These days, the word “luxury” is
everywhere. The promise of high-end goods, services, and experiences is no
longer reserved for the most affluent of Americans, but now available to just
about everyone. We can easily buy luxury brands at the clothing store, drive
luxury automobiles like Mercedes Benz and BMW – or similar facsimiles at
fractional prices - and even buy a home that is described as ‘luxury.’
In fact, the L word designation is
everywhere in advertising, as a recent survey approximated that the word
‘luxury’ comes up in 34% of real estate listing descriptions, up to 42% of
appliance and furnishing ads, and 26% of clothing marketing. Googling a query
like “How to write real estate descriptions that sell” will yield list after
list including the words “luxury”, “distinguished,” “quality”, “exclusive”,
etc.
So if we cast aside the watered-down
marketing version of ‘luxury,’ what does it really mean? What should it represent?
The Oxford Dictionary defines
‘luxury’ as:
A state of great comfort or
elegance, especially when involving great expense;
An inessential, desirable item which
is expensive or difficult to obtain;
[In Singular] A pleasure obtained
only rarely
When it comes to high-end and
top-of-the-market homes, what makes a home ‘luxury?” Is it merely having an abnormally steep price
tag? Cavernous square footage? Fancy amenities that you don’t find in typical
homes? All of those things may factor into luxury homes, but the certainly
don’t define them – not in an age when high-end materials like vanity sinks and
chandeliers are mass produced and offered at rock-bottom discounts at places
like Home Depot and Ikea.
Too often, builders and home sellers
take advantage of the public’s thirst for status and a superstar lifestyle,
purposely including certain features that we associate with luxury, but are
little more than a façade or marketing gimmick.
Likewise, adding expensive and
frivolous features and fixtures to a mid or even up-market home doesn’t
automatically propel it to the rarified air of luxury. Custom swimming pools,
wine cellars and electronic self-closing blinds are great, but they are still
no substitute for class.
But before we start defining luxury
as a certain je ne sais quoi as the
French say - that certain indefinable something - there are tangible elements
we can pinpoint that most luxury homes enjoy.
1. Neighborhood:
The Locationx3 adage is a real
estate cliché, but it’s also never been more true. You just KNOW when you’re in
a luxury neighborhood – and so does everyone else. Over the last housing boom
of the early 2000s, too many people bought into the dream of living in a luxury
home and community by purchasing new(er) construction that had all of the bells
and whistles. But research shows that established and mature homes and
neighborhoods are actually of a higher building quality and retain their values
better, as they have more long-time owners and a well-established exclusivity.
2. Uniqueness
It’s very rare that luxury homes are
homogenous with the rest of the homes in the neighborhood. They have unique
characteristics, architecture, and design that set them apart and are hard – or
impossible- to replicate. Beware of McMansions and “semi-custom” homes that
builders slap up and then adorn with fancy facing and certain high-end
amenities just to justify a higher price tag, but are basically still cookie
cutter. When you are looking into any luxury home, it’s important to research
the builder, ask around about their reputation, other projects they’ve
completed, and make sure there is a unique “story” to the architect, the home,
or the community that sets it apart.
3. The little things
If God is in the details, then take
a close look at the small details in a home; if unequivocal quality extends to
small touches like the millwork, doors, hardware, cabinets, fixtures, appliances,
tile, grout lines, etc. then you know you’re surrounded by luxury. Our eye
always gravitates towards signature show pieces like grand chef’s kitchens and
dazzling room-size showers, but in a luxury home, the quality of construction
and use of top-end materials and amenities won’t be compromised at all down to
the smallest detail, even those people rarely see or use.
4. Views
No matter where you are, most truly
luxury homes have some sort of great view to set your eyes upon. Whether it be
ocean and coastline, hills and valleys, a beautiful garden, park, or fountain,
luxury homes that just stare out at the home across the street are almost
unheard of. For this reason, authentically luxury homes are usually at higher
elevations than their surroundings, or right on the waterfront.
***
Tune in for part two of this blog with the rest of the top
10 things to look
for in a luxury home.
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