While you may not immediately think of the Hamptons as being a hot-spot for new development, think again. Vacant lots in prime locations have been purchased and developed with gorgeous, brand new, state-of-the-art homes. Like the smell of a new car, the marker of a new Hamptons shingle-style home is the fresh cedar shingles that haven’t yet weathered. Luxury buyers are supporting the trend of new development, favoring the amenities these homes offer and the alignment with their modern lifestyles.
We asked Raphael Avigdor and James Peyton of Douglas Elliman Real Estate, whose team specializes in land sales and new development in the Hamptons, about the factors affecting their buyers’ decisions. “We find today’s buyer wants the convenience of a turnkey, energy efficient home, outfitted with modern remote technology requiring minimal upkeep and maintenance,” say Avigdor and Peyton.
Homes such as 535 David Whites Lane in Southampton, NY offer every amenity a buyer could want and more. This home features eight bedrooms, eight full bathrooms and two half bathrooms, a four-machine laundry room, a game room, gym, heated gunite pool and spa, a sunken Har-Tru tennis court and smart home technology. Not to mention the custom cabinetry and top-of-the-line appliances.
“Buyers want useful features that facilitate ease and convenience for their lifestyle,” Avigdor and Peyton say. “When buyers come through for a showing they try to visualize their daily life in the house paying close attention to the amenities they need to make their lives easier and more enjoyable.”
One feature that has been popular in Hamptons homes recently is the mudroom. Oversized mudrooms with a full bathroom and laundry to handle the mess from the day’s outdoor activities are desirable to buyers. In addition, an outdoor fireplace or backyard fire pit are valued as a centerpiece to gather around with friends and family. “Discerning buyers want the amenities that bring people together,” say Avigdor and Peyton.
As for architecture, though traditionals with sweeping gables and Dutch gambrels never go out of style, Avigdor and Peyton have noticed a re-emergence of modern designs with open floor plans and an abundance of natural light as seen in the seven-bedroom, seven-and-a-half-bathroom Sag Harbor, NY home at 74 Hillside Drive.
While every town and hamlet from Southampton to Montauk offers great investment opportunities in all price ranges, luxury properties north of Montauk Highway may offer a better value compared to their brethren south of the highway. Working with a team of real estate professionals who are knowledgeable on the home values and comps in your target community can be extremely beneficial. You can rely on their ability to identify opportunities that arise and execute quick transactions.
One client Avigdor and Peyton worked with spent two years looking for an older home that checked all the boxes and never found it. “We guided him through a land and build situation that included all the bells and whistles his family needed. In the end the house was so fantastic another family made an offer and bought it. He realized there was a special niche in the market for discerning buyers who wanted the same amenities that he and his family desired and now he has built 7 homes over the past 4 years.”
Find your next Hamptons home here or contact a Douglas Elliman agent to start your search today.