Who Buys Million-dollar Homes?
Who Buys the Luxury Homes? Owners of million-dollar homes are not who you’d think By Amy Hoak Younger baby boomers who work for a corporation many of whom have household incomes of less than $500,000 make up the majority of people living in the country’s million-dollar homes, according to a recent Coldwell Banker Previews International study. But these homeowners are not living an “ultra-lavish lifestyle,” characterized by amenities that might include heated floors, tennis courts and backyard putting greens, said Jim Gillespie, president and CEO of Coldwell Banker Real Estate Corp. “In reality, the million-dollar homeowner lifestyle is not what you see in the movies,” Gillespie said in a news release. Of those surveyed, only 5 percent had a personal assistant, 4 percent had a live-in housekeeper and 1 percent had a driver. On the other hand, 35 percent of the 300 surveyed owned second homes, and another 35 percent are considering buying a second residence. And Gillespie said he doesn’t
