The word luxury is often overused in real estate. If a home has a moderate number of upgrades or an upgraded look, some people will list it as a luxury property even though it does not technically meet the benchmark. For buyers, loosely using this keyword makes it harder to search for true luxury properties. If you are having a hard time locating true luxury homes in the market, learn about some of the search practices you can use to help.
Location
Where a home is located says a lot about the property. If you discover a listing that is labeled as a luxury property but is in an area not known for luxury, you may want to keep looking. True luxury homes are often surrounded by other luxury homes and located in areas known for their prestige. To make the process easier, you may want to narrow your search to zip codes that are known for high-value homes.
Material and Design
In a true luxury home, there are no cutting corners. Nothing is spared when it comes to the material selection and design of the home. For example, laminate flooring as opposed to hardwood or lower-end countertop materials as opposed to high-end quartz or marble both are two red flags to look out for. In a luxury home, every room should also be luxurious.
Non-Standard Features
Again, a true luxury home should have an upgraded feel. For this reason, these homes often have features in them that are not considered standard in the average home. A sauna, spa bathroom, wine pantry, gourmet outdoor kitchen, and an upgraded dressing room are just some of the features you would expect to find in a true luxury property. If you do not see any of these features, it may not be a luxury home.
Hire an Agent
When it comes to the true luxury market, keep in mind that a large number of these properties never hit the public market. You often need to be in the know to see these listings. Unless you happen to be friends with the seller, you probably will not be in this group, but a trusted real estate professional will be. Hiring an agent opens the door to unlisted luxury homes and it also helps you streamline your search, as the agent will research for you. Working with an agent simplifies the process.
Keep all of these factors in mind as you search for a luxury home for sale.