Looking to buy a luxury home? Because what constitutes luxury in a home is very personal, the definition of a luxury home can be difficult to pin down.
Luxury residential real estate generally attracts top dollar for a particular location, but simply paying a high price for a home doesn't mean you can describe your purchase as a posh property. There are some features that are common with luxury homes, generally speaking.
Highlighted below are some of the salient features that make a luxury home.
Prime Location
In the real estate world, the definition of prime residential property varies from area to area. In a coastal town, for example, prime residential real estate would be located in the first row of sea-facing homes. This would provide homeowners with stunning views of the sea. In mountainous towns, prime could mean living at high altitudes while enjoying picturesque views of the lower-lying areas.
In short, luxury homes are homes found in the most desirable locations in specific areas. It is the high demand for residential real estate in such areas that drive up the cost of a home purchase.
Exclusivity
A luxury home should also give its owner a sense of exclusivity. Prospective homeowners tend to have a deeper connection and attach a greater value to homes that stand out from the rest. For instance, many people would jump at the chance of buying a home owned by a famous Hollywood star because the current owner's celebrity status is unique to the property.
Lavish Amenities
As the name suggests, a luxury home should offer the luxuries that money can buy. These include but are not limited to the following:
- Home automation — so you can control everything from your smart device.
- Spa-quality bathrooms equipped with decontamination showers.
- A large outdoor pool.
- Gaming and movie rooms.
- A fully-equipped home gym.
- A home bar.
- A massive wine cellar.
- Mega walk-in closets with dressing rooms.
The combination of lavish amenities available in luxury homes varies from home to home. The ideal luxury home for you should offer those amenities you care about most.
Because luxury is a relative thing, its definition varies from person to person. That said, finding the luxury home of your dreams can be a bit more difficult than finding a regular home. Consider discussing your needs and budget with an experienced realtor to take the hassle out of the luxury home purchase process, or for more information about luxury residential home listings.
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