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Sue Hawkes, Principal of The Collaborative Companies (781.270.7575, email: suehawkes@ aol.com) covers Northern Rhode Island, Southern New Hampshire, and Eastern Massachusetts. Her primary market is condominiums. Hawkes defines a luxury home as being user friendly. “People want to create an ease of living that is push button and that includes media rooms, home gyms and that level of amenities,” says Hawkes. “People are cocooning and love the idea that their home can be a destination resort. Many work very hard and when they get home they don’t want to go out at night; they want to stay in and relax. Homes have become more than just places to sleep; they have become a destination in themselves.” Hawkes also sees luxury buyers investing in kitchens, bathrooms and finishes.

“It’s nothing to see people spending $100,000 to $200,000 on extras for a kitchen. Hot items in kitchens are the appliances: Wolf, Gaggeanu, Sub Zero, Bosch, to name just a few.” Finally, Hawkes sees a change in the way people design the flow of their living spaces. “Living spaces have gotten larger and more open. They aren’t as compartmentalized as homes of the past. Rooms flow into each other and kitchens are open to the entertainment rooms.” As to pricing, she sees luxury homes in her market as generally over $1.5 million.

Rodger Woods, Owner of Old Town Real Estate, LLC, in Abington, (781.878.5701, email: rodgerwoods@aol.com) sees interest rates driving the luxury market. “There are more people in the luxury market due to lower interest rates creating much higher demand for luxury homes and their amenities,” he says. Woods also sees a trend in new construction of luxury properties toward luxury condominiums. “Luxury condos are very hot in our south of Boston market. In a condo, buyers want the same amenities as a house but also want the clubhouse with exercise room, kitchen and large meeting room, and tennis and basketball courts.” Woods sees buyers choosing more amenities in their living spaces including, “sauna, steam-showers, whirlpools; custom kitchens with double ovens, granite, multiple fireplaces (some with gas), media rooms with big screens and surround sound,” to name just a few. He also thinks that exceptional landscaping is part of the appeal of a luxury home.

Woods sees luxury properties in his market generally in the three quarters of a million dollar range for singlefamily homes and $400,000 for condominiums. Carolyn Deal, President and COO of William Raveis Real Estate (888.718.0004, email:international@raveisre.com) describes a luxury property as being a combination of a number of factors, with price being important but certainly not the only benchmark. A four bedroom, two and one-half bath colonial in a subdivision is not a luxury home even though it may carry a high price tag, according to Deal. But a four bedroom, two and a one-half bath colonial overlooking Hingham Bay or the Atlantic would probably qualify.h Deal also points to a new trend she sees in luxury buyers: they're doing their homework and know what they want. And while Deal doesnft think luxury has changed much over the last twenty years, she does see changes in kitchens, bathrooms and entertainment areas, Newer and remodeled luxury homes are featuring massive kitchens with appliances that cost as much as a luxury car. Bathrooms now feature steam showers. Areas for entertaining have gotten more informal and patios sometimes have a full kitchen with the barbecue grill. William Raveis Real Estate serves southern Massachusetts as well as Suffolk and Worcester counties. They also have forty-six offices serving Connecticut.

Geoffrey Rendall, Vice President of Pulte Homes of New England (508.509.2870, email: geoffrey.rendall@pulte.com) sees a new emphasis by the luxury home buyer for what goes into the home, as opposed to the size of the property alone. Open space land planning and the desire among luxury home buyers to be within the 495 belt has meant larger homes on smaller lots, says Rendell. And he adds, It's still location, location, location. Rendell says buyers are looking for locations in a prestigious town [with] high home values, close to employment and culture. As a builder, Rendall sees luxury a bit differently in that it also includes peace of mind; his buyers are looking for homes that are well built, meaning well engineered, utilizing high grade materials and finishes and warranted by the builder. His market is eastern Massachusetts, southeastern New Hampshire and coastal Rhode Island. Prices begin at $700,000 and go up for luxury single-family detached homes, he says.

These real estate professionals share some common understanding of what makes up a luxury home. A luxury home is a property with high-end amenities in the living spaces and, above all else, finishes that enhance these amenities. Recent trends in all these markets suggest luxury buyers are looking for larger living spaces, media and technology rooms and home gyms. Regardless of whether its in Rhode Island, southern New Hampshire, southern Massachusetts or inside the 495 belt that surrounds Boston, luxury is not inexpensive. Prices start in the three quarters of a million dollar range and quickly increase. When you're shopping for luxury, bring a keen sense of whats important to you and bring your wallet. Luxury is in demand and likely to remain so.