When we think of luxury homes most of us envision an in-ground swimming pool, a big luxurious kitchen, saunas and a home gym.
Those amenities are found in luxury living, certainly, but how exactly do the experts define “luxury?”
It’s not necessarily what you might think, and it’s definitely not just the high price tag, according to realtor.com, because a million-dollars that buys a luxury home in the Midwest may only get you a bungalow in California.
Rule of thumb, however, is that in most cases luxury homes begin at around $500,000 and go up from there. And although there is no hard and fast definition of a luxury home, they do have certain common amenities that you won’t find in your run-of-the-mill dwelling.
If the home carries a high price tag compared to others in the area, it can be considered luxury. Additionally, luxury homes are always located in areas that are the most sought-after, like the beach, in a high-rise smack in the middle of an affluent city with high-end shopping, the mountains, or a gorgeous valley surrounded by other luxury homes.
Luxury living also typically involves higher end materials, appliances and design such as marble, hardwood, plaster or crystal, says realtor.com How about an in-house theater, pub, wine cellar or live-in closet? Some are wired throughout with high-tech amenities and others are “green” with all eco-friendly amenities.
Privacy is also sought after by many who live in luxury, who equip their homes with walls, thick foliage, gated entrances and expensive security. And, adds realtor.com, luxury homes often have a history, which makes them more valuable.
But in the end, says realtor.com, luxury is in the eye and mind of the beholder.
Re/Max Real Estate Concepts
120 N 2nd Avenue West
Newton, IA 50208