South And West Palm Beach Luxury Properties as New Fashions Emerge

Once its asking price indicates a listing qualifies as one of South And West Palm Beach’s luxury properties, the market profile changes considerably—especially in today’s environment. Since the buyers of million-dollar homes are generally those who own a variety of other investments, they are unlikely to be greatly affected by the increase in monthly mortgage interest rate payments. If they aren’t out-and-out cash buyers, they usually have access to financial instruments that make a luxury home purchase less costly.

South And West Palm Beach Luxury Properties: No $1.2 Million Lounges (Yet)

For South And West Palm Beach luxury home shoppers, a significant portion of their due diligence will be determining that any property which gets an offer supports its hefty price tag—in other words, its investment value. That’s where a part of the luxury market differs slightly from much of the rest of the real estate world: notably in what you might call “fashion-consciousness.” Last Thursday, the Homes section of the Wall Street Journal explored a prime example with its feature, “Sure, You’ve Got a Wine Cellar. What About a Whiskey Lounge, or a Tequila-Tasting Room?”

Although there isn’t a lot more to explore after you’ve seen that title which pictures a 23-acre Stony Point, N.Y. estate whose custom wine cellar holds about $2 million worth of Opus One. This points to the possible emergence of the Next Big Thing: estates that have “plenty of places to enjoy a cocktail.” Wine-tasting rooms are hardly new features for the luxury home scene—but now the addition of a whiskey-and-cigar lounge, glass-enclosed custom wine cellars, and/or other varieties of “multiple rooms devoted to alcohol” is gaining popularity.

Interest in spirits had already been building before the forced isolation from Covid accelerated it—including a growing legion of collectors of collectible spirits. One new Bel-Air spec house includes a tequila bar whose light-up shelves make its bottles of Don Julio 1942 “appear to glow;” a champagne bar with $300 bottles of Armand de Brignac; and an “expansive” storage room. Another Denver interior designer has created $100,000 speakeasy-type rooms for two different clients who, following the pandemic, “are eager to entertain.”

An interesting detail about the Stony Point mansion is that the man of the house is a teetotaler. His two sons drink whiskey and the Mrs. appreciates red wine, but Raja Amar is quoted as saying he sticks to bottled water: “I like to collect—that’s what I enjoy doing.”

Get In Touch With Your Florida Mortgage Expert

As yet, no $1.2 million whiskey lounges have been featured in any of our local luxury homes for sale—but there are plenty of other amenities that make today’s listings well worth exploring. Call us at (561) 316-6800 for more info.