What will 2020 bring?Â These four trends are expected to impact luxury buying and selling in the new year and decade ahead.Â
1. Luxury Housing Holds Steady
This year, expect âguarded optimismâ to replace last yearâs uncertainty over fears about a global economic slowdown, a U.S.-China trade war and a potential U.S. recession, according toÂ Mansion Global. This is encouraging news for luxury real estate, which has traditionally been tied to global economic growth, yet is generally more insulated from market fluctuations. Many U.S. luxury housing meccas are generally stable, while some high-end hotspots like Los Angeles and Miami could be poised to rise or make a comeback in 2020.Â
2. The Rise of the Mid-Sized Luxury MarketÂ
WhenÂ realtor.comÂ released its annual list of the hottest markets last December, surprise cities like Boise, McAllen, Texas and Tucson topped the list. “The cities that we expect to do best in 2020 are not necessarily big, fancy, coastal cities, but secondary markets where the job market is still pretty good but housing is affordable,” said Danielle Hale, chief economist of realtor.com. Affluent buyers from high-cost cities want a good deal as much as anyone â so we expect to see midsized cities with stable and solid economies and more affordable housing as the top performers in 2020.Â
3. Less Square Footage
âLessâ is becoming âmoreâ â even in the highest price segments. Consistent withÂ NAHBÂ data that found the average new single-family home size has been trending lower since 2015, realtors in some luxury markets are reporting that a growing number of affluent buyers are willing to “trade space for place.â This is especially true in the luxury condo segment, where buyers are increasingly getting flexible on square footage if a building has amenities or hospitality programs attached to it.Â
4. Urbanization of the âBurbs, Emergence of âHipsturbiasâ
People are moving back to the cities, itâs true â but as millennials start families another phenomenon has emerged, according to Emerging Trends in Real Estate 2020, a report released by Urban Land Institute and PwC: âhipsturbias.â Hipsturbias are suburban markets with hip or cool live/work/play environments offering walkability and/or transit access. Brooklyn is a prototype, but hipsturbia examples are beginning to crop up across the U.S. â from New Jersey communities such as Hoboken, Maplewood, and Summit, to New Yorkâs Yonkers and New Rochelle, to Evanston, Illinois and further out west â Santa Clara, California, and Tempe, Arizona.
Which trend do you see impacting your community?
The post Luxury Real Estate Trends to Watch in 2020Â first appeared on Century 21Â®.
As part of his plan of leaving Los Angeles and moving his family to the Big Apple, Matt Damon has now listed his Pacific Palisades home for sale. And he’s hoping to cash in big from the sale, asking $21 million for the Zen-inspired contemporary home set in one of LA’s most desirable neighborhoods.
Recently listed with Eric Haskell, an agent with celebrity real estate brokerage The Agency, Matt Damon’s house is an architectural masterpiece with 7 bedrooms, 10 baths, tons of distinct design features and some pretty extraordinary amenities. The Academy Award-winning actor will be trading all this for a 6,000-square-foot penthouse in Brooklyn, New York, having broken records last year by paying $16.745 million for the top floor unit of a famous former hotel, The Standish.
An architectural gem with striking features & Instagram-worthy interiors
Designed by award-winning architect Grant Kirkpatrick, founding partner of leading-edge design studio KAA Design Group, Matt Damon’s house is an extraordinary contemporary home that showcases masterful craftmanship throughout its 13,508-square-foot interiors.
With a modern-yet-timeless design, the house is anchored by a breathtaking atrium with 35-foot mahogany vaulted ceilings. The interiors are bathed in natural light and mix warm wood elements with natural stone, giving the whole space an inviting, relaxing vibe. Other striking features that deserve a shout-out: clerestory windows and glass walls that fuse the indoors with the outdoor areas.
The family room opens to the magnificent chefâs kitchen with custom mahogany cabinetry, Bluestone countertops and stainless steel Viking, Wolf and Miele appliances. The kitchen then opens to the expansive backyard retreat (but more on that in a minute).
All in all, Matt Damon’s soon-to-be former Los Angeles abode packs 7 bedrooms and 10 baths across 13,508 square feet of space. The primary suite comes with its own private terrace, dual dressing rooms, massage room and a spa-style bath with soaking tub and expansive shower. Pretty much every room offers leafy property and treetop views, adding an extra note of serenity to this wonderfully Zen-inspired home.
Amenities galore and a wonderful backyard retreat
Most celebrity homes tend to outdo themselves when it comes to amenities and bonus rooms and Matt Damon’s house is no exception. Interior amenities include a game room, bar, office, gym, plush media room, staff quarters and wine storage and tasting room. And that’s just what you’ll find inside the house.
