Luxury homes have certain characteristics in common. So whether you're looking to buy an upscale place or wondering if you can describe your current residence in such opulent terms, here are some of the general qualities you can find in a luxury home
1. High prices in the area
Of course, the price of luxury depends on where you live.
A million dollar home in Studio City, California may not qualify, but a similarly priced home in Hemet, just two hours away, would be one of the most expensive and luxurious properties in town.
2. Prime Location
Regardless of the city, state or country, luxury homes are the ones with the most coveted locations, whether they are on top of a hill, right on the beach or overlooking the glittering lights of the city in the distance. But these areas are constantly expanding and growing.
A new strip of trendy bars and restaurants can turn an otherwise ordinary area into a hotspot that attracts high-end buyers.
3. Superior Quality
Building materials, finishes, appliances and design must all be a cut above the perceived standard.
Marble, hardwood, Venetian plaster, crystal and Miele appliances have all become common components of luxury homes.
4. Luxury Amenities
"From Imax movie theaters to video game rooms to purifying showers, these homes contain the most exquisite amenities," says Stevenson.
Many high-end buyers, especially celebrities who are accosted by paparazzi and fans in public, want their homes to be a true sanctuary.
Privacy is therefore important, and can be covered by large yards, high walls and foliage, and gated entrances to prevent prying eyes or noise from watchers that could disturb the peace.
This will surprise you. Luxury home buyers aren't necessarily looking for gorgeous mansions, but they do consider their homes to have some sort of story, or history, if you will, as an ultimate asset.
Whether the house was built by a famous architect or is located in a noteworthy location, if it's not your average tractor-trailer house, the value goes up.
Ultimately, however, the definition of a luxury home is in the eyes of the holder.
Luxury can mean many things, so instead of automatically obsessing over a particular listing that boasts this term, focus on the features of the home you are passionate about and find a home you will love.