New Luxury: Time & Low Maintenance

Credit: Clarity Home Interiors

As an architect, designer, or other trade professional, you may have heard the term “new luxury” thrown around quite a bit recently—but what does it mean? New luxury refers to a relatively recent cultural shift that is changing the way people live their lives. And major changes in consumer lifestyle can also affect the way brands and businesses operate to meet consumer demands.

By having a better understanding of new luxury and what it entails, as well as what it means for you and your clients, you can forge your business forward with confidence.

What is the “New Luxury” Movement?

Specifically, the new luxury movement marks a major shift in priorities for the “typical” consumer. These consumers still love luxury, and they’re willing to pay for it, but they’re more focused on intangible luxuries, like being able to travel and enjoy new experiences.

Time is also being valued more than ever before in the new luxury movement. With more hard-working people spending time away from their homes and families to build their careers, time spent with loved ones or cultivating new hobbies is more precious than ever.

Credit: Clarity Home Interiors

What This Means for Home Builders and Designers

So, what does this shift in mentality and priorities mean for home builders, designers, architects, and the like? We’re already beginning to see a shift in what a “luxury” home looks like. Today, fewer people are buying 20,000-square-foot homes on 10-acre lots, as these can be time-consuming, costly, and cumbersome to maintain.

Today’s luxury home buyers still want high-end features and finishes, but they want them on a much smaller footprint than luxury homes of the past. This allows them to spend less time maintaining their homes and properties and more time enjoying them with family and friends.

From a cost perspective, smaller homes (3,500-6,000 square feet) are also more affordable to maintain. These smaller sized homes may opt to have cleaning and landscaping services, but things like property managers and help from outside resources aren’t needed, so they tend to be less costly. The end result? These lower overhead costs leave more room for buyers to own multiple homes in different areas and allow them to travel and experience more. This is perhaps why we’re beginning to see larger homes (around 20,000 square feet) in rural areas sit on the market for longer than ever before.

This shift in the definition of luxury is reflected not just in the Baby Boomer generation, but younger generations and young families as well.

We’re also noticing that buyers prefer to be closer to city centers than ever before. They want to be able to walk to dinner and local amenities rather than driving a car 20 minutes into town. All of this is marking a very fundamental shift in the way consumers view luxury living.

Credit: XTone

Catering to New Luxury Clients

If you’re in the business of home building or designing, being able to deliver high-end products in a smaller footprint will become increasingly important. It’s all about making the biggest impact in a smaller space—and providing clients with low maintenance products that will save them time and make their lives easier. In the stone industry, there are quite a few products that can do just that.

Engineered quartz, for example, is becoming an increasingly popular alternative to marble due to its incredible durability and low maintenance. This man-made stone can be manufactured to achieve the appearance of marble or other natural stones but is more resistant to scratching, staining, and etching due to its inherent hardness. As a result, clients will never have to worry about sealing, resealing, or having to do other maintenance responsibilities that can come along with other materials.

Porcelain is another material that caters well to the new luxury movement. This low maintenance and cost-effective material can be installed in both tile and slab form for a durable, beautiful, and sleek finish. Porcelain is also extremely versatile and can be incorporated easily into many projects. For instance, porcelain tile can be used for a low-maintenance, yet eye-catching floor—or a porcelain slab can create a focal point on a bathroom or shower wall.

CT Stone is in a great position to cater to new luxury clients, offering low maintenance stone products that are perfect for residential applications. Contact our team today to find out more about how we can help you deliver incredible results to your new luxury consumer base.

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