Coldwell Banker recently surveyed 300 owners of luxury homes and found that a large percentage were either renovating, remodeling or preparing to invest in a second home (if they didn’t have one already).

The actual survey which was done is called Coldwell Banker Luxury Index and it is conducted with homeowners whose properties are worth $1 million or more.

The study found that 46 percent of the people interviewed already have, or plan on buying a second home, 35 percent plan to remodel, renovate or build an addition on their property and 61 percent of the people interviewed said that recent federal interest rate hikes won’t really affect their luxury spending in the future.

According to the survey the majority of these luxury homeowners have a household income of $150,000 per year or more and many are between the age of 35 and 44.

These homeowners are apparently spending their money on expensive, designer kitchens, high-tech security systems, home theatre systems, boat docks, landscaping as well as cars, jewelry, horses, country club memberships, perfumes, boats and high-end electronic devices like digital cameras, Blackberrys and MP3 players.

According to the Coldwell Banker Luxury Index these wealthy homeowners see no end in sight when it comes to their prosperity. Luxury homeowners continue to improve their dwellings, take vacations, purchase luxury items and expensive gadgets while treating themselves to the best that life has to offer- and why not?

Armed with the information supplied by the Coldwell Banker Luxury Index it should come as no surprise that a mere 11 percent of the individuals surveyed said they would identified their spending habits and lifestyle as “modest and thrifty.”

Maybe life really is better at the top.

If you want write the news for our site please e-mail inf@everythingre.com

To discuss this article Click Here to go to our Online Forum