What Constitutes a Luxury Home?

When you think of the concept of a “luxury home” do you envision a huge mansion sprawling out over acres of uncharted land? Although it’s always a factor, the actual size of the home doesn’t necessarily make it luxurious. Currently, there are plenty of homes on the market that can be considered luxurious, but these homes aren’t the huge mansions that most people dream about.

When it comes down to it, the idea of a sprawling mansion always comes into mind, but there’s really more to a luxury home than its size.

It’s true that most of the homes that are considered luxurious are larger than the average townhome or condo, but the deciding elements that make a home fall into the prestigious category are much more than meets the eye.

Luxurious resort towns such as Park City, for example, contain a lot of the elements that fall into the category of luxury, mainly because these homes offer a lot of details and intricacies that make them very unique when compared to other homes in the same area.

Although location is always an important factor—as the scenic mountain views of Park City and Deer Valley offer a lot of aesthetic appeal to buyers—some equally important factors such as, large balconies, master bedroom suites, open floor plans, unique layouts, and tasteful decorations throughout the home are also weighing factors.

While it’s true that luxury homes are usually bigger than the average townhome, and are located in desirable areas, the elements that comprise a home a luxury home include several possibilities that most people don’t even think about.

deer_crest_gymTo help illustrate the point, here are several different factors that homebuyers desire when searching for a luxury home:

• Not only are luxury homes found in desirable locations, but they also offer great views, high security, and nearby recreation/entertainment.

• They include rooms outside the ordinary sleeping areas, such as entertainment rooms, media rooms, and workout areas (or gyms).

• Luxury homes feature high-end materials, such as unique granites, imported tiles, and marbles for a more aesthetic appeal.

• When homebuyers were asked about priorities for their luxury home, 39% of them said it was the overall floor plan, 32% of them said they wanted a fully-automated/wire home environment, and 28% of them desired a pool, gym, and home theater.

• On a final note of interest, a recent real estate study said that 65% of luxury homes had designer kitchens, 85% of them had an entertainment room (that seated over six people), 57% of them had a wet bar, and 37% of the luxury homes had a wine cellar.

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