Make sure property descriptions are accurate. Luxury homes described as modern and those described as contemporary can vary in price by about $275,000, according to a realtor.com® analysis of luxury homes. Defining these two styles has proven tricky and often get used interchangeably.
John Stewart, residential committee chair of the American Institute of Architects, describes a modern home and décor as having simple lines. He says modern homes tend to have a “stripped-down” aesthetic, often with cube-shaped structures, flat roofs, monochromatic color palettes, low-key furnishings, and those that often incorporate exposed steel and concrete.
On the other hand, contemporary homes often combine materials and bright colors, says Sheila Schmitz, editor of Houzz, a home design website. Contemporary homes may feature a black-and-white color palette, interiors baked in natural light, and floorplans that make the indoor-outdoor connection seamless.
Source: “Modern or Contemporary: What’s the Difference in Home Styles?” The Wall Street Journal (Nov. 10, 2016)