The U.S. has experienced sluggish labour market growth during the last 12 months, as while the rate of unemployment has fallen consistently it has been suggested that this is primarily due to the creation of temporary, low paid jobs. While this has served to bolster the ranks of the working poor, however, it also offers an insight the widening wealth gap that exists in America.
More specifically, recent data compiled by the AFL-CIO has revealed that the average level of CEO pay in the U.S. has soared to $12.3 million during the last 12 months. Inclusive of salary, bonuses and stock awards, this represents a level of remuneration that is 350 times more substantial than the average workers salary of just $20 per hour.
Creating the Wow Factor in your Luxury Home
While this widening wealth gap may continue to cause controversy, however, rising CEO salaries are contributing towards more robust consumer confidence and growth within the luxury market. Increasingly, high earners in the U.S. are looking to invest their capital in high end, luxury property, which can then be developed to create the ultimate wow factor among guests and visitors. This is at least having some form of positive impact on the U.S. economy, and driving sustained growth within the luxury property market.
With luxury home-owners unperturbed by financial concerns, their main challenge consists of embracing contemporary design trends and distinguishing their properties from those around them. With this in mind, what practical steps can you take to increase the appeal of your property and create a genuine wow factor? Consider the following: -
Focus on Designing the Ultimate Bathroom Space: One of the key trends in contemporary luxury design is the development of functional rooms, such as the kitchen and bathroom. More specifically, interior designers have come to realize that these spaces are the most widely visited in any home, and therefore ideal for engaging visitors and creating a mesmerising first impression. The way in which you design your bathroom space is particularly important, as the installation of sophisticated under-floor heating solutions and heated demister pads are relatively affordable and breathtakingly simple ways of creating a luxurious aesthetic. Another way to achieve this is by fitting a rain shower, which features a large head and is capable of immersing the user in high volumes of hot, soothing water.
Create a Home Theater: Luxury property is usually defined by its size and quality of interior design, while its capacity to enable stylish living is also of considerable importance. It also possible to reinforce a luxury aesthetic by developing unique and entirely distinctive rooms within your home, however, as these create a wow factor and distinguish your property from others nearby. Creating a fully functional home theater is a relevant example, as this is not a room that all properties have and it allows you to entertain your guests in a unique and interactive manner. In order to achieve this, you will need to purchase a large screen television to serve as a focal point and also invest in luxurious fixtures and comfortable seating. Resources such as the theaterseatstore.com even offer you the opportunity to purchase these items in bulk, allowing you to create a luxury room while also saving money.
Develop Open Spaces and Optimize Natural Light: While lavish accessories and design themes may be applied to create a luxury aesthetic, there are also more simplistic methods of achieving this aim. By opening up the rooms in your property and maximizing the influx of natural light, for example, it is possible to offer the illusion of space and develop an overwhelming sense of understated style. So while adopting a minimalist approach to furnishing your home is a good place to start, you should also consider investing in high quality frameless doors that enable natural light to engulf a conservatory or living area. The impact of these simple actions is incredible, especially if you aim to enhance your luxury abode while also achieving value for money.
$8.2M "The Ark" is a Fully-Furnished Ode to Modern Art