You've likely come across a real estate listing claiming that the home was a "luxury home". However, did you look closer? What is a luxury home anyways? Is a home considered "luxury" because of its price? Location? Square footage?
To begin, NO, a luxury home is not defined by its price tag. The term is more subjective and isn't actually based on any of these factors alone. In fact, a "luxury home", like most things, is all in the eye of the beholder. If your neighbor wishes they had your home, they may see it as a "luxury home"!
However, there are certain features that most "luxury homes" have in common. Whether you're looking to build a luxury home or just wondering if your home can be described as such, read on for some of the general qualities you can expect to find in a "luxury home".
Common Qualities of Luxury Homes
1. A High Price for the Area
"Luxury" price depends on where you live! In general, the very lowest price you can expect to pay for a luxury home starts at anywhere from $500,000 to $5 million and only goes up from there. WAY UP!
2. Prime Location
Often, the homes that are considered "luxury homes" are located in the most coveted of locations. Usually, these locations have a scenic view overlooking a body of water, forested areas, or simply the lights of the city below from a higher altitude. However, new prime locations pop up every year! Say there's an area in your town where a strip of new and trendy restaurants and clubs open up. This sort of development will raise the value and attract high-end buyers to the area.
3. Premiere Quality
The materials used for construction, finishes, appliances, and overall design are usually beyond standard when it comes to luxury homes. Whether your dream home has marble, Venetian plaster, high-end hardwood floors, crystal fixtures, and top-of-the-line appliances can also be deciding factors that can land your home the title of "luxury home".
4. Luxurious Amenities
Many homes that are considered "luxury homes" have amenities that you wouldn't necessarily find in the average home. We put a few fun examples below!
- HUGE Walk-In Closets - It started with basic walk-in closets, then the luxury elite took it to the next level. If you have a 3,000 square foot walk-in closet, it's probably a luxury home!
- Specialty Bars - These also began as a simple bar with taps, a sink, and a minifridge. However, luxury homes have taken them to the next level - offering HUGE bars built around thematic elements and architectural styles.
- Gallery Garages - You've seen plenty of them on MTV's "Cribs" and the like. If your garage can hold more than 8 cars, you may be living in a luxury home!
- Indoor Pools/Spas - That's right! Indoor pools are not uncommon in luxury homes. Some even have an entire spa built into them!
- IMAX Theaters - Beyond simple plush chairs and a projector screen, luxury homes have taken it up a notch and are placing entire IMAX theaters in their homes!
- High-tech Bathrooms - You read it correctly! There are now features out there that make the glass door of your shower turn opaque when someone enters, have radiant heat built into the floor, towel warmers, and even bathroom mirrors that can turn into a big-screen TV with a push of a button! Sound like a luxury to you?
High-end, luxury homeowners tend to enjoy their privacy (especially if they are a celebrity)! Privacy is definitely a premium when it comes to "luxury homes". Usually, this is achieved through large yards, high walls, foliage for cover, and gated entrances with on-staff security or high-end security systems.
It might surprise you, but the backstory of a home can even help to make it a "luxury home". Whether it was designed or built by a prominent architect or simply located in a noteworthy/historical area, the value of the home increases and may even help to give it a "luxury" status.
Overall, the definition of "luxury home" is open to debate! The quality of the build, the location of the property, etc. are all common factors, but "luxury" is really what you make it! Ready to build your dream luxury home? Contact Hagen Homes today! We'll be with you every step of the way and help to ensure that your home exceeds your expectations, whether you're wanting to build your dream luxury home or simply want the architecture to suit your needs!