Have you ever wondered what makes one home a “luxury” home, and not another? Well, there is no single objective definition. A few different factors can impact whether or not a property is considered a “luxury” home or not. These include:
Factos for Classifying a Luxury Home
- The cost of the home relative to the area
- Where the home is located
- The square footage of the home
- The features of the home
- The materials of the home
- A home’s history or architect
- The seller’s definition
- The buyer’s definition
In some situations, a seller might market a property as “luxury,” and a buyer might disagree, or even vice versa.
When you are shopping for a luxury home, you need to be aware of what your definition of “luxury” is. You also need to decide what your priorities are. Unless your budget is massive, you probably are not going to be able to get all of the luxury features you want in a home all in one package. Here are some questions you can ask yourself:
- Am I willing to pay more to live in a particular neighborhood? What do I want to live close to in terms of amenities and attractions?
- What matters to me in my surroundings? A large yard and garden? Privacy? Picturesque views?
- Are there special materials like fine woods or marble that I want in a home?
- What kind of smart technology do I want incorporated into a home?
- Are there special appliances or custom features I want in the kitchen or bathrooms?
- Am I looking for a swimming pool, hot tub, home theater, game room, walk-in closet, etc.?
- What kind of floor plan and square footage am I looking for?
Let Us Help You Buy the Luxury Home of Your Dreams
Whatever the features you want in a luxury home, Lending Bankers Mortgage can help you purchase a luxury home in Miami or anywhere in Florida with a competitive mortgage. To get started now, please give us a call today at 786-220-1100.