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    Defining What Makes a Property Luxury

    Posted by Andy Boldt on December 19, 2018
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    Defining What Makes a Property Luxury

    While the term “luxury” might still seem confusing and subjective, there are certain features that differentiate a traditional home from a luxury one. From a coveted location to the bragging rights of snagging a centuries-old home, there are a few factors that influence a property’s status as being luxury.

    Exclusivity is the Definition of Luxury

    A house with a story behind it is extremely valuable. Whether it was designed by a particularly famous architect or was lived in by someone famous, a home that offers a unique quality that can’t be found anywhere else will certainly sell as a luxury. If you’re trying to market your home as a luxury property, you’ll want to ensure you make it an exclusive deal. Find a unique feature or story to highlight that no other property will have and use that as a sales tactic to intrigue and entice buyers. Whether this is an emerging smart home technology that is innovative and practical or a special amenity such as a candy room or tequila bar, it’s important that it feels unique, creative and exclusive. While a prime location does play into the luxury status of a home, don’t overlook the importance of an up and coming neighborhood. Luxury is location, but that location can be somewhere that is going to be hot in the future, too.

    You Can’t Compromise on Quality

    While many homes are marketed as luxury and might look like it from the photos, the mark of a true luxury home lies in the details. High-end homes are made with built-to-last materials that will stand the test of time. Rare, expensive materials are present throughout every room of a luxury home and will stand out in style and quality. Realtor.com notes that marble, hardwood, Venetian plaster, crystal, and Miele appliances are all pretty standard in modern-day luxury homes. If you’re trying to make your home more luxury or are just beginning the renovation in order to flip and sell a house, be sure to include these features as they’ll pay off immensely in the long run and in the return you can expect to see on your investment. For a less expensive, short-term fix, you can consider staging your home with luxury-like furniture such as a renovated futon mattress that adds a stylish look to a game room or faux-hardwood paneling in the den to craft a unique look.

    Luxury is Personal

    At the end of the day, the term luxury is much like beauty: it’s in the eye of the beholder. As consumer trends and the market continue to influence what determines luxury qualities, homeowners will change their desires as well. It’s safe, however, to say that a great location, quality finishes, and an overall unique quality will all be timeless, luxury features that will continue to attract buyers for many years to come.

    Photographer: Matthew S Vaughn Daystar Digital

    Blog Post by Jennifer Dawson