Do you want content like this delivered to your inbox?
Share
Share

Characteristics of the Luxury Montecito Real Estate Market

Maureen McDermut

Having sold residential real estate in Santa Barbara for over 20 years, initiating her career in Los Angeles selling commercial real estate, and daugh...

Having sold residential real estate in Santa Barbara for over 20 years, initiating her career in Los Angeles selling commercial real estate, and daugh...

Jan 24 2 minutes read

Purchase luxury Montecito real estate.

The luxury Montecito real estate market has its own rules, and those searching for luxury Montecito homes have a set of expectations distinct from home buyers in less upscale markets. According to a survey of the wealthiest 1.5% of Americans, 54% of them plan to purchase real estate in the next 12 months. This is a significant increase from 2014, when 48% of those surveyed planned a real estate purchase. Rising prices are not discouraging this group from a real estate investment.

People with high net worths cite several reasons to purchase real estate: 40% say the investment is attractive; 39% want to live in a particular place; 38% are seeking a more secure investment than the stock market. It's easy to see that luxury Montecito real estate fits these priorities.

In addition to a house being ready to move into, high net individuals cite several other criteria that make a house more desirable. An automated and wireless home environment matters to 41% of those surveyed, while 36% would like a LEED-certified green home. An open floor plan is a selling point to 36%, followed closely by home gyms (34%), home theaters (32%), and safe rooms (30%).

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info