What Actually Makes a Luxury Property “Luxury”?

If you are looking to buy a luxury home in beautiful Salt Lake City, there are several upmarket districts and areas that offer many in the great locations. As a specific specialty of CityHome Collective, a local Salt Lake City real estate brokerage, luxury homes are a hot commodity and tend to resist the winds of property market fluctuations a little better than most other types of properties. And if you are looking to sell a luxury home, one of the biggest helps is having it designated as such. But what actually makes a luxury home?

Within the real estate agency, there are a range of recognized factors that push a property towards that “luxury” categorization. Only having one or two or these factors – for example, a waterfront view and a prestigious ZIP code – may not be entirely sufficient to have a home categorized as luxury. It is therefore a combination of these factors that is important. A real estate agent of any repute will have a good knowledge of all these factors and how they combine to create a truly luxury property and can make the designation ahead of listings being posted.

The Changing Face of Luxury

Naturally, a one-bedroom roadside property within the city would not be considered luxury. And similarly, a sprawling mansion in an exclusive suburb would certainly be considered so. But between these extremes there are many other properties that might just make it into the luxury class. Well outfitted apartments in an exclusive area of town would certainly be considered so, and so too would suburban properties in range of many high-end amenities.

It is all about what the property cumulatively offers. And while that luxury designation may ultimately be the decision of the realtor who posts the listings and sells the home, there are some aspects of a home that will always see it advertised as luxury. Spot enough of these in your property or the property you have your eye on, and you could be looking at something certifiably high-end. So, what does make a home high-end?

Location

One of the most traditional indicators of affluence, a home in a reputable or prestigious location will automatically have a higher value than an identical property elsewhere. With increased housing development, however, luxury homes are now beginning to pop up in areas not previously associated with high-end properties. Nevertheless, being situated in a swanky part of town remains one of the clearest indicators that a property is luxury.

Design Awards

Although we have mentioned that luxury is the cumulative effect of a set of high-end features, there are some that contribute to that overall designation more strongly than others. If a home has won any design awards or is known to have been designed by a prestigious architect or architectural firm, then it is almost certain to be designated as a luxury home.

The Kitchen

The interior design of a property, more generally, is incredibly important in what makes a luxury home luxury. But of this interior design, it is the kitchen that is in fact the most important. This seems to be because the kitchen is one room where a great deal of sophisticated technology can be installed and found a use of. Kitchens therefore become high-tech ensemble pieces, and they can make or break a home’s luxury status.

Whether buying or selling, a quality realtor will be able to tell you if a property is considered “luxury”. Nevertheless, it pays to have an eye for all the indications that you are dealing with a truly special and exclusive property.

Related Posts

Beal Properties Fills Chicago’s Rental Needs

The housing market of Chicago has been changing with the landscape of the city and

What Documentation Is Required When Selling an Extended Property?

The buying and selling process can be extremely stressful, but often sellers will be at

Tips for Finding Apartments in Cambridge

If you live in Cambridge, you know how difficult it can be to find luxury

Leave a Reply

Your email address will not be published. Required fields are marked *

− two = one