The exact definition of luxury differs from person to person based on taste. But if you are buying a luxury property — a significant asset — it’s a good idea to make sure it’s a good investment by keeping up to date with current standards. Here are some things to look for when you’re browsing real estate listings or looking at homes with your real estate agent:
- A Gourmet Kitchen
In the current market, even mid-level houses are expected to have gorgeous kitchens with sparkling granite and industrial fixtures. Pay particular attention in older houses as to how the kitchen has been renovated and integrated into the main living space, since 75 or even 50 years ago, kitchens in large houses were separated from the main house and staffed by servants.
- Proportionate Numbers of Beds and Baths
One of the features of modern luxury homes is that there are nearly as many bathrooms as bedrooms in newer houses. This is an important feature that adds value. In older homes, it was very common to have five or even six bedrooms per bathroom — and no attached bathrooms — so historic homes may cost a little more to account for the renovation costs previous owners may have invested. However, historic homes have many other charms that could make the additional money worth spending.
- Outdoor Space
Outdoor entertaining space is a must in big luxury homes. Part of the investment of buying a large house is knowing that it can handle large events, and outdoor venues are now popular for everything from garden parties to black-tie weddings.
- Natural Materials
Throughout all these spaces, it’s important that natural materials are used. People who buy luxury homes should not have to settle for laminate, tile and other imitations; think rich hardwoods and natural stone, instead.
- Grandeur and Warmth
This final aspect is more qualitative than quantitative. While luxury homes are expected to feel a little more grand than an average family home, the current iteration of luxury isn’t sterile, cold or overly formal. Most people who are looking at high-end properties, whether they have children or not, want a slightly cozier feel than would have been popular in the ’90s.
What else do you think should define modern luxury homes? Share your ideas in the comments.