Outside, the modern home has quite a few amenities that invite calm and relaxation (perfectly in tune with the rest of the house), including an expansive pool, spa, a cascading waterfall, koi pond and Hawaiian-inspired Lanai with a covered lounge and alfresco dining terrace. To appeal to the little ones — Damon is a father of four — there’s also a nice childrenâs play area.
Matt Damon’s next home is vastly different from his Los Angeles digs
The Academy Award-winning actor, who is starring in the highly anticipated Ridley Scott-directed The Last Duel (to be released this year), will soon be leaving Los Angeles behind. The move has long been planned, with Damon and wife Luciana BozÃ¡n Barroso having purchased a Brooklyn Heights penthouse two years ago for a record-breaking price.
The couple paid $16.745 million for a 6-bedroom, 6,201-square-foot penthouse at The Standish — a historically significant converted building that was originally built in 1903 as a Beaux Arts hotel. At the time, Damon’s purchase set a new record for the borough, making him the owner of the most expensive property ever sold in Brooklyn.
Despite the fact that the penthouse consists of several units merged for extra space, the actor will be downsizing considerably. And the loss in square footage is matched by a significant downgrade in outdoor space — though it’s worth noting that Matt Damon’s new home does have an expansive terrace, a rarity for New York City. There’s no Zen backyard pool though, so we’re pretty sure the Good Will Hunting actor will, at times, miss his Pacific Palisades retreat.
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A gorgeous, sprawling Connecticut estate with ties to The Beatles, Prudence Farrow, and the Gershwin brothers is up for sale in Westport for $9 million.
The seven-bedroom, eight-bathroom, 9,360-square-foot property at 157 Easton Road, also known as River Run Estate, is being marketed by Compassâ Susan Vanech. It was originally built in 1955, and completely renovated in 2020, pairing old-school charm with modern-day amenities.
The marketing for the resort-style estate is inspired by John Lennonâs âImagine,â as a reflection of the home being restored and getting a new lease on life. But there is also another, far more fascinating connection to The Beatles.
Their song âDear Prudenceâ was based on Mia Farrowâs sister Prudence Farrow, who fell into a deep depression during her teenage years after her fatherâs sudden passing. John Lennon and George Harrison, who were in the same social circles as Prudence, wrote the song to help lift her spirits — and it ended up becoming a massive hit.
At the time, Prudence Farrow was living at the River Run Estate, and in her memoir, she describes hiking in the woods near the property, canoeing, skating on the pond, and playing with the neighborhood kids.
Back when Prudence resided at 157 Easton Road, the property was owned by violinist and photographer Leopold Godowsky Jr., and his wife Frankie Gershwin, younger sister to George and Ira Gershwin (the songwriting team whose songs were synonymous with the sounds and style of the Jazz Age). The frequent parties and gatherings at River Run Estate are said to have maybe inspired some of the Gershwinsâ most popular compositions.
The estate is the epitome of relaxed, outdoorsy Connecticut living, featuring personal tennis courts, a home gym, and access to the river waterfront with waterfalls to canoe, paddle, or swim.
There are also plenty of walking and hiking trails, as well as a pool and spa with a steam room. The outdoor area also includes a river house and a greenhouse, so the property would be an ideal fit for someone who loves the outdoors and enjoys being in nature year-round.
Inside the property, there is an exquisite ownerâs suite, as well as separate guest quarters for when friends or family come to visit. The home incorporates quiet offices, perfect for a work-from-home setup, a spacious dining room, multiple fireplaces, and fantastic views.
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Fall is one of the most exciting seasons of the year. The trees, the smells, the comfy sweaters and pumpkin spice lattes; itâs a cozy, wonderful time and who wouldn’t want to enjoy that warm vibe all year long? And since this is the season that prompts us all to spend a little more time inside, homeowners and renters alike tend to step up their interior decor game and invite the fall into their homes, adding notes of warmth and pops of color that are typical for the fall season. If youâre one of the many people that love fall
I don’t know about you, but for me, a bathroom goes well beyond its practical uses; within the past years, I’ve come to think about it as a sanctuary of sorts, that room of the house that’s dedicated to pampering, relaxing, and deconnecting — a place where I can enjoy some alone time and use that alone time to take care of my skin, hair, body, and mind.
And just like any other space in my house, the more beautiful my bathroom is, the more I can enjoy the time I spend in it. But re-designing a bathroom or remodeling it altogether is quite an investment. That’s why today we’re going to look at a few handy ways in which we can improve our bathroom’s design without having to spend a ton of money in the process. Here are some tips to help you maximize your bathroomâs function and style while saving money — both on the short and long run:
For example, solid wood or plywood may not be a good choice for furniture, as it will likely warp and crack (and it can even lead to mold). Instead, a way better — and longer-lasting — choice would be PVC, which is extremely durable, completely waterproof and offers a great look and feel as well for bathroom cabinets. When buying blinds for your bathroom windows, choose waterproof blinds because they are stain and mold resistant, as well as fade-free. When picking appliances, make sure to avoid any metal that might rust, and preferably stay away from plastic; some of your best choices are brass, stainless steel, and zinc (or zinc alloys), as they stand the test of time and add a note of style to your bathroom.
