Despite falling back a few years ago due to the economic crisis, luxury housing is presently on the rise. Americans are gradually becoming more successful again, and with that, comes a desire for more, that perfect slice of the American dream. But, despite the fact that most of us would like to live in luxury, what exactly that means can still be mysterious. What defines luxury housing, and sets it apart from regular housing? Like many distinctions, it can be a soft line dividing the two, but here are a few general guidelines.
Price Point
While the exact numbers vary, the vast majority of real estate agents generally agree that luxury real estate is in the area of a million dollars and over for a property. Like with other types of properties, that will differ depending on where you are. Luxury real estate in Austin, for instance, is going to typically cost more than luxury real estate in the middle of the White Mountains. It also shouldn’t be taken as a hard law: just because a property is expensive, doesn’t mean that it’s quality.
Location
The prime rule in real estate holds true for luxury real estate: it’s all about location, location, location. The number one factor that homebuyers looking for a luxury home is the location of the home: is it in a good, safe neighborhood, does it have beautiful views, what is the proximity to local activities? Luxury homes will be found in the best, most exclusive places.
Unique Look
Size alone does not make a mansion. A house is not a luxury house if it’s built on the same blueprint as everyone else on the street, like cookie cutter housing. Luxury homes have character, uniqueness, something that sets it apart and makes it yours, and no one else’s.
Supports a Luxury Lifestyle
Ultimately, a home is about a lot more than what it looks like. The decor and the walls all matter a great deal, but at the end of the day, it’s even more important to have a home that caters to the lifestyle you want. Luxury homes have wide showers, private gyms in the basement, hot tubs inside. If you like to play billiards, you better be able to set up a billiards room. Luxury means living the kind of life you want to live, not just looking at it.
If you’re looking to buy luxury real estate, it’s extremely important to choose the right real estate agent. Not all agents deal with all kinds of housing, and finding a true luxury expert is the best way to find the right home for you. For more information, visit Austin Proper Residences.
