Psychological factors that play an important part in that decision. Those are discussed below:
Self-Esteem
A recent study which was published by Journal of Experimental Social Psychology showed that low self-esteem plays a big role in whether a person decide to buy luxurious goods. They are of the opinion that if they buy something that is expensive and luxurious, it will increase their self-esteem.
Social Status
People who want to maintain a high class social status always want to spend their money for luxury homes because it’s their belief that luxurious home will always define their high class social status. People think that their peers will respect them more if they are living in a luxurious house. It’s one of the factors which comes in their mind when they are making a decision about buying a luxury home or not.
Also people are used to rate a product high if they are told that this product is expensive. So it’s always in the mind of people that if a particular thing is expensive, it must be high quality and highly rated. Same is the case with Luxurious homes because people will know that they must be great because they are expensive and tagged as “Luxurious”.

Another scenario is when people who are not that financially strong to afford a luxury home, still decide to go for one because they want to show off to others, try to get acceptance from others or to reward themselves for an accomplishment.

4 distinctive features of luxury homes

There is a huge difference between an ordinary home and a luxury home. The price of a luxury home is high for a reason. You won’t get certain features in the ordinary home. Here are the most distinctive features of a luxury home.

Large windows

This is one of the distinctive features of a luxury home. These houses have floor to ceiling windows so that more light can get in. it also allows an outstanding view of the outside world. The windows are of glass and some windows have advanced technology installed in them as well.

Elements of wellness

A luxury home will have everything to give you a healthy environment to live in. You will have fresh air and water supply. The lighting will be sufficient. There will be gym facilities, recreational options, Jacuzzi, and spa. There will be swimming pool and place for indoor games. You won’t need to go elsewhere to avail these facilities. You will get everything in your home.

 

Ultra modern kitchen

Your kitchen will be stocked with all the modern smart appliances. It will make cooking a very easy task for you. Anybody will be able to become a professional cook if you have this type of kitchen.

Location

Luxury homes are located in the best neighborhoods. They are often located in a quiet place with lots of greeneries or near the sea. Location is one of the major factors for the high price of luxury homes.

These features make luxury homes quite different than the conventional homes. These homes will give you such comfort that you won’t feel like leaving your house at all.

3 marketing tools real estate agents use to sell properties

Even if you have a great property, it doesn’t mean that you will be able to sell it fast. You need to market your property well. Here are some top marketing tools that the real estate agents use to sell the properties.

 Professional photography

You must hire a professional photographer to take pictures of your home. A professional photographer knows which part of the property to highlight and which parts to hide. The photographer can adjust light and other details to make sure that the photos just come out perfect.

Professional videography

It is an essential tool to sell your home. A professional videographer will record a 3600 tour of your home. This way the clients will get a virtual experience of your property and it will be sold quickly.

Home staging

Doing renovation and repairing works are not enough. It is important to stage your home in front of the prospective buyers so that they love your home instantly. Home staging is not the same thing as home repairing. After you do the necessary repair works, a professional home stager will decorate your home in the most elegant and sophisticated way so that it is liked by most of the buyers.

Without these three marketing tools you won’t be able to sell your home within a short time. The other property owners are using it, so you will also need to use these tools to compete in this fiercely competitive market.

5 reasons you should invest in luxury properties

The luxury property market is growing and there are lots of opportunities out there. Many people are looking for ways to invest in this sector. Here are the reasons why you should invest in luxury properties.

Great returns

The demand for luxury properties is increasing. You can get a good return by investing in luxury properties. By taking the right steps and getting advice from someone expert, you will be able to make a huge profit in this sector.

Comfort

People buy luxury homes for the ultimate comfort. You will get all the facilities in luxury properties that will give you convenience and a comfortable experience.

Technology

The advanced technology present in luxury homes is something you won’t get elsewhere. You will get remote control switchboards, solar generator, and other hi-tech facilities. These homes make your life much easy.

Distinct features

The luxury homes are designed by keeping in mind the high-class people in our society. It has a unique architecture that is both appealing and functional. You will find many unique features in these properties that you won’t find anywhere else.

Super security

People live in luxury properties for the security reasons. You will get high-grade security using smart home technology. CCTV, automatic high-security installations, etc. makes the home very secured.

Luxury home is a symbol of status. Someone who owns a luxury home is regarded as very special in the society. Investing in luxury property market also opens up international investment opportunities for you. So, you should think of investing in this market.