{"id":8167,"date":"2018-02-10T15:15:41","date_gmt":"2018-02-10T23:15:41","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=8167"},"modified":"2018-02-10T08:17:38","modified_gmt":"2018-02-10T16:17:38","slug":"millennials-most-desired-aspects-of-a-luxury-home","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/02\/millennials-most-desired-aspects-of-a-luxury-home\/","title":{"rendered":"Millennials\u2019 Most Desired Aspects of A Luxury Home"},"content":{"rendered":"<p style=\"text-align: justify;\">A new generation of affluent homebuyers powered by a surge in inherited wealth is driving the luxury home market in North America, demanding larger spaces and fancier finishes, according to a recent study that heralded \u201cthe rise of the new aristocracy.\u201d<\/p>\n<p style=\"text-align: justify;\">As reported by Bloomberg, the study was based on a survey of more than 500 consumers with at least US$1 million in investable assets. It was conducted last month on behalf of Luxury Portfolio International, a network of real estate brokerages.<\/p>\n<p style=\"text-align: justify;\">Prospective homebuyers under 50 accounted for most of those shopping for homes priced at US$1 million or more, according to the report. Nearly a quarter of high-net-worth consumers between 25 and 49 said they would look for at least 20,000 square feet when they made their next home purchase; it was just 6% for respondents 50 or older.<\/p>\n<p style=\"text-align: justify;\">Other home features deemed \u201cessential\u201d by a large share of this segment included hot tubs (45%), commercial-grade kitchen appliances (52%), and multiple-view security cameras (54%). Proximity to good restaurants was the most important community amenity in the survey results, followed by proximity to family.<\/p>\n<p style=\"text-align: justify;\">Three of five respondents under 50 said they are expecting to inherit at least US$1 million, with an average inheritance of US$3.8 million. Meanwhile, more than 171,000 families gave gifts of at least US$1 million between 2011 and 2014, according to the report, a giant leap from about 7,600 families who made US$1 million gifts between 2007 and 2010.<\/p>\n<p><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/millennials-most-desired-aspects-of-a-luxury-home-237187.aspx\" target=\"_blank\" rel=\"noopener\">Millennials\u2019 Most Desired Aspects of A Luxury Home<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new generation of affluent homebuyers powered by a surge in inherited wealth is driving the luxury home market in North America, demanding larger spaces and fancier finishes, according to &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/02\/millennials-most-desired-aspects-of-a-luxury-home\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-8167","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Millennials\u2019 Most Desired Aspects of A Luxury Home &#8226; 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