Categories: Finance

What Is The Difference Between Normal and Luxury Homes?

Prospective home buyers may wonder what, exactly, separates a luxury home from a “normal” one. The definition can seem arbitrary but there are some general expectations that come with a luxury property. Here are some of the most common factors that set a luxury property apart from the rest.

Luxury Homes Cost More

While “more” is a subjective term, it is undeniable that luxury homes come with a higher price tag than regular homes. This largely depends on location, as the price of a luxury home in one city might be the cost of a regular home in another. The main metric is whether the cost is higher than average for that area. A price of $500,000 is generally considered the low end for a luxury home and it goes up substantially from there.

More Exclusive Neighborhoods

Luxury properties are more likely to be in exclusive neighborhoods, with more amenities and better protections, such as gates, cameras and security guards. Some ZIP codes will have more luxury properties than others. It is not uncommon to see luxury neighborhoods around country clubs, golf courses, marinas and other upscale amenities. Privacy is something most high-end buyers view as a desirable feature in their new property.

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They Have More Features

Luxury homes also tend to have more features than average homes. These can include a pool, decks, more appliances, game rooms, in-home movie theaters, extensive grounds and other amenities not found in more modest homes. Upper-end appliances are also common. Luxury houses are commonly larger than other homes in a community, although this is not always the case because many condominium complexes are luxury properties. Luxury homes that are part of a homeowners association usually have shared amenities such as fitness centers, spas, clubhouses and more.

They Are Made With Higher-Quality Materials

Another factor that often sets luxury properties apart from regular houses is the use of quality, expensive materials in construction. These must be above the standard used in normal homes. They typically last longer, are more expensive and are more aesthetically pleasing than alternatives as well. Hardwood, marble and crystal are all materials commonly used in the construction of luxury homes.

In general, luxury homes are more expensive, more private and have more amenities than regular homes. What constitutes a luxury home will vary depending on location and often what builders and realtors advertise. Your first priority in choosing a home should always be what you need, and to do that, you must understand what options are available to you.

Lizzie W: Lizzie Weakley is a freelance writer from Columbus, Ohio. In her free time, she enjoys the outdoors and walks in the park with her three-year-old husky, Snowball. You can find her on Twitter @LizzieWeakley.

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