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What to Look for in a Luxury Home

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What do buyers look for when shopping for a luxury home? The answers are many and varied but certain features stand out as the favorites. The underlying idea is for residents to feel surrounded by the best money can buy – a reflection of the success they enjoy in life.

Whether you’re looking for a luxury condo or single-family home, take a look at some of the features most coveted by high-end real estate buyers.

Location

This is undeniably the single most important factor that defines a luxury home.

A gated community, perhaps built around a golf course with a lavish country club, or the penthouse suite of an elite high-rise is the kind of residential address that spells success in every way.

Properties in these locations offer exclusivity, privacy, lots of personal space, and in most cases, spectacular protected views of the surrounding city or landscape.

Impressive Architecture

Whether a condo or a single-family home, unique and beautiful architecture greatly adds value that’s retained through time. Who the architect is could be a selling point if you decide to sell the property in the future. A practical design, interesting details, artistry and top-of-the-line materials are some of the hallmarks of great architecture.

Exceptional Storage Space

Spacious closets with enough space to store and display designer clothes, shoes and bags are a must-have for luxury property buyers.

In single-family homes, this often means walk-in closets (preferably separate his and hers) with built-in shelves and racks, and a separate dressing room.

In condos where space is more limited, buyers want enough room to add shelves and racks, and perhaps added storage space in the basement.

The Gym and Pool

Exclusive, members-only gym and pool are two of the most popular amenities in luxury condos.

In single-family homes, buyers often look for a swimming pool as well as a fitness room which can accommodate their exercise equipment, plus extras like a television, wireless speakers, and a spa.

High Ceilings

Whether in a condo or a single-family home, high ceilings are the standard in luxury properties, with a preferred height of 12 to 14 feet. Buyers now look at cubic footage instead of just square footage, particularly in condos.

Hi-Tech Features

Wireless home automation has become a sought-after feature by luxury home buyers. Using just your iPhone, you can remotely control your home security and alarm system, entertainment and communication systems, the lights, temperature and even the blinds.

Professional Kitchen

The kitchen has become a primary entertainment and living center in a home, and luxury home buyers give kitchens a lot of attention. They look for features like warming drawers, a walk-in pantry, and professional-grade appliances and fixtures, along with fancy finishes and the highest-grade materials. The kitchen also has to be spacious enough to accommodate the family or guests at informal gatherings.

Layout

A 2013 study cited an open floor plan as the most desired feature of luxury home buyers, suggesting the need for spacious and airy surroundings. This applies to condos as well, but with a condo’s smaller space, a clear separation between the entertainment and private areas is desired.