If you are entering into the luxury real estate market as a potential buyer, it’s likely that you are someone who enjoys a few of the finer things in life. That being said, it can be pretty easy to get caught up in a number of aspects that have made Forbes’ list of frivolous things that luxury home buyers should ignore. Things such as whether a home has an outdoor shower or a Zen garden are unimportant; they can always be added later on down the road. Instead, buyers are encouraged to shift their focus to the quality and all of the attributes that a luxury property can’t be without.
Aside from location, here are a few key qualities that all luxury home buyers should be on the lookout for when house hunting:
Unobstructed Views and Light – Not only does the quality of natural light that the interior of a home gets help to improve your overall mood, but it has been known to improve resale value as well. Then once you’ve assessed the indoors, take a look outside and tell us what you see. A park? Golf course? Ocean view? It’s important to love what you see when you look outside each day, so be sure that you aren’t surrounded by anything that you would consider an obstruction of your view.
Practical Layout – One of the great things about a luxury home is getting to invite friends and family members over to enjoy it with you. If you plan on entertaining in your home often, it’s important to choose a home that has enough space to maintain a clear separation between your social and private areas.
Architectural Uniqueness – No matter what, good architecture will retain value over time. Instead of focusing on how the home looks today, consider how it may look in thirty years. Does the home have a solid foundation, unusual details, top-quality materials and/or an artistic component? These are the types of things you want to be on the lookout for.
Avoid the Fixer-Uppers – While you can always add to or reconstruct certain elements of a home, quality, high-end renovations can not only be time-consuming and frustrating, but costly as well. If the home seems like too much of a fixer-upper, it may be more worth it to simply move on and find a home that is already move-in ready.
When shopping in the luxury real estate market, it is extremely important to choose a home that you not only love, but that has lasting value. Don’t compromise when it comes to these points. As long as you have these key framework elements, all of the extra amenities can always come later.
Posted by: Miki Leibowitz of Leibowitz Realty