The super wealthy look at their property requirements a little differently to the rest of us.
While agents working in the luxury market say privacy, security and a splendid view always top the list of must-haves, the rich also like to have space for other essentials like a “gift wrapping room” and perhaps another room to pamper the pooch in.
READ MORE: Find out if your suburb is rising or falling
Then there’s the “well-being room” where some calming yoga might take place, though this room might also be set up for at-home spa treatments so there will be a big bath surrounded by soothing candles and also a massage table, says Julie Fitzpatrick, of Barfoot & Thompson Remuera.
Start your property search
There will be a wine cellar which will have integrated racks for hundreds of bottles of wine. No need in these multimillion dollar homes to pop down to the supermarket because you’ve run out of red – and there’s often a tasting area/tasting bar.
The home will usually feature a full entertainment bar as well, but that’s par for the course these days, Fitzpatrick says.
Luxury homes will generally be smart homes with integrated audio, media and climate control.
Infinity pools are a must for modern luxury homes. Photo / Getty Images
Detox in your own private wellbeing studio. Photo / Getty Images
People also want a home cinema, lifts between floors, a cabana/loggia with an outdoor fire and heating, and a pool house.
If the house is on the beach, there is likely to be a boatshed presented mainly as an entertainment hub and a “boys’ getaway area”, and a guest house is always a plus.
Then, of course, there is the “show garage” which is likely to have glass windows to show off the multiple cars, and these may include anything from Porsches and Bentleys to Range Rovers, though women often like a sporty Fiat to run about in.
In the old days the super wealthy all had ballrooms but you don’t see much of that now, Fitzpatrick says.
Gold class: A trip to the movies from the comfort of your own home. Photo / Getty Images
Most homes at the top end of the market have a wine cellar. Photo / Getty Images
You do see top-of-the-range double appliances, so double washing machines, dryers and double dishwashers. A separate laundry is a must and here you will find an ironing facility, hanging racks, heated towel rails and heating cabinets for the skiwear or wet raincoat.
A helipad would be nice, Fitzpatrick says, but restrictions for landing in central Auckland make it a bit restrictive.
While internet mogul Kim Dotcom’s lavish mansion in Coatesville was infamous for having a panic room, which was accessible via a secret panel in a cupboard, Fitzpatrick, and other agents spoken to, hasn’t come across such a room, though she has encountered a walk-in safe.
A commanding view of the sea is the top feature buyers look for in the luxury market. Photo / Getty Images
Most luxury homes have a safe and they also have plenty of security, so automatic gates with cameras are routine.
Auckland real estate agent Michael Boulgaris says 10 years ago the mega wealthy wanted tennis courts but because land is so expensive, at least in Auckland, these days it’s all about showing off your view over the sparkling Waitemata Harbour.
To get both a tennis court and a view on the northern slopes of Remuera, or in Paritai Drive, you are looking at anything from $20m to $30m, he says.
Instead, people are concentrating on multiple lavish entertaining areas which take advantage of the view.
“Generally, there’d be three entertaining areas, if not four. There’d be informal rooms, most definitely a media room and probably a gymnasium.”
And while you’d be right in thinking a luxury home these days includes an infinity pool, Boulgaris says sometimes one pool is not enough.
Luxury kitchens and bathrooms go with luxury houses but Boulgaris says the rich often aren’t too bothered about whether there’s a butler’s pantry or not.
That’s because “anyone at that level will just knock a few walls out and build their own kitchen.”
Most mere mortals might keep their kitchen for 20 years but Boulgaris says the very rich change theirs every three to five years.
He agrees everyone wants privacy first. “A lot of these expensive homes have very, very tall hedges on either side.”
Another agent to the wealthy, Graham Wall, says the most important factor in really high value property is almost always water, “its proximity to the sea and big views.”
The rich also look for homes which have been designed by certain architects.
“People like Fearon Hay, Christian Anderson and Lawrence Sumich; their name on a property makes it more valuable.”
People see those names and they know that’s a good brand, like Mercedes Benz and Rolls Royce, he says.
- A version of this story was originally published last year.
