Forget the Pool or Even the Living Room—‘Our Closet Time Is Precious’
Some homeowners are taking the coziness and intimacy of the primary suite’s walk-in wardrobe to the next level and transforming it from functional storage into the home’s centrepiece
4 min
A room you might not expect comes to mind when home seller Karen Haines reflects on fond memories at her Hollywood Regency-style house in Palm Springs, California: her bedroom closet.
“Forget the great room, swimming pool or hot tub. All the action in the house happens in the closet. It’s where everyone wants to be,” said Haines of the enormous space, which is decked out with white tones, mirrors, marble and gold finishes, and has double sinks with bird-shaped faucets.
Haines and her husband, Chris, are selling the house, designed by acclaimed architect Robert Marx and on the market with Douglas Elliman for $5.2 million. The couple, both entrepreneurs in the music industry, usually keep classic rock ‘n’ roll playing in the closet all day, she said.
“My daughter and I try on clothes in there, and Chris and I drink coffee in the morning and cocktails come evening,” she said.
For most homeowners, closets are merely functional—that is, a place to hold clothes, accessories and other items that they turn to for everyday wear. Some, however, are taking the coziness and intimacy of the primary suite’s walk-in closet to the next level and turning it into the home’s prized space. It’s become a place where couples can connect at the end of a hectic day or a lounge where owners socialise with friends, enjoy a morning coffee, and, yes, even imbibe with cocktails and wine.
Chris Lim, a real estate agent and former president of Christie’s International Real Estate, said that he is witnessing a redefining of the concept of walk-in closets.
“With the inclusion of features like bar sinks, lounge seating, spacious islands and glass displays and expanded vanity areas, walk-in closets now offer a retreat for morning rituals and post-day relaxation,” he said. “They’ve become hubs of activity and connection in multimillion-dollar homes.”
Part of the trend, he said, is the growing number of fashion and social media influencers, who often use their bedroom closets as their offices or filming space.
When it comes to showpiece closets, Brazilian design firm Ornare is a leading name and charges between $30,000 and close to $1 million for its services.
Claudio Faria, the CEO of Ornare Miami, said that when he opened his business in 2007, closets were an afterthought with homeowners investing their money in zhuzhing up public-facing spaces such as kitchens and family rooms. Now, he said, closets are dominating home design—his business has grown 50% annually for the last five years as a result.
“Closets have become more important because, in the way that wealthy people collect cars and art, they’re collecting clothes, and closets are the venues to show them off,” Faria said. They’re also a unique area to use in your home because of their intimacy and become talking points.”
Ana Paula Siebert Justus is a client and tapped Ornare to bring her vision of a glamorous closet to life. Justus, a fashion influencer, and her husband, Roberto Justus, an entrepreneur, own a five-bedroom condominium in Sunny Isles, Florida. The large wardrobe in their bedroom is awash in green hues, wood and leather. Backlighting features throughout, and there are sections for handbags and clothes plus a hat rack and a vanity with a chair.
“I spend a lot of time in my closet shooting content, so it needs to be in photograph-ready shape,” she said. “It has no door, and one of my favorite ways to connect with Roberto is to catch up as I’m getting dressed for the day or evening events. Our closet time is precious.”
Tina Trahan, a philanthropist and art collector, lives in Los Angeles’s Studio City neighbourhood in a 5,100-square-foot home that was the exterior for the home on “The Brady Bunch” TV series. She shared similar sentiments about her closet. She has repurposed one of the bedrooms into the space and has outfitted it with double-height rolling racks, a three-way mirror, a sofa, a Miele coffee machine and a fridge stocked with drinks including White Claws—her beverage of choice.
Trahan said that she frequently entertains girlfriends, and they love heading to her closet to drink tequila and wine and catch up.
“We end up ordering sushi and eating it there. My closet is 100% our favourite place to hang out,” she said.
Other examples of these double-duty flashy closets abound.
Real estate agent Katrina Barrett of Christie’s International Real Estate Walt Danley | Local Luxury is overseeing the marketing and sale of a $40 million home in Paradise Valley, Arizona. The centrepiece of its primary suite is an expansive closet with seating, a steaming area, hidden panels to store valuables and a secret door leading to a sports barn with a pickleball court and golf simulator.