Overall, focus on materials that can withstand humidity and water. This way, you donât have to spend money replacing them and you can rest assured that your bathroom will maintain its clean and brand-new look over the years.
#2 Widen and brighten your space with mirrors
Instead of adding a skylight or a new window to brighten a rather gloomy bathroom (which would call for a pricy renovation), consider using a large mirror, re-painting your walls in a light color, or adding extra light fixtures. These can all help create the illusion of space, making your bathroom look wider and brighter. Obviously, this technique is much more affordable than having to install an additional window to your bathroom space and you’d be surprised at how much of a difference adding a large mirror can make.
If you feel like you don’t have the space to add an additional mirror to your bathroom, consider replacing the mirror above your vanity with a far larger one. Bonus tip: choosing an unusual shape or a unique frame for the vanity mirror (like the one in the image below) can give an impressive look to your bathroom, and act as the centerpiece of the room.
#3 Update by regrouting
If youâre looking to update your bathroom quickly and on a tight budget, consider replacing the existing tile grout. RegroutingÂ is a two-step manual process by which you first remove the hardened old grout from the seams, or joints, between the tiles in your bathroom, then apply fresh new grout to make it seem like you have just installed your tiles (here’s a full walkthrough of the process). You’d be surprised how big of a difference this fairly simple update can make — especially since tiles rarely show signs of wear and tear, but the grout’s initial color fades away, and often gives a sense that it’s dirty, discolored and old.
This idea works best if the tiles in your space are still in great shape, that is, they donât have cracks or missing pieces. Although it may take a bit of work, itâs surely faster and cheaper than a major bathroom overhaul. Fresh grout will make the tiled area look brand new, and you can even apply a new grout color to make a more dramatic change to your bathroom.Â
#4 Get creative with designer tiles
Now, if you’re looking to add a splash of sophistication to your shower or bathroom tiles, but don’t have the budget to splurge on designer tiles, there’s a super easy trick you can turn to: use regular, budget friendly tiles across the walls of your bathroom, then add a pop of design and color in a small area using more expensive designer tiles.Â
Or, you can keep it simple and use classic tiles, but arrange them in an unusual pattern or install them at an angle to create an eye-catching effect. If you’re looking for the maximum effect, create an accent wall (preferably right where either the shower or bathroom vanity go, to highlight that space), like the one pictured below. It won’t cost as much as replacing all of your bathroom tiles, but will definitely give your space a great, updated look.
#5 Try to avoid current trends
We all like to think that we’re aligned with the latest trends and fads. But the truth of the matter is, the best way to waste money is to follow fads that in a couple of years will seem so outdated that youâll feel the need to renovate your bathroom all over again. You can make your design last way longer if youâll use natural finishes and neutral colors.
Classics also tend to be considerably less expensive than their trending counterparts, and they’re much more likely to stand the test of time. See below for a marble-themed bathroom that was all the rage a few years back, but that seems a little out of place in the more minimalist-inclined era that we live in today.
Because of this, you may be forced to buy new coordinating pieces, too. However, if youâll stick with traditional finishes, it will be simpler for you to create a cohesive look while still sticking to your budget.Â
#7 Re-use old furniture to create a unique look
If you have an old desk, table, dresser, or TV stand, consider using it in your bathroom (provided it can withstand humidity and isn’t easily prone to water damage, as we’ve stated above). Repurposing old furniture will give you a chance to show your personality while adding much-needed bathroom storage. Consider doing this as a DIY project, which can help you save money while also being earth-friendly.Â
Replacing bathroom elements will usually require removing or replacing plumbing fixtures, which comes with additional costs. It can also involve construction changes, demolition work, and new installation.Â Before deciding on replacing any of these fixtures, determine if they really need replacement. If youâre replacing them for aesthetic reasons, you might have the option to refinish them instead of replacing them altogether.Â
For example, you can refinish your old tub with a nice-looking, protective coating instead of completely replacing it. You can also paint your cabinet anew instead of purchasing a new one — and you can even get creative with the color you use. Check out this elegant bathroom below, whose owners chose to refinish the bathtub and paint it in a slight pinkish hue. Isn’t it just lovely?
The bathroom is one part of the house that needs some upgrading every now and then, and said upgrades can turn out to be quite expensive. However, with some rather small, but well-thought changes, you can spruce up your bathroom design without spending a pretty penny. And if our suggestions are not to your liking, there’s tons of helpful resources out there that can give you some great ideas to get you started.
More interior design tips
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