What is a luxury home and what makes them so special?
If you have ever gone through listings for real estate and found one for a “luxury home,” you may have thought, “My gosh, this one has to be exceptional!” However, what is the definition of a luxury home. Are they established by cost, how big it is, its location, or a mixture of the three?
To start, “luxury” isn’t literally about how much money you spend on the home. It’s a lot more personal, and a mobile target based on what a particular area’s big-ticket buyers are accustomed to.
Whereas it’s difficult to pin down a precise definition that summarizes this air of wealth, luxury homes do have an inclination to have particular features in common. Whether you’re looking to purchase a chic place or contemplating if you can describe your present digs in such wealthy terms, below are some common qualities you can expect to see:
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A high cost for the area
Obviously, a “luxury” cost is subject to where you live. A million-dollar home in Studio City, California, might not qualify, but a likewise costing home in Hemet, California, just two hours away, would be one of the costly and most luxurious properties in the city.
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Prime location
Regardless of the city, state, or country, these homes are the homes with the most desired locations, whether they’re on top of a mountain, a beach front home, or overlooking the twinkling lights of the city below. However, these locations are continually expanding and advancing. A new strip of swanky bars and entertainment venues can turn an otherwise run of the mill area into a hot spot attracting big-ticket buyers.
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Premier quality
The construction materials, paints, appliances, hardware, and design all need to be a degree above what’s considered conventional. Marble countertops, hardwoods, Venetian plaster, crystal, and stainless-steel appliances have all become common elements of luxury homes.
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Luxe amenities
From Imax theaters to game rooms to state of the art fitness rooms, these homes integrate the most magnificent amenities.
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Privacy
A lot of big-ticket buyers—especially celebrities that get confronted by paparazzi and fans when they’re out in public—want their home to be a true sanctuary. In essence, privacy is first-rate, and could be afforded with big yards, high walls, and vegetation for cover, and gated entry ways with security guards to keep people from peaking in or making a commotion disturbing the peace.
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Provenance
This might surprise you. These home buyers are not imperatively looking for extravagant mansions, however they do think of it the ultimate asset for their home to have some kind of story, or history so to say. Should the home be built and designed by a well-known architect or sited in a prominent location, the value increases when it’s not just another tract home.
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