Lookout Mountain may be the traditional image of luxury living in the Chattanooga area, but lofty heights are not a requirement for many high-end homebuyers.
“It really depends on what their interests are,” says Kathy Rohsenberger, a certified luxury agent with Coldwell Banker Kinard Realty whose recent listings have included homes in Chattanooga, Signal Mountain, Lookout Mountain, Harrison, Ooltewah and Cleveland.
According to Coldwell Banker’s metrics, she says the baseline figure for a luxury home in Chattanooga is about half a million dollars. “It’s different based on the area of the country you live in,” she adds. “A $500,000 house would not be considered high-end in New York, of course, or California. In San Francisco, $500,000 might get you a lot,” as in, a parcel of land.
Brad Pruitt, president and CEO of Signature Auctions, which brokers high-end real estate, says he’d put the local baseline for a luxury home even higher.
What homeowners want
The 2019 State of Luxury report from Coldwell Banker says high-end homebuyers are looking for amenities that:» Appeal to wellness. Using high-end condos as an example, the report says the “bare minimum … is to have state-of-the-art exercise equipment with separate rooms for yoga, meditation and spaces to meet with physical or massage therapists.” Also popular are saltwater pools, as well as special lighting and air and water purification systems in exercise and recreation areas.» Embrace technology. Buyers want homes that can integrate technology into their lives, whether through smart-home features or systems that make it easier to receive packages or ride-shares. The Ten50 tower, a condominium development in Los Angeles, for example, is equipped with a drone landing pad for deliveries by air.» Accommodate pets. “Pets are really important to owners, especially dogs, so in just about every new development you see dog walking areas, some with doggie spas and dogs on treadmills, doggie day care [and] pet washing stations,” says the report.