If you’ve ever looked over real estate listings and came across an ad for a “luxury home,” you might have thought, “Wow, this one must be special!” But what exactly defines a luxury home, anyway? Is it determined by price, location, square footage, or some magic combination of all of the above? Well, for starters, “luxury” isn’t strictly about how much cash you blow on the purchase. It’s much more subjective, and a moving target based on what a particular area’s high-end buyers have come to expect. “It isn’t simply a price per square foot metric,” says The Agency’s Daniel Stevenson, who specializes in selling luxury listings. “Many times luxury is simply in the eye of the very covetous neighbor.” While it’s hard to pin down an exact definition that encapsulates this air of affluence, luxury homes do tend to have certain features in common. So whether you’re looking to buy a posh place or wondering if you can describe your current digs in such opulent terms, here are some general qualities you can expect to find in a luxury home.
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