When does a house qualify as a "luxury home"? Some may think that it is a matter of the size and cost of the home. While “luxury homes” are usually valued well above $1,000,000 and fall within the top 10% of any area, most luxury real estate specialists will say that it is more about location, amenities and the quality of detail that puts a home into the “luxury” category.
Location plays a big role in defining a high-end property. Stunning views and/or waterfront access, proximity to amenities such as golf courses, boating docks, exclusive shopping and entertainment districts, good schools and medical facilities all add value to a home.
Luxury homes come in a wide range of shapes and sizes – from sprawling estates to high-end condos. But it is the custom built features that make a home truly exclusive. Imported tiles, rare hardwoods, hand-cut stonework, architectural lighting, high-end fixtures and custom embellishments – every detail helps to create a one of a kind experience.
Luxury is very much about lifestyle. Many high-end homes have spaces that support an upscale lifestyle, like wine cellars, home theaters, spas and outdoor living spaces with designer swimming pools and sport courts.
While there is no official regulation outlining what defines a “luxury home”, location, custom design and lifestyle are all essential factors.