In another example, Susan Archer is selling her home in Issaquah, Washington, near Seattle, for more than $6 million through Windermere Real Estate/Luxury Portfolio International. She described the property’s primary bedroom’s closet as “a haven for creating memorable moments with friends and family.”
The white-painted space has marble and cream walls and features backlighting, a display case that’s common in upscale boutiques, a washer and dryer, a wet bar, an island and seating.
“Many of my girlfriends and I have gathered around the island, their excitement palpable as they admire my collection. With champagne flutes in hand, the atmosphere is lively and carefree,” Archer said. “Beyond the soirées with friends, my closet holds a special place for precious moments with my daughter. As she grows, her interest in fashion blossoms, and my closet becomes a treasure trove of inspiration for her budding style.”
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The Federal Budget may have softened some of its proposed tax reforms, but it has exposed a bigger issue: too many families are relying on wealth structures that no longer reflect the realities of modern life.
3 min
For many Australians, the 2026 Federal Budget initially felt like a direct challenge to the way wealth is created, held and transferred between generations.
The headlines were immediate: changes to capital gains tax, reforms to discretionary trusts, restrictions on negative gearing and increased scrutiny of investment structures. Unsurprisingly, affluent families, business owners and investors began asking the same question:
Is the way we hold our wealth still fit for purpose?
In recent days, the government has announced several significant amendments following industry consultation and public feedback, including exempting testamentary trusts from the proposed 30 per cent minimum tax and expanding capital gains tax concessions for small businesses.
The backdown is welcome. But it also highlights something much bigger.
This Budget has accelerated a conversation that many Australian families have been postponing for years.
The conversation is not really about tax. It is about wealth stewardship.
For decades, Australians have built wealth through businesses, property, investments and careful long-term planning. Yet many families have not revisited the legal structures surrounding those assets in years, sometimes decades.
We often see clients who have spent years building significant wealth, only to discover their legal arrangements no longer reflect their current circumstances.
Their children are now adults. They may own multiple properties.
They may have sold a business, entered a second marriage, become grandparents or accumulated digital assets that did not exist when their original estate plans were prepared.
The trust that distributes income may need to be reconsidered. The bucket company may no longer be so attractive.
The Budget has simply exposed a reality that already existed: wealth structures cannot remain static while life continues to evolve.
Importantly, trusts themselves are not the issue.
Trusts are legitimate planning tools that provide flexibility, protection and continuity. When used appropriately, they allow families to adapt to changing circumstances over time.
And neither is tax the issue, really. Getting the fundamentals right is more important for long-term, sustainable wealth than a few favourable tax treatments around the edges.
The real issue is complacency.
Too often, families create structures and assume the job is done. It isn’t.
Estate planning is no longer a document you sign once and file away in a drawer. It is an ongoing process that should evolve alongside your life.
We are also seeing a broader shift in how Australians define wealth itself. It is no longer just the family home and an investment portfolio.
Modern wealth includes businesses, digital assets, cryptocurrency, intellectual property, frequent flyer points and increasingly complex family arrangements.
At the same time, Australians are living longer than ever before, meaning wealth may need to support multiple generations simultaneously. This creates new responsibilities and new risks.
How do you help your children enter the property market without exposing family wealth to relationship breakdowns?
How do you structure wealth so that it remains a source of opportunity rather than future conflict?
These are the questions families should be asking now.
The recent debate surrounding testamentary trusts also serves as an important reminder that policy decisions can have unintended consequences for vulnerable Australians. It is encouraging that the government has listened to feedback and clarified its position.
But the lesson remains: the wealth landscape is changing.
Increasingly, governments, regulators and tax authorities are paying closer attention to how wealth is held and transferred. That means families cannot afford to adopt a “set-and-forget” approach to their structures.
The families who will be best placed for the future are not necessarily those with the greatest wealth.
They are the families with the greatest clarity. Clarity around ownership, succession and governance. And clarity around how wealth will transition from one generation to the next.
Ultimately, preserving wealth is not about avoiding change.
It is about preparing for it.
Because the greatest risk is not change itself.
It is losing the ability to respond to it.
Anthony Hunt is Co-Founder of Wealth Lawyers and former COO of Westpac Private Bank. He advises business owners, investors and affluent Australian families on wealth protection, succession planning and intergenerational wealth transfer
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