Putting the Luxury into Luxury Homes
Beauty may be in the eye of the beholder, but defining what makes a luxury home luxurious depends on more than just your eye. Though personal taste is still the most important factor in finding a luxury home, what makes something a ⦡mp;#8364;œluxury⦡mp;#8364;? home depends on a number of factors. According to several Boston area real estate professionals, location, amenities, and views are all important criteria. Despite the different markets that they serve, those interviewed all agree on one thing: Today, it⦡mp;#8364;™s the amenities that are in a house or condominium that matters, not just its size. What one buyer may consider a luxury, another may not.
People want to create an ease of living that is push button and that includes media rooms, home gyms and that level of amenities,⦡mp;#8364;? says Hawkes. People are cocooning and love the idea that their home can be a destination resort. Many work very hard and when they get home they don’t want to go out at night; they want to stay in and relax. Homes have become more than just places to sleep; they have become a destination in themselves. Hawkes also sees luxury buyers investing in kitchens, bathrooms and finishes.
Its nothing to see people spending $100,000 to $200,000 on extras for a kitchen. Hot items in kitchens are the appliances: Wolf, Gaggeanu, Sub Zero, Bosch, to name just a few.⦡mp;#8364;? Finally, Hawkes sees a change in the way people design the flow of their living spaces. ⦡mp;#8364;œLiving spaces have gotten larger and more open. They aren⦡mp;#8364;™t as compartmentalized as homes of the past. Rooms flow into each other and kitchens are open to the entertainment rooms.⦡mp;#8364;? As to pricing, she sees luxury homes in her market as generally over $1.5 million.
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