Blog | Thursday, June 13, 2019
High-End Homebuyer Profile: What Buyers Want From Baja Beachfront Real Estate For Sale
Baja has transformed from a secluded fishing area to a posh resort and residential area. Its jagged mountains set behind crystal blue water provide the perfect backdrop for luxury living, and buyers are on the hunt. From celebrities to wealthy business owners, many are seeking Baja beachfront real estate for sale.
While there are homes to accommodate every lifestyle and budget in Baja, the most recent focus is on high-end, luxury homes. What’s the profile of a high-end homebuyer in Baja? We’ll explore just that.
We’ll answer:
- Who’s buying luxury real estate?
- What do luxury buyers want in a home?
- What can high-end buyers expect while house hunting in Baja?
Let’s get started.
Who’s buying luxury real estate?
What does your typical high-end buyer look like? Those on the hunt for Baja beachfront real estate for sale are often in their 30s, 40s, and 50s. They want an all-inclusive spot to serve as their primary home or a secondary vacation home.
Back in the day, a luxury buyer was an older, white man with a successful company. Today, the face of high-end buyers has evolved.
The most active buyers are GenXers, ranging between age 38-53. Research shows almost half (49.1%) of all high-end buyers fall in this age range, according to a study from Inman.
High-end buyers tend to be married, with an annual income between $500,000 to $1 million. Many own their own business, are in upper management, or have solidified a seat in the tech world.
Further research shows small subsets of elite buyers. A group known as “Xennials” are making a splash in the real estate world. This group, whose name is a combination of Millennials and GenXers, are in their late 20s to late 30s, typically working in creative fields. They tend to gravitate towards up-and-coming areas like the East Cape on Baja’s southern shore.
Another subset is the “Digital Nomads.” This group is about the same age of “Xennials,” but they tend to work remotely at their chosen profession. This group represents one of the biggest shifts in an employment, as more and more employees push for remote positions, or at the very least, some work-at-home hours. A Gallup poll shows 37% of the workforce telecommutes for work at least two times a month.
That’s a glimpse at what the high-end buyer in Baja might look like.
What do luxury buyers want in a home?
Luxury buyers searching for Baja beachfront real estate for sale, often have a list of requirements. What are they looking for exactly? Here are priorities for many elite buyers:
Beach and pool access
It goes without saying that easy beach access is a must, but many still request pools as well. In fact, a pool often lands at the top of the list, followed by a movie theatre, and an outdoor kitchen, according to research from Inman.
Homes with tech
Smart features are also on the list. A smart security system, climate controls, voice activation, and kitchen appliances are in demand. Since many of these devices are fairly new, it’s harder to find them in older homes. While some can be retro-fitted, many buyers are looking for homes built with automation in mind.
Amenities, not just activities
Buyers want to be in the epicenter of activity. In other words, they want a home that’s situated near restaurants, shopping, and outdoor activities.
In pursuit of the best, many elite buyers search for properties with amenities that are a class above the common, crowded experiences. Some high-end buyers even seek out specific properties known for their luxury accommodations and personalized amenities, like Four Seasons Resorts or Aman.
The Four Seasons Resort in East Cape Baja, for example, has its own Adventure Center where guests can book trips and tours in an instant. Plus, guests can grab outdoor gear right at the beach. Want to snorkel? Grab the mask and flippers and off you go.
Near the Four Seasons Resort is a new 18-hole golf course created by Robert Trent Jones, Jr. This legendary course overlooks picturesque mountains and pristine beaches. This is the kind of amenities elite buyers are after. They want activities at-the-ready, without the crowds and booking headaches.
Privacy
Many soon-to-be-residents of Baja want privacy as well. The area is known to lure celebrities and affluent families.
Celebrities like Gwyneth Paltrow, Cameron Diaz, Jessica Alba, Jennifer Lopez, and Ryan Seacrest, just to name a few, frequent the area. Given their prestige, it’s not surprising that another must-have is privacy. Certain pieces of Baja beachfront real estate for sale can offer the kind of seclusion that many in this class search for.
Properties like those tucked inside Costa Palmas, for example, have a natural water estuary flanked with greenery that serves as a natural gate to keep paparazzi away. Plus, the location, away from the party-ridden Cabo San Lucas, provides a quieter, less-traveled escape.
Bigger isn’t always better
There was a time when high-end homebuyers wanted their house to make a statement, and that meant having a large footprint. The bigger the home, the bigger the statement. Today’s luxury-driven consumers are different. They want useable, well-designed space that doesn’t require a lot of upkeep.
Subtle furnishings that are in place before moving in
Even taste in furniture has scaled down. The well-to-do no longer want large, opulent pieces that draw attention. Today’s buyer wants quality, functional furniture that’s subtler in nature.
In some cases, owners want turnkey homes that are fully furnished. Some resort properties allow owners to customize features before the home is built, giving the buyer control over certain features, furnishings and décor, which removes a lot of the move-in hassle.
These turnkey homes have become very popular in ‘second-home markets’ like Miami, New York City, and Baja, according to experts at Mansion Global. The idea of “effortless ownership” is appealing to this demographic. In fact, some buyers are only interested in full-furnished properties, where everything from the living room couch to the silverware is purchased and in place before the owners settle in.
What can high-end buyers expect while house hunting in Baja?
People interested in Baja beachfront real estate for sale will see a fair amount of inventory on the market. The number of available high-end homes is growing along with the market.
If you work with a trusted real estate agent who knows the area, you might get a glimpse at a few properties before they officially go up for sale. In addition, you’ll need a realtor to connect you with other officials involved in the home buying process. Buying property in Mexico is different than it is in the U.S. For this reason, you need the right home-buying team.
Since many elite buyers purchase homes in cash or solid assets like 401k or an IRA, buying Baja beachfront real estate for sale is a wise investment. The cash market provides insulation from bankruptcies and short sales, even when the entire market hits a slump. That’s good news for high-end buyers who look for wise real estate opportunities.
The Evolution of High End Home Purchases
There’s an evolution happening in high-end homes. The buyers aren’t your typical millionaires looking for stately mansions. Instead elite buyers with an eye on Baja beachfront real estate for sale are looking for an elevated style of living in both home choice and amenity selection.
If you’re looking for a luxurious beachfront home in Baja, check out the options available in the Costa Palmas resort.
