Thursday, June 30, 2022 / by Margie Wright
So what is a luxury home? What factors work together to make a home count as luxury?
The Ideal Location
Location has such a big impact on the value of a home. It's also a super important factor to homebuyers! Luxury homes are always built in areas that are most attractive to buyers.
For each buyer, the ideal location is going to be slightly different. It can include being nestled into a natural oasis. Waterfront living with views of the water no matter where you're looking from. Easy access to get into and out of the city to make commuting a breeze. It can also include being near to good schools and other area attractions. For others, being away from the hustle and bustle of city life is the ideal dream.
Larger Floor Plans
Typically, luxury homes are larger. While it is possible to find a luxurious condo that has a hefty price tag on it, most people want their luxury home to offer an ample amount of space. How much is dependent on location and what the buyer wants. Some luxury homes focus on incredibly master suites, expansive kitchens, large game rooms, and even home theaters. If building a luxury home from the bottom up, then you have the option to add as much space to the house as you want.
Walking around a luxury home or even looking at the pictures reveals incredibly high-end materials. Granite countertops, marble floors, and premium kitchen appliances are just some of the premium materials featured. Oftentimes, the homes showcase smart technology to make living as easy as possible. Gyms, saunas, lap pools, infinity pools are all popular attributes found within luxury homes. You won't find the cookie-cutter suburban neighborhood in luxury homes. All the details are given lots of attention.
Architectural elegance is big with luxury homes. Pristine landscaping, water features, lighting, and more are focused on to exude that elegance and attention to detail. Oftentimes the landscape features are planned out to help provide privacy when spending time outdoors. In the backyards of these homes are often outdoor kitchens, plenty of space for entertaining, and it is common for it to flow effortlessly into the interior of the home.
Pricing and Value
It's no surprise that luxury properties are more expensive. With all of the things mentioned thus far, the price tag is going to be going up. Those price tags include factors such as: more square footage, high-end amenities and features, premium materials, sculpted lots, prime locations, and beautiful surroundings and views. Normally, the starting price is $500,000 and goes up into the millions. However, that price can vary depending on the location.
It does no good to have a beautiful home that isn't built well. Construction materials and design should be premium, and it should be built by someone that has plenty of experience in luxury homes. Since most luxury homes are custom built, you'll be able to work closely with the designer and builder to get exactly what you want. Knowing your home is built by a reputable luxury builder will only enhance the value.
The bathroom is one of the most important places to look at when buying a home. You'd be surprised how much people care about the bathroom being a space that they can relax in. Having an at-home spa area is key, especially in luxury homes. Some include walk-in steam showers with gorgeous inlaid tile. Multiple shower heads and large designer tubs are big as well. Everything is positioned just right to provide a relaxing view. Other features include bidets, self-warming floors, and towel warmers.