What defines a luxury home?When you think of a luxury home, you automatically think of the price first, but that’s not the only thing that determines whether or not a home is a luxury property. Location and features are two other huge factors to weigh in on. Whether it’s a condo near high-end shopping and dining or a spacious home on the water, luxury homes have seen an increase in the number of buyers in the last two years.
But, why?>According to a report by The Institute for Luxury Home Marketing, more people have reached a certain net worth. In 2021, there was a 19.8% growth in the number of individuals with a net worth of over $5 million. That is exponentially greater than the 2.2% growth we saw in 2020. This means over 660,000 new individuals have been introduced into the high net worth bracket. These same people are looking to add new properties and investments to their portfolio making it no surprise that the demand for luxury homes is skyrocketing.
Diane Castro-Perez is a trained luxury market professional with The Institute for Luxury Home Marketing. This extra education layered with her (15) years of experience along the coast of North Carolina as a real estate expert is one of the many reasons she is one of the top picks for luxury property investing in our area. Diane is careful to ensure that your unique needs as a luxury home owner are met with exceeding expectations.
If you are in the market to buy or sell a luxury home in Jacksonville, Topsail Beach, Wilmington or any of the surrounding areas, Castro Real Estate Team is your first call!