Meet the new New York City luxury buyer. Young, tech savvy, work-driven, and focused on lifestyle, this buyer is a far cry from the luxury buyer of 10 or 20 years ago. The new millennial luxury buyer is a well-informed professional who is buying their home for the first time. It just so happens that this buyer is purchasing a home with a multi-million dollar price tag. Additionally, this new buyer values lifestyle above all else.
The new millennial buyer is most likely also a tech entrepreneur. However, they may also be in music, sports, or entertainment industry. Perhaps, they run an already well-established family business. Either way, they will have different expectations and goals than the successful luxury real estate buyer of the past. These buyers know what they want in NYC properties and they know how to get it. Agents working with this buyer must adjust their business model to keep up with the tech savvy buyer and uses social media such as Instagram or WhatsApp.
Real estate professionals are taking note of the changing needs of those who are purchasing NYC properties. Young buyers are looking for a contemporary, connected home with a spacious interior and a great location. Some real estate professionals have noted a new trend on the rise with millennial buyers. The morning kitchen is quickly becoming a sought after feature for the first time in decades. The small kitchen located just off the master bedroom is a place where young home buyers can make coffee in the morning or pour a drink after work.
Many young buyers are looking for that perfect blend of luxury and convenience in the NYC properties they survey. These buyers are attracted to high-end condominiums and are not afraid of a challenge. No longer are young buyers only interested in turn-key properties. Today’s luxury buyer is not afraid of a renovation. In fact, they often are exhilarated at the chance to make a property their own.
Looking for a property with that perfect mix if location and luxury? Trust the professionals. With an extensive network of industry specialists, TOWN Residential has direct access to some of NYC’s best properties, architects and interior designers professionals.
TOWN Residential has quickly become an integral part of the New York real estate landscape by specializing in luxury residential sales and leasing. Additionally, TOWN’s ability to deliver luxury NYC properties with the right mix of location and lifestyle is unrivaled.