Connecting our Clients to the Lifestyle of their dreams – New Year, New Decade…Let's add some GREEN!

Rather than being instantly propagated by viral memes, most trends gain momentum slowly, sometimes taking years to gain widespread adoption. For kitchens and residences, the first signs of change often surface in concept homes which are often indicators of what’s ahead in the home, design and shelter space.

This year is all about green, and how individuals are incorporating green design and features in to their homes. One of the concept homes built and designed for Design and Construction Week 2019, a ranch in downtown Las Vegas, featured a butler’s pantry/back kitchen that included an appliance designed to grow herbs and microgreens inside the home. Another concept house was developed to promote wellness and included a green wall adjacent to the kitchen to enhance air quality and provided a space to grow fresh food. With grow walls becoming more prominent in the shelter space, we may see this trend make its way from concept homes to high-end kitchens across the globe.

The New Farm to Table

In kitchens today, there is an emphasis on wellness and healthy living that extends beyond simply buying items that are unprocessed, extending to preparation, storage and even in-home food production. All of which gives new meaning to the term “farm to table.”

The tipping point may be well in the future, but a growing interest in organic, fresh and responsibly produced food is expected to create more change in kitchens over the next few years.  It’s easy to see indications in the marketplace already, from concepts at design shows to new appliances. Along with the Urban Cultivator, an undercounter appliance introduced for residences in 2015 that can grow herbs, microgreens, vegetables, and flowers for residences and commercial kitchens, the New American Remodeled Home, showcased at the National Association of Home Builders’ 2019 trade show, featured other opportunities for gardens and growing including fruit trees surrounding the perimeter of a rear yard, turning it into an orchard and an artfully designed chicken coop.

“Wellness is the new luxury,” says Mary Jo Peterson, an award-winning author, educator, designer and president of Mary Jo Peterson, Inc. Wellness might be on the verge of being another overused catchphrase, but Peterson says, “There is genuine concern about the health of food in the kitchen.” 

From Concept to Kitchen

Greenery was very much in evidence at the last EuroCucina, a biannual kitchen trade show in Milan. In part, this is a nod to biophilia, the integration of nature into interiors and designs, but several exhibitors also edged into the food production arena. In a forward-looking exhibit focused on the kitchen of the future, Electrolux featured Air Garden, a ventilation fan that incorporated space to grow herbs. Other exhibits showcased options for open shelving or floating shelves configured for plants. “We all know that plants contribute highly to our wellbeing,” says Stephanie Pierce, director of design and trends at MasterBrand Cabinets, who sees the desire to include kitchen gardens and growing food at home as an important microtrend, but one not driving the mass market.

Consumers are still reticent about the practicality of growing food at home, according to kitchen designers, even though green walls and biophilic design garner quite a bit of interest. “I think it’s a big micro trend, meaning it’s well-known and it’s not something that you have to look very hard to find or to see. But I don’t think it’s widely utilized, because I think there is some reservation from a lot of people about whether they have the capability to grow things,” explains Pierce. 

The Urban Cultivator, which was piloted as a commercial appliance and is used by the Four Seasons and Fairmont hotels as well as Microsoft, Google and Martha Stewart, attempts to bypass these reservations with automatic cycles for watering and grow lights — both integrated into the appliance.

Also emerging is the notion of the Wellness Kitchen, and a green kitchen is only part of the broader vision. “If you want to talk about total design in the kitchen, you have to pay attention to a lot of things including social aspects as well as acoustics, light, water, air quality and other factors”, says Peterson.

In the most forward-looking vision, the Wellness Kitchen completely revises any current notions of cooking and storage, according to Veronica Schreibeis, chair of the Global Wellness Institute’s Wellness Architecture Initiative and a leading proponent of the Wellness Kitchen. Ultimately food storage would incorporate attention to climate and temperature as more space is devoted to dormant and fresh living foods.

Appliance manufacturers are also focusing on better food preservation, according to Peterson, and the desire to keep food at its peak, is fueling innovation. This year, Perlick, a leader in bar and beverage systems, introduced a column refrigerator with an innovative preservation system in four separate, temperature zones that includes humidity monitoring. Unlike traditional models, Perlick electronically monitors the humidity in the produce bin, since produce loses water as it ages. The unit is equipped with the intelligence to push moisture back into the compartment to maintain the freshness of leafy greens and other produce prone to wilting. Additionally, the unit has a filtration system that removes odors and scrubs the air of ethylene gas, which accelerates the ripening of some delicate vegetables.

In some areas of the world, a composting appliance is becoming a must-have for high-end consumers and mainstream manufacturers are beginning to take notice. Two years ago, Whirlpool introduced an appliance that turns a week’s worth of food waste from an average family, including meat and dairy, into fertilizer that can be spread on plants in as little as 24 hours. The countertop-height unit is self-contained and includes an app for remote operations.

Trends for homes often start in the high-end and trickle down, but Peterson sees strong proponents for organic and fresh among Millennials. “It’s a trend that is being absorbed up,” she says.  In itself this might indicate a new path in the world.

Add small at the end:

  • Article contributed by Camilla McLaughlin

Connecting our Clients to the Lifestyle of their Dreams – ALLURE OF THE SECOND HOME: WHY AFFLUENT BUYERS ARE DISPLAYING CONFIDENCE IN RESORT MARKETS

The potential market for luxury property has never been bigger.

In our most recent research report, The Allure of the Second Home: Why Affluent Buyers are Displaying Confidence in Resort Markets, we explore the current state of the second home market, as it relates to the affluent consumer, focusing on the top 10% and above income earners in 26 countries, who are in the market to buy or sell a second or vacation home in the next three years.

