What makes a home a luxury home?
With recent headlines saying that Calgary’s luxury home market is stabilizing but not yet recovered, we thought we’d explore what constitutes and defines a luxury home.
One would think that it all comes down to price of a home, where a certain threshold in price sets the demarcation in home type. Though price per square footage is definitely a factor in classifying a home as luxury or not, there’s more to this than price alone.
It’s cliche, but ‘location, location, location’ plays a factor for sure. Luxury does depend on where you live. The most coveted locations will be seen as luxurious and in Calgary, homes with a view like those of Calgary’s twinkling city scape in Crescent Heights are definitely classified as such. Homes overlooking Fish Creek Park on the ridge, Mount Royal and Bel-Air fall into this category too.
Construction materials, certain appliances, and design also aid in classifying a house as luxurious or not. Using top of the line features that are significantly above what is considered standard increase the value of a home, and hence make it a luxury.
Adding features that are not normally common in most houses will make it a next-level home. Wine cellars, a movie theatre, state of the art appliances and technology, an indoor swimming pool or perhaps a bowling alley all boost a home to luxury-status. Check out these luxe amenities, some of them are so wild, we thought we’d share.
If a home has some link to heritage, fame or a great story behind it, it can also be considered luxury. Some people will prefer this category over others, using provenance as a reason to stand out and boast about.
At the end of the day, there are several factors which make a home luxurious. It really is in the eye of the beholder and a matter of personal taste with several factors, not just one definition. Luxury homes have been fun to list and sell simply because they have so much to offer, we've had the privilege to personally sell several homes in this category. As a result, they are also fun to admire. Let us know if there’s a particular spot in the city that speaks to you amongst the luxury market.