We see it all the time, “Luxury Home
for Sale”, but what truly defines a luxury home? What makes it different than
all of the rest? In the real estate industry “luxury” is one of the most
overused words right next to “spacious” and “convenient”. The truth is that if
we use the word “luxury” in the proper manner there are very few homes on the
market that truly fit the definition.
I define luxury as something that is
an indulgence. Something that is not
a necessity in any way but rather something that we all wish we could have. I
don’t believe that a true luxury always requires a lot of money but many times
it definitely does. Silk sheets are certainly a luxury but one does not to be
wealthy in order to buy them. A Mercedes Benz is considered to be a luxury
vehicle but many middle class families own one. Luxury is not just about money,
it is about comfort, convenience and abundance.
Luxury also does not apply only to
material possessions. Staying in a 5 star hotel is certainly a luxury but you
don’t own anything, right? The experience of vacationing in the finest
accommodations available is a true luxury but it is about the service and
availability of all that you desire that makes the experience so worthwhile.
Yes, it does cost money to stay in a highly rated hotel but it’s really more
about lifestyle and less about possessions.
Another word that I think defines
luxury very well is “special”. We fly first class because we are treated differently than when we fly coach. It’s
true that the service is much better than lower priced travel and there is
certainly more comfort to be had but somehow it all comes together to make us
fell more “special”, more appreciated, more important. If this were not true
who would spend the extra money for a simple 3 hour flight? It is the way in
which something makes us “feel” that determines whether we consider it to be
luxurious or not.
Finally I think that luxury can be
defined as something that represents the best
that is available. A private jet (or helicopter) is certainly the most
comfortable and convenient way to travel and is by far the fastest way to get
from one place to another. We would all choose this option if we had the
choice, right?
So what does this have to do with
real estate? As I had mentioned earlier the word “luxury” is often over used to
describe an available home on the market. A true luxury home would meet all of
the definitions above and more. A luxury home would also display excellent
craftsmanship, superior design and be tastefully decorated. It would be
peaceful, private and extravagant. Most of all it would be impressive, very impressive.
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