Who is Considering Buying and Selling?

Buyers, age 40 and younger, are taking over the luxury second home market, but lack the experience of Gen X and Boomers

Luxury second home buyers and sellers have similar demographic profiles in terms of age, geography, education and professional status. As a result, their financial profiles are similar, with the only noticeable difference being that sellers have slightly higher asset levels.

Interestingly, this group has notably high assets for their age. About half of the qualified consumer market is under the age of 40, yet their aspirations for purchase are in the millions of dollars.

For most, this is not their first time purchasing a second home—the average number of residences is over three and 14% own at least five residences currently. Driven not by the Millennial group, but rather by Gen X and Boomers. Of Gen X luxury second home buyers, 17% have more than five homes, along with 19% of Boomers in this buyer group.

Current State of the Resort and Second Home Market

Affluent consumers are in acquisition mode

Those who are in the market to purchase a luxury second home are adding to their portfolio and unlikely to sell their existing second home at the moment—thus there are more buyers than sellers. Interestingly too, this means that sellers are also buyers, but buyers are not necessarily sellers.

LPI_AllureOfTheSecondHome_TotalGlobalAffluent

Buyers show more confidence in the market than sellers. More than half of buyers believe that now is a good time to purchase a second home, while relatively few think it is a good time to sell. As noted previously, these consumers are quite savvy when it comes to homeownership; 76% own two or more properties currently.

LPI_AllureOfTheSecondHome_GlobalWealthTrend

What are Second-Home Buyers Looking for?

Wellness is the New Luxury

Affluent consumers have begun living with wellness in mind and this also influences the second home market. In fact, 96% take at least one aspect of wellness seriously as part of their daily routine. Beyond physical and emotional wellness, which most affluent consumers focus on, luxury buyers are keen to improve their intellectual, social and even spiritual wellness.

Amenities that address these needs are sought by buyers and especially resort and second home buyers because of a growing demand for communities that take a holistic approach to overall wellness.

The Bottom Line

With more buyers than sellers, the demand for second homes is keeping home values high for luxury properties. Younger buyers are becoming more prominent, currently making up nearly half of the market, however, older generations have more experience buying second homes. Multiple residences, as well as customized experiences, including wellness amenities becoming a priority.

Would you like more information – just reach out and let’s chat:  214.769.2142

Connecting our Clients to the Lifestyle of their Dreams…5 REASONS YOU SHOULD PURCHASE A LUXURY VACATION HOME IN 2019

If you could live anywhere in the world, where would it be? If you’re thinking about buying a luxury vacation home, now is the right time. According to real estate experts, 2019 is a great year to make the move, especially if you’re looking to purchase in a popular location like the Hampton’s or Hawaii. This year’s sales are already up in these luxury markets, which means if you’ve been on the fence, it may be time to start looking before prices go up. Despite an uncertain housing market, second home purchases remain strong. Here are the top 5 reasons to purchase a vacation home in 2019.

POTENTIAL FOR RENTAL INCOME

Vacation rental revenue for 2019 is already up to over 14 million dollars in the US, and it’s expected to show an annual growth rate of 6.4 percent, resulting in a market volume of more than 18.5 million by 2023. Although your primary reason for purchasing a vacation home is to enjoy your time off work in a relaxing location far from home, you’ll likely only be there during specific times of the year. So, why not turn your vacation home into a temporary rental property for periods when you are away?  In addition to gaining a second income from the rental property, you may even be able to deduct expenses for the property at tax time. Be sure to contact your tax professional for detailed information regarding your specific property and financial situation.

3005-w-euclid-avenue-tampa-fl-usa-1-EXT

ADDITIONAL TAX BREAKS

Speaking of potential tax benefits, any home you own provides a significant tax break. Especially if you use the property solely as a second home, your mortgage interest and property taxes may be tax-deductible. Again, be sure to seek advice from a tax professional before making any assumptions about your tax situation.

PROFIT OVER THE LONG TERM

Although all property fluctuates in value, vacation properties are more likely to appreciate due to their location in popular areas. Especially if your vacation home sits on land where it’s difficult to build, like on the side of a mountain or near a small piece of shoreline, it can increase in value as more people visit the area and want to move in.

IT’S CONVENIENT AND FAMILIAR

If you’ve ever planned a vacation to a place you’ve never been, you already know the challenges that come with the experience. Not only are you in the dark as far as how enjoyable the trip will be, but you have to trust online reviews and photos of hotels. Once you book your reservation, you can only hope that your vacation spot turns out to be the wonderful place you imagine. Alternatively, if you already have a vacation home, you never have to worry about the unknowns. You can have peace of mind in knowing exactly what to expect in advance. You hand-selected and purchased the property yourself, so you know you’ll love the area. Plus, after a few weekend getaways in your new place, you’ll grow to love the familiarity of coming home to your second home.

THE PERFECT PLACE FOR A CELEBRATION

Another fantastic benefit of purchasing a luxury vacation home is that you never have to search for the perfect venue for your cousin’s wedding reception or your grandmother’s birthday party. In your gorgeous vacation home, hosting memorable celebrations is easy and stress-free. Instead of wasting time searching for a venue and then worrying about whether it will work out to your specifications, you can spend your time focusing on celebrating the momentous occasion ahead.

Whether you’re looking to purchase your luxury vacation home in the US or abroad, the time to invest is now. Make your dream a reality in 2019 by beginning your search for the perfect luxury vacation home today.

20fd9cb8-2-1-EXT

Looking for your next vacation home? Contact us directly at 214.769.2142