Luxury Homeowners looking to purchase additional residences in the next two years

In its latest consumer-trend study, Architectural Digest has united with Sotheby's International Realty Affiliates, Inc. to find that affluent homeowners are planning to acquire additional residences in the near future. The study, "Seeking a Luxury Lifestyle," discovers that one in three Architectural Digest subscribers (36%) intend to acquire a secondary/additional home in the next two years. The study further reveals:

• Of those Architectural Digest subscribers who already own three or more homes, 49 percent plan to acquire an additional home within two years
• Of those who already own a second home, 35 percent plan to acquire a third home within two years
• In an indication that young affluent consumers are in the market for second homes, 44 percent of those under age 45 stated that they may acquire a second home in the near future.

Although geography is the primary driver when it comes to searching for a secondary residence, lifestyle amenities are becoming increasingly critical. Approximately one in three (32%) of the Architectural Digest subscribers measured know the characteristics and amenities they desire and would search in a number of geographic locations to find the home that matches what they want, rather than looking purely by location.

Subscribers with household incomes under $400,000 (38%) are more likely than their wealthier counterparts to indicate they would search in a number of locations to find the house that meets their amenity checklist.

The study finds that waterfront property (75%) is the most sought-after amenity when buying a secondary residence. Surprisingly, gourmet kitchens (10%) and swimming pools (5%) were among the least significant amenities.