Residential Development: Things to Expect From A Luxury Home
24 February 2022If you’ve ever watched real estate shows, you’ll see episodes that talk about a luxury home. So you wonder what is it that makes a luxury home so unique? It is not always defined by the price alone but determined by the location, size, and amenities. Determining the meaning of a luxury home is subjective and sometimes based on what high-end buyers expect. In many cases, luxury is simply in the neighbour highly jealous neighbour.
There are specific characteristics that luxury homes tend to share, even though it is hard to pinpoint an exact definition of this air of affluence. So here are some general features of luxury homes.
High Neighbourhood Prices
Luxury prices vary depending on where you live, so the neighbourhood, the community, and the city will influence the price. Another determiner of a luxury home is the price itself. You can generally expect to pay between $500,000 and $3 million for a luxury home. Pricey.
Prime Location
No matter where they are, luxury homes have the best and often secluded locations. These areas could be atop a mountain, beachfront, or overlooking the city, and these areas are continually developing. A new stretch of trendy bars and restaurants, for instance, can transform an otherwise average neighbourhood into a hot spot that attracts high-end urban buyers.
Quality Materials
A home’s construction materials, finishes, appliances, and design must all be superior to the norm. A luxury home may have marble, unique wood finishes, and other luxurious features.
Luxurious Amenities
Luxurious homes are equipped with state-of-the-art technology and luxurious home amenities. Imax movie theatres, arcade rooms, and even decontamination showers are in these homes. These features make the home stand out from other traditional homes.
Privacy
High-end buyers like their homes to be a sanctuary. Hence, privacy is a top priority, and home builders meet this need with large yards, high walls, and foliage for cover and gated entrances with security guards. The purpose of all of these features is to add privacy and deter people from looking in, causing problems or disrupting the family that lives in the home.
History
You will be surprised by this. In addition to flashy mansions, luxury buyers look for homes with a story or history to them. They prefer houses designed by renowned architects. When buyers choose a place in a notable location with some sort of history, the home value increases and becomes more desirable. Here, home buyers are looking for something other than a traditional track home.
In the end, however, what constitutes a “luxury home” depends on the person.
Luxury lies in the quality of the build, the location, and the size of a property, but it is also very personal. Luxury can mean living on the beach with stunning views, or it can represent a home with privacy and sweeping views of the city. Some people even define luxury as having a smart home equipped with all high-tech gadgets, and others would interpret ‘luxury’ as being an architecturally significant Mid-Century Modern house.
The Bottom Line
Instead of automatically falling in love with a listing that says “Luxury home,” instead focus on the features you’re seeking in a home so you can find one that you need and what’s best for your family.
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