Super Luxury Homes
Depending on your information source, you will get a different answer to the question of what can be classified as a luxury home. The greatest difference in definitions is between countries; however, there seems to be agreement regarding the upper end of luxury homes.
Homes that are unquestionably luxurious, are worth tens of millions of dollars or more. They have incredible amenities, professional landscaping and property planning, and are generally massive in size with ten or more bedrooms. These homes are advertised nationally and internationally. Real estate agents for these properties have additional responsibilities involving trusts, attorneys, and anonymity issues.
No one seems to question that these homes, often owned by extremely wealthy and usually famous people, are luxurious. In fact, these homes should be called "super luxury" homes to differentiate them from other luxury homes.
In an entirely different class, the other group of luxury homes, are advertised locally. Property in the US that is valued at over a million dollars is usually considered luxury real estate. Consumers in high socio-economic groups are the target for these properties.
This second group of luxury homes may have features such as wet bars, designer kitchens, wine cellars, theatre seating, in-ground pools, security systems, professional landscaping, heated floors, and tennis courts. These homes are generally larger than average with good locations, amenities, property entries, and entertainment capabilities.
Luxury homes tend to have entertainment rooms with features such as built in seating and high end, up-to-date technology for the best movie watching experiences. Designer kitchens are also very trendy in luxury homes with features such as custom paneling for appliances, extra under-the-counter refrigerators or beverage centers, and wine bars that fit among the kitchen pantry and other storage cabinets. Designer kitchens also include granite countertops, high end fixtures, customized storage drawers, and pullout pantries.
There's no question that this second group of luxury homes are also desirable homes to live in. However, are they really in the same class as homes in Beverly Hills which are also called luxury homes?
In both groups of homes, location, amenities, property entry, entertainment capability, and landscaping are considered. Most luxury homes offer a combination of desirable natural elements such as ocean proximity, views, or climate, and professionally designed landscaping and architecture. But really, if a 1.2 million dollar, lakefront home with a dock and a swimming pool is a luxury home, then Mariah Carey's home must be a "super luxury" home.
If you are unsure how to categorize your home, your best bet is to talk to an Accredited Luxury Home Specialist (ALHS). Real estate agents with this specialty are knowledgeable about national luxury home trends, luxury buyer and seller needs, and the development of unique high level services.
Questions and Answers
Buying a luxury home in Beverly Hills could be harder than you think. For well priced homes, the chance of bidding war is high and this article provides some guidance on how to make your offer more competitive as well what you need to do before you start searching for Beverly Hills home.
Owners of high-end luxury homes will usually have to take big discounts to sell unless they're willing to offer owner financing. If they'll become flexible, they can still get their price.
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