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What Is Considered A Luxury Home?

A luxury, or high-end, home is typically valued within the top 10% of properties on the local real estate market. High-end homes tend to be considerable in size, located in optimal areas, constructed and finished with high-end materials and designed with uncommon architectural details and exceptional amenities.
While the features of these homes are highly coveted, they tend to be more atypical within the market, enhancing their extravagant feel.

Common Luxury Home Features!

Luxury homes are high-end constructions. To be considered high-end, these homes typically have seven distinct qualities revolving around their location, price, size, materials, design, amenities and prestigious history.
Let's take a deeper look at each of these qualities and see how they're realized in different high-end houses.
1. Prime Location
Location is one of the largest determinants of property value, and high-end luxury homes are built in the most enviable of all locations. Whether you're buying a lake house, a home settled in the mountains or at the center of a bustling city, these homes are found in prime locations across the country.
2. Higher Price
There are certain counties, cities and even neighborhoods that are more coveted, and thus more expensive, than others. While high-end luxury homes are often found in these more desirable areas, they tend to be priced even higher than the majority of properties within the same area.
Depending on the property values within the local area, buyers looking to snag a luxury property can pay anywhere from a few million dollars to over $100 million.
3. Greater Square Footage
When it comes to high-end homes, size matters a great deal. The greater the square footage, the more luxurious these homes are considered.
In some cases, greater square footage translates into a larger number of rooms - be them additional bedrooms, staff quarters or areas dedicated to specialized amenities. In other cases, this additional space makes for larger, open areas and colossal master suites.
4. Premium Materials
For high-end homes, quality is just as important as quantity. If the entire property is not constructed and finished with premium materials, it doesn't matter how many rooms it has.
Luxury homes use only the finest materials – think wooden herringbone floors, Italian marble countertops, decorative granite mantlepieces and top-of-the-line stainless steel appliances.
5. Unique Designs
Homes that appear distinctive are held in higher esteem than the cookie-cutter houses of many suburban developments. Therefore, high-end homes come in all shapes and styles, for grandeur means something different to each person.
Often, it's the unique designs of the home – based on the singular priorities of the homeowner for whom it was built – which furnish the property with the luxury label.
6. Decadent Amenities
High-end houses can blur the lines between private and public life, offering residents a slew of decadent amenities that most Americans would be hard-pressed to find in their towns. The features of these high-end homes provide comforts and pleasure that range from classic conveniences – like swimming pools and tennis courts – to more outrageous attractions – like indoor rock-climbing walls and shooting ranges. If you can dream it, it's likely that there's a luxury home out there that already has it.
7. Prestige
The prestigiousness of a home's history can also cause it to be considered a luxury property. Whether designed in a historical style, built by a well-respected starchitect or formerly lived in by a celebrity, homes that have prominent stories to tell tend to be viewed as more high-end. However, it's challenging to put a price on prestige. Just because a home is renowned doesn't mean there are necessarily buyers who will be willing to pay more for it.

The Bottom Line!

While high-end luxury homes are located in attractive areas, designed with the highest quality materials and include enticing amenities, they're ultimately only worth what buyers are willing to pay for them. High-end properties tend to linger on the market longer than more average-priced homes because their prestige and lavish features are incomparable and thus make valuation challenging.  For this reason, our team has put special effort into making our digital marketing strategy first and foremost to reach the most ultra-wealthy around the globe in a matter hours after the listing goes active.

It is also important to note that price isn't everything, even well priced luxury homes sit for a bit waiting for that perfect buyer to snatch it up.
The Cheryl Spangler Team | 2002 - 2020 | Equal Housing Opportunity
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Office: 703-665-3362 | hello@cherylspanglerteam.com