What Makes a Home Luxurious in Today’s Real Estate Market?

You can’t define a luxury home based on price alone. The median price of a luxury home hovers somewhere between $1 million and $1.4 million.

If you’re trying to determine what makes a home luxurious, you’ll have to look at the city it’s situated in. This affects the cost of living, the types of local attractions, and even the history that makes a luxury home charming.

Although no two luxury homes are exactly alike, there are key qualities that they have in common.

Read on to find out more!

Price

Yes, price matters, although it all depends on the regional cost of living. 2,000 square feet in a major city like New York or Los Angeles will probably cost more than 2,000 square feet in a smaller city like Pittsburgh.

Luxury properties in rural areas may not come with a lower price tag than luxury properties in the city. With more space to spread out, rurally located luxury properties are often large and surrounded by the owner’s vast private property.

Location

Generally speaking, luxury homes are bound to be on the pricey side. This is because they are located in the most desirable areas in the city or town they’re located in!

Luxury homes should allow residents to walk to some of the most exciting local attractions without compromising their privacy. They may be perched atop a mountain or high above five-star restaurants, renowned museums, and historic theaters. No matter what, the location is enviable!

Quality

The construction of a luxury home must be of the highest quality. That includes marble, oak, crystal–materials that look expensive because they are expensive. A luxury home should be built with beauty and durability in mind.

In addition to the building itself, there are a number of luxury home design trends that should be met. The right interior design will make even an average priced home look luxurious. The wrong interior design can make an expensive property look cheap!

Oftentimes, the interior design should include over-the-top amenities based on the owner’s interests. If they love film, they’ll likely want a private movie theater in their home. If they play instruments, they may want a professional quality studio to access at their whim.

Provenance

Provenance refers to the story or history behind a home. Some buyers are more interested in a luxury home with an impressive story than an enormous home that has a limited or boring history. Classic examples of this are barndominiums. Check out Barndominium Life to learn more about these awesome upcycled homes.

This history often includes previous owners who were culturally or historically significant. However, new homes can also have an interesting provenance as long as they were built by a prominent architect! In some instances, the provenance may cover the previous uses of the building, assuming it wasn’t originally built with residents in mind.

What Makes a Home Luxurious?

To some extent, what makes a home luxurious are tangible qualities like price and quality. However, it often comes down to the individual owner or renter’s tastes! Beauty, in this case, is in the eye of the beholder.

For more information on all things luxury, from watches to cars to vacations, bookmark our page and check in with us often!

Did you like this? Rate it
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...