The Meaning of Luxury in Today’s Real Estate Market
Have you ever stepped into the luxury real estate market? Buyers have a long list of requirements, and curb appeal is only just one item on the list. Innovative features, stylish designs and so many other elements are considered vital to be in a luxury home. So what elements fulfill the definition of the word luxury?
A luxury home is not only about an impressive look and an even more impressive finishing; there is more to it. These homes must also offer comfort to their owners. Master closets, dressing areas, abundant shelving, kitchen islands, numerous electrical outlets, plenty of storage, and subtle LEDs are now regarded as mandatory by so many luxury buyers.
In fact, the homeowners want their house to narrate a story to any individual who walks in. Buyers grade a home on six things: explosiveness, privacy, iconography, exclusivity and proximity. They do want walls featuring the best art, but they also want an oversized wardrobe, comfy chairs and other comfortable elements.
The luxurious homes of today no longer sprawl acres of land. Instead, they have gone smaller than in the past, but this only true for some areas. The houses still have enough room and the only difference is that they now comprise of stories rather than being spread out on acreage. So while the coverage area is shrinking, the height is still increasing as more and more floors are added to meet all the demands of today’s luxury buyers.
More space is being added into homes by combining the living room, dining room and family room into a large open space area, allowing for a more casual sort of entertainment.
The definition of the word luxury has a different meaning in different areas. So for instance, if something is considered high end in Huston, the same cannot be said for other areas. As an example, Houston buyers love a media room and an elevator, but buyers in Los Angeles do not really care about both these features. Similarly, power generators are a wanted feature in areas that are prone to quakes and hurricanes.