En­sur­ing heirs are ready to man­age large sums

Weekend Argus (Saturday Edition) - - PROPERTY -

open liv­ing and en­ter­tain­ing spa­ces, con­tem­po­rary de­sign and mod­ern con­ve­niences.

“New aris­toc­racy buy­ers also want a high level of se­cu­rity and pri­vacy. Ad­vanced home se­cu­rity sys­tems are high on their lists of essen­tials, along with out­door kitchens and pa­tios, high-spec in­door kitchens with com­mer­cial-stan­dard ap­pli­ances and home gyms and spas.

“In-home tech­nol­ogy is also part of daily life for these buy­ers. As the In­ter­net of Things con­nects ap­pli­ances with voice-con­trolled de­vices, smart home tech­nol­ogy cen­tred on sus­tain­able liv­ing is the item of the year.”

Everitt says high-ef­fi­ciency win­dows and doors along with an equally ef­fi­cient heat­ing, ven­ti­la­tion and air- con­di­tion­ing sys­tem that in­te­grate with the smart­phone are prime sell­ing fea­tures.

“Go­ing one-step fur­ther is the ‘whole house con­trol sys­tem’ that syn­chro­nises prod­ucts from var­i­ous man­u­fac­tur­ers and al­lows for a sin­gle, se­cure point of con­tact. This is a par­tic­u­larly hot topic as the price for a prop­erty in­creases.” WEALTH trans­fer has been un­der way for some time, and the rea­sons why are prac­ti­cal. It is as much about teach­ing as it is about their chil­dren and grand­chil­dren be­ing happy.

The gift­ing is about mak­ing sure heirs are ready to man­age large sums of money.

Be­queathers want to see the money be a source of joy for their heirs. This means heirs have a chance to live with “some” money while the earner is still alive. They can teach be­fore the bulk of the es­tate is passed on.

As­set trans­fer is con­cen­trated on the mil­len­nial seg­ment of the new aris­toc­racy. More mil­len­ni­als ex­pect to in­herit, com­pared to gen­er­a­tion X and the baby boomers, and they stand to in­herit more money over­all.

What does this mean for prop­erty?

Lux­ury loy­al­ists are think­ing long term. They want to en­sure their fam­ily is well pro­tected and that they can fo­cus on adding qual­ity in their lives for the years to come.

Fam­i­lies have crafted a moat (pri­mar­ily of cash) that pro­tects their cas­tles and peace of mind. They are look­ing for pro­fes­sional ser­vice providers to con­trib­ute to their qual­ity of life so that clients come to view ser­vices and providers as crit­i­cal el­e­ments in the main­te­nance of their lives, cas­tles and moats.

Source: Lux­ury Port­fo­lio In­ter­na­tional

PIC­TURES: PIXABAY, BROOKE WIN­TERS/UN­SPLASH

Wealthy buy­ers are look­ing for homes with con­tem­po­rary in­te­rior de­sign open liv­ing spa­ces.

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