via David Glenn
Nothing quite defines the American dream like homeownership, and that’s true for homes of all shapes and sizes. For those of you who want to really invest in your abode, the luxury market might be for you. Luxury homes are currently defined as homes with a multi-million dollar price tag. Though that qualification does not always need to be met if the home is possessed of certain features such as location, amenities, etc. Luxury homes are always homes that are unique and original, and they include amenities such as a Home Theater, private elevators and car lifts, cutting edge technology and more.
What is especially important in the luxury market is the ability to adjust the home to a particular homeowner’s individual needs. There’s a big difference between what’s considered luxury in Los Angeles and in Houston,
and the market responds to that. Many luxury homes are focused on security, with gated entrances, motion detectors, and secure buildings to make homeowners feel safe and secure, as well as grant peace of mind. Aside from practicalities, there are a few standard features that most luxury home buyers look for.
Firstly, location. As with any real estate purchase, location is perhaps the most important consideration. Most luxury homes abide in gated communities or closed buildings, in what are considered elite neighborhoods. Luxury apartment buildings are equipped with incredible views, a full time staff, and concierge service. Luxury homes are equipped with private locations, stunning vistas, and plenty of room to grow.
Depending on where the home is located, outside can be just as important as inside, with decks and pools playing a big part of a luxury lifestyle. Californians are more likely to be drawn to a house with a pool, while New York residents and other city dwellers are more interested in a room with a view.
Quality is also key. Luxury homeowners want quality in everything, from the floors to the walls. Many choose exotic or imported woods and tiles to finish with, and that alone can bump up a price tag. In the kitchen especially, custom cabinetry is a must, and homeowners want the install to be perfect.
Another amenity that appeals to most luxury buyers is a Home Theater. These rooms often come equipped with a large screen, custom lighting and sound, a mini-kitchen or refrigerator, and often a popcorn maker, to lend that movie atmosphere to your home.
Homeowners are also beginning to embrace an entire wet room instead of a simple shower or bathtub. Many of these rooms have multiple shower heads, as well as a place for seating and luxurious flooring. They are considered one of the most popular luxury features, for the relaxation value alone.
Open floor plans are also a must, just like in the suburban real estate market. However, luxury homes often have extremely high ceilings of twenty feet or more, along with the use of counters or cabinetry to separate the living and eating areas. The floor plans are fully customized as well.
Wine cellars are also becoming a more usable space, with room for entertaining and serving guests directly in the cellar itself. This use of smaller space is creative and whimsical, and allows hosts and their guests to be more focused on the current conversation then perhaps they would be in the rest of the home.
There’s also a focus on technology in the home, especially in the kitchen, where smart appliances are quickly gaining popularity. Many homes can be fully synced to a mobile device, like your ipad, that you can use to control everything.
So what’s most important in a luxury home? Real estate always focuses on location first, but after that, most of the requirements are left to homeowner’s individual taste. With the luxury market expanding as it is today, there are no shortages of opportunities to fully customize a home and make it yours. It’s said that “A man’s home is his palace”, and the luxury market provides the chance to make that statement very true indeed.