A home valued at 5 million dollars and up is considered a luxury home. In the U.S., the most expensive home is found in Bel Air, California, and has been listed at 500 million dollars in 2018. Since luxury homes involve big money, hiring experienced estate agents is important when buying or selling them.
Some, on the other hand, choose to build their own luxury home, to make sure that every money they put is going to the details they love in a home.
Defining Luxury
Luxury real estate may have different meanings across markets. Los Angeles homes, for instance, cost more than the properties located in Oklahoma City. Hence, luxury is a term that can be used to describe a modest kitchen with brand-new appliances; it can also be used to describe the ultra-luxury residences of the richest people in the world.
However, some features can be seen in most luxury homes. Luxury homes must be in a prime location and have high-end features such as top-quality finishes, hotel-like amenities, customized closets, and a kitchen with professional quality appliances.
Sometimes, a property becomes a luxury when it is designed by a well-known architect. But the most important priority for luxury homeowners is that they have enough space for entertaining and a world-class kitchen design. For others, being part of a gated community with country club access is considered a luxury.
Building a luxury home
While others prefer to buy a move-in-ready home, some like to start from scratch, so they ensure that every part of the home is customized to their needs. These types of homes are called custom homes; when you’re building luxury homes, customization is important to make sure that your money goes right to where you want it to.
In building your dream luxury home, here are some tips to guide you through the process.
Preparing the budget
The most important factor in building a luxury home is budget. In outlining the budget you need in building a home, it is best to consult experts, so they can properly guide you on the current cost of building materials and processes.
When consulting, it’s a good idea to hire a contractor with in-house architects so no back and forth is needed when determining construction costs. Usually, architects design a home first and then the homeowner brings it to a contractor to consult for construction budget. However, the builder may say that the home design may be over your budget; then, you go back to the architect to draw another design.
Hence, hiring a contractor with an in-house architect can lessen the stress and hassle of going back and forth. You can just throw in your budget and their team will work the design fitting for your budget.
The location
As said earlier, one of the distinguishing factors of a luxury home is its prime location. Therefore, selecting the best location for your home is crucial. In choosing a home site, there are a few things you need to look for.
For one, check if you like the neighborhood. You’ll be spending the rest of your life here, so might as well, love your neighbors. If you’re the type who wants more privacy, check the distance of your home’s location from other houses.
Additionally, choose enough space so it makes room for everything you need in a home. At the same time, allot some space in case you would like to expand the home and your family in the future. In a luxury home, the view is also important; the view is sometimes what makes it a prime property.
The design
Your home’s design must spell luxury and elegance, but remember, the form must always meet function. Incorporate the things you need in everyday living into the design of your home. In designing, inform your designer of the size you want for your home and how many rooms it should have to accommodate the family.
Additionally, inform your architect about the most important part you need in a home. If your family is big on cooking, for instance, ask your architect to build you a spacious kitchen with a state-of-the-art design. Some health buffs, on the other hand, may want to have their own gym in a home. If a family is big on entertaining, then, entertainment indoor and outdoor spaces must be present.
Interior design adds a lot of luxury to a home as well. But luxury does not always have to look the same way. It is still possible to add in some personality, and each room in a luxury home may feature different interior designs. As a homeowner, it depends on his or her taste, and this must be discussed with the designer.
Building a luxury home is a luxury. Not everybody has the budget for it so not a lot of people have the chance to do it. But it’s not always about the money. Luxury is a feeling; it makes a person comfortable and pampered. To achieve this feeling, one must look into each detail that makes up the home. Having the perfect spaces and the right design can make a home a luxurious one.