4 things wealthy homebuyers want

Sotheby’s found that millennial luxury buyers prefer turnkey, move-in-ready homes over properties that require extensive updates or renovations.

“They don’t want to deal with improvements,” said Daniel Heider, a global real estate advisor at TTR Sotheby’s International Realty in Washington, DC. “They want it ready, down to the landscaping, and they’re willing to pay for it.”

From the start, younger wealthy buyers expect homes to include features like “wellness facilities, cold plunges, steam rooms, pickleball courts, and infrared saunas,” Heider added.

This emphasis on wellness design is part of a larger trend of American homeowners prioritizing mental health and physical well-being in their living spaces.

Wellness trends are also a driver in the Napa Valley real estate market, according to Hillary Ryan, a global real estate advisor with Sotheby’s in St. Helena, California.

“In the ultra-luxury category, buyers expect to have a gym, productive gardens for farm-to-table dining, spa-like bathrooms, tennis and pickleball courts, and even Zen gardens and infrared saunas,” Ryan said. “The influence of biohacking culture has made an impact on what buyers are seeking in their wine country residences.”

We have designer clothes, cars, appliances — and, yes, designer homes, too.

While traditionally linked to luxury hotel brands, branded residences are becoming more popular, especially in Miami.

Luxury automakers like Mercedes-Benz, Porsche, Aston Martin, Bentley, and Pagani have all ventured into Miami real estate, developing their own condos with names to match.

In 2024, Pagani announced plans for a 70-unit luxury condo in Miami’s North Bay Village. The Pagani Residences will offer two- to four-bedroom units, ranging from 2,000 to over 3,000 square feet, with prices starting around $3 million — about the same cost as one of their cars. Each condo will come fully furnished, featuring Italian-designed Schiffini kitchens, 11-foot-wide terraces, and walk-in closets.

“I sold a unit to a guy who loves Pagani cars, and it didn’t matter to him where the location was,” Carlo Dipasquale, a luxury real-estate agent in South Florida, told Business Insider’s James Rodriguez. “They could’ve built the building inland, anywhere in Miami, for all he cared.”

It’s not just carmakers leveraging their iconic brands to sell homes.

The owner of the popular Italian restaurant Carbone is partnering with developers on a high-rise project in Miami, set to be completed by 2027, with units starting at $5 million each. Meanwhile, Dolce & Gabbana is behind the upcoming 888 Brickell Miami development.

According to Sotheby’s, hybrid homes are gaining popularity among luxury buyers as Americans look to balance sustainability and convenience.

Hybrid homes blend traditional and modern building techniques and styles. They often use classic materials, like stone or wood, alongside sustainable technologies such as rainwater harvesting systems and green roofs, also known as living roofs.

Ryan MacLaughlin, a Maui-based principal broker with Sotheby’s, said that “100%” of the high-end homes his brokerage sells in Hawaii have at least one sustainable feature.

“The high-end homeowner is still the most price-conscious on the market,” he said. “They don’t want to waste money, and sustainable features help them feel confident they can run their homes as efficiently as possible at a lower cost.”

Sotheby’s 2025 survey of its agents found that solar panels are buyers’ most sought-after green features, primarily because they can reduce utility bills and increase homes’ value.

Luxury buyers expect eco-friendly features like solar panels to be included from the start, not added later, said Darlene Streit, a global real estate advisor at Sotheby’s in Santa Fe, New Mexico.

“There was a craze with people renovating their homes to be more sustainable during the pandemic, and now I find that more people want that done for them,” Streit added. “They will pay more to have it done rather than have to worry about doing it themselves.”

The Midwest’s affordable homes and strong job market have made it a prime homebuying destination for Americans of all income levels.

Paul Handle, managing director of Mahler Sotheby’s International Realty in Milwaukee, said that the surge in demand has sparked a “renaissance” in the region’s luxury real estate market.

“Luxury buyers are increasingly looking at the Midwest because of the incredible value they receive compared with coastal cities,” he said. “They can purchase expansive properties, often with unique architectural details or waterfront access, for a fraction of the cost they would pay in New York, Los Angeles, or Miami.”

Data from Redfin shows that in December, the median sale price in Milwaukee was $216,000, far less than New York City’s median sale price of $825,000.

Beyond cost savings, Handle said that the Midwest’s slower pace of life and more predictable climate are also drawing buyers.

Sotheby’s also found that cost of living and quality of life concerns motivate young wealthy Americans to look beyond US borders to European countries like Italy.

The brokerage calls it the “White Lotus” effect, inspired by the popular HBO series. Young investors —  including digital nomads and tech and finance workers — are moving to places like Lake Como, where their money fetches a better life, the vibes are relaxed, and golden visas offer a path to residency.