Luxury, Luxury, Luxury The Second Rule Of Real Estate In The Hamptons

In an area of the country where average home sale prices are quickly approaching $1 million, buyers expectations of existing home features are also on the rise. To the wealthy seekers of a home in the Hamptons, amenities such as home theaters and heated pools with water features are no longer considered luxuries but standard commodities.

THE HAMPTONS, NY OCTOBER 18, 2004 -- In an area of the country where average home sale prices are quickly approaching $1 million, buyers expectations of existing home features are also on the rise. To the wealthy seekers of a home in the Hamptons, amenities such as home theaters and heated pools with water features are no longer considered luxuries but standard commodities.

Multiple bathrooms are a popular feature in many new homes. I recently showed a home with six bedrooms and seven and a half bathrooms, said J.R. Siwicki, principal broker of Hamptons Realty Groups Water Mill office. Buyers are increasingly requesting that every bedroom have its own bathroom, he noted. Buyers are also looking for bathrooms boasting spa-like features such as Jacuzzi tubs with waterfall faucets, steam rooms, and his and her spaces with individual sinks and showers.

First floor master bedrooms, super-size master suites, and multiple master suites are also sought-after features of the upscale Hamptons home. Ive had many people ask for two master suites instead of one, commented Htun Han, principal broker of Hamptons Realty Groups Amagansett office. He adds that, Buyers looking to rent their homes request more than one master suite to appeal to prospective renters. It eliminates the bickering over who gets the big bedroom.

Stan Esposito, principal broker of Hamptons Realty Groups East Hampton office, notes an increased demand for advanced security systems, water leak detection devices and temperature sensors in high-end homes. Located in first or second floor laundry rooms, he says, The water leak device is activated to automatically shut off the water supply when a leak is detected. The temperature sensors prevent pipe freezing when temperatures drop below 39F. Regarding home exteriors, he remarks that, owners want a complete house thats ready to move into, with finished landscaping and sprinkler systems.    

What if a buyer falls in love with a property whose home lacks in upscale amenities what it makes up for in location? No problem. Either gut it or tear it down! There was a 1920s home in Southampton that recently sold for more than $2 million, said Pat ODonoghue, principal broker of Hamptons Realty Groups Southampton office. The buyers tore it down and only kept the pool and stone pool house, he said. Mr. Han also noted the current condition of a home on Amagansetts Bluff Road, an area known for stunning ocean views. It was a classic century-old shingled home that was raised and completely gutted, sitting on a new foundation, he said. Only the original framework remains, ready to be expanded and completed into an up-to-date family home with all the requisite amenities.

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About Hamptons Realty Group
Hamptons Realty Group was founded in 2004 and is led by a group of four Hamptons brokers (with more than 100 years of combined experience) who joined together to expand their coverage area and to better serve their clients. Hamptons Realty Group is a resource for superior real estate service and local expertise covering the Hamptons, South Fork and Shelter Island. With offices from Southampton to Amagansett, the experienced network of real estate professionals at Hamptons Realty Group offer unsurpassed knowledge and a proven track record in all types of properties - homes, land, rentals and commercial real estate. Hamptons Realty Groups state-of-the-art website (www.hrg.com) is networked to all offices and is continually updated on a real-time daily basis, as new properties go on the market, and others are sold.