What Makes a Luxury Home Luxurious?
In browsing a list of the most expensive homes or searching Online for luxury real estate, you will no doubt find yourself gasping at photos of lavish architecture surrounded by picturesque estates, or modern penthouses atop skyscrapers. But what exactly makes these homes worthy of the name “luxury”? Is it just the price tag? Let’s look at our criteria for giving a home this description:
A million-dollar home might be the most expensive property on the market in one place, but get you no more than a condo in another. What is expensive in Alberta could be relatively cheap in Unionville or Vancouver. High relative value to the area is the first indicator of a luxury home.
Location. Location. Location.
Is it located on pristine coastline, hidden away in a secret valley, or situated in a development for the elite? Regardless of where you buy a luxury home, the location has to live up to the name. Whether on the ocean or the 45th floor of a New York City skyscraper, the location makes the luxury.
The prime factor on the list is amenities. Waterfalls, private multi-story garages, tennis courts, pools, spas, and more make up the amenities populating luxury estates. A nice home will have a big screen TV, but a luxurious home will have a private IMAX theatre!
While the idea of having friends in the neighbourhood is common to almost all people, there is a certain degree of exclusivity needed when dealing in the luxury market. Privacy and security are paramount, and we aren’t just talking about a private entrance. If you notice most trends on the modern market, you’ll see that luxurious developments are starting to market the privacy and culture of the areas in which they are located.