Luxury buyers often want a lot of the same things as everyone else, but on a grander scale. This might include an astonishing view or a location that’s far from the madding crowd.
But what distinguishes a luxury house from other high-end properties? From Imax movie theaters to decontamination showers, a number of features set these homes apart.
Expansive Spaces
A luxury home typically offers much more space than a regular house. This is true for both the indoors and outdoors. Luxury homes offer spacious master suites, upscale amenities in the kitchen and even dedicated games rooms ideally designed for entertaining friends and family.
Moreover, many luxury houses are located in sought-after locations on the mountaintops, beachfront or dazzling city overlooks. These coveted spots are not only a draw for potential buyers but also play a role in the property’s overall value.
In addition, luxury homes often feature high-end materials such as herringbone tile patterns and antique reclaimed wood flooring as well as smart technology to make daily living as convenient as possible. They also showcase unique features like space saving lap pools, portable saunas and dedicated exercise spaces. All of these attributes and more contribute to the luxury label and help justify the higher price tag.
Unexpected Spaces
In many luxury homes, a simple walk around reveals high-end materials that set them apart from the rest. Vast open floor-plans and custom closets are common, but these houses may also feature unexpected elements such as smart refrigerators with sections large enough for catering trays or re-emerging butler’s pantries.
Other surprises may include two-story libraries with moving ladders and secret reading rooms designed to protect rare tomes from damaging light and weather. With the recent focus on health, some luxury homes offer options to let more natural light into a room by expanding sliding doors or using special glass that blocks out UV rays.
While a luxury house may come with some surprises, it is important to know the basics before buying one. For example, you will likely need a jumbo loan, which requires great credit scores and debt-to-income ratios below 43%. You will also need to save a significant amount of money before making your purchase.
Distinctive Features
While price, size and location are good indicators of luxury houses, there are other features that help distinguish a high-end property. Whether it’s a home theater, pool, or gaming room, many luxury homes offer a number of unique amenities that aren’t available in most properties.
While standards of what defines a luxury home can change over time, many of the best-crafted luxury houses have distinctive design features that set them apart. Examples include a kitchen with luxurious materials, curved walls and moldings, artisanal lighting fixtures, and herringbone tile patterns.
Luxury houses often showcase the latest trends, such as space-saving lap pools and saunas in place of traditional bathrooms, in-home lifts for those who don’t want to deal with stairs, or dedicated exercise rooms. They may also feature smart technology to make daily tasks easier, or a superior environmental system that attends to heating, cooling, ventilation and air quality. This can make a difference in how comfortable and healthy you feel at home.
Increased Privacy
Many high-end buyers—particularly celebrities who often get accosted by paparazzi and fans—want their home to feel like a sanctuary. Luxury homes usually feature extensive landscaping, tall fences and walls, and plenty of foliage to keep snoopers from peering in. Many also have gated entrances and security guards to prevent people from walking on the property without permission.
Some luxury homeowners purchase their homes in cash, but others require a jumbo loan to afford such a pricey investment. These loans often require excellent credit, a significant down payment, and proof of assets and income. Regardless of how you buy, however, it’s important to understand what costs come with owning and managing a luxury property so that you can plan accordingly. This includes insurance coverage that protects against acts of nature such as hurricanes, tornadoes, and earthquakes, as well as property taxes. These costs can add up quickly and impact the overall value of your home, so it’s important to take them into account before committing to such an expensive investment.