Among the UHNW (Ultra High Net Worth) individuals across the country there seems to be a shift in the market regarding residential real estate.
For years, developers would design and build custom "spec" homes for the high end market. However, times are quickly changing as UHNW buyers are returning back to the school of old where prominent architects would be commissioned to design a home for America's elite, and the individuality and character of it was heavily emphasized.
While there is still incredible value in older homes and new construction speculative inventory, the demand for the unique home to be built for the individual consumer is the direction the market is heading.
Architects are back in the creative business for residential real estate. After years of consumers buying homes similar to their neighbor's, now they're ready to develop, or redevelop, something distinct and architects love it. They get the chance to do what matters to them most. Create a piece of work that transcends pass the level of a home.
It's a work of art.
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