Wednesday, March 29, 2023

Six Factors of a Luxury Home

Are you looking for your dream home? Many Americans who are in a position to enjoy a home that is a cut above the norm look for one in the luxury housing market. But what defines a luxury home? And how should these factors be personalized for you? Discover what you need to know about six of the most important defining features.

1. Price

Any home buyer who wants a premium home understands that they will pay more for it. As with size, though, price is relative to the location and amenities. You can expect to pay more for property that is located on the water or located in a resort community.

Photo: Berkshire Hathaway HomeServices Towne Realty

However, buyers should tread carefully judging luxury based on price. The housing market changes all the time. Pricing should be secondary to considering the more permanent elements of luxury.

2. Location

The old adage is true that real estate is all about location, location, location. In the end, you can change many things about a piece of property except where it sits. And that location is the only truly one-of-a-kind feature of any home.

Finding the right location is personal for each buyer. This may mean a gated community, close access to entertainment and shopping, the right schools, or a historically significant home. What the location should have is something that makes it unique and desirable to homeowners.

3. Quality

Many of the elements of luxury are based on personal taste and are clearly evident. The details matter in luxury homes. Finishes, trim, fixtures, appliances, design, and construction materials should all be above standard.

Photo: BHHS Towne Realty

4. Amenities

Photo: BHHS Towne Realty

What does the home offer that is out of the ordinary? This could be features like a boat lift and pier, a pool, a spa, or a home gym. This could be interior surprises like heated floors, home automation, or a home theater. Community amenities like security, golf courses and private beaches can also factor into the luxury experience.

5. Privacy

Your home should be your castle, and a luxury home even more so. Part of the luxury you likely want is privacy. That privacy can be from lot size, location, landscape, layout, and physical security of the property or its neighborhood.

6. Provenance

The value of a home may go up based on whether the home has a story or history. This may include homes built by renowned architects and designers or homes situated in a noteworthy location. Provenance may also include homes that have been lived in by historical families of importance or celebrities.

Finding the right mix of these six elements and others is key to finding the right luxury home. But this is a complex task, and the best path to success is working with local luxury real estate professionals. BHHS Towne Realty specializes in the Virginia luxury housing market. We can help any buyer weigh their options and decide what is most important to them. Call today to make an appointment.

Do you have questions for Berkshire Hathaway HomeServices Towne Realty? Let us know via our Contact An Expert form or on Facebook or Instagram.

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