The luxury real estate market is one that the majority of buyers never venture into for obvious reasons. But, by focusing on the quality and quantity of all the important things that can't be changed later, buyers can shift their focus to quality and amenities that are a must to obtain that "luxury property" label.
Location - It goes without saying that location is always #1. So, let's move location out of the way, since we're going to assume that the #1 qualitative item is a given.
Light - Natural light is an often overlooked asset in any home. If you've looked at a home and felt it was too dark, what you're really asking is "Where's the natural light?" This was a problem the caveman encountered and probably one of the top reasons he eventually ventured out of the dark, dank, windowless shelter.
View - You can never change the view, it is what it is. If the home you're considering overlooks a factory, you aren't going to be able to change that with bushes. (Go back to Location) If other homes obstruct your lake or ocean view, that isn't going to change, so be sure you carefully consider what you will see everyday.
Floor Plan - When I practiced in a near-exclusively luxury market, floor plans were many times...interesting. Would you want to pass through two bedrooms to get to a bathroom? Undoubtedly the answer is NO. But, in a market with abundant natural light, views from virtually every window, and a location to die for .... think mountains .... floor plan was not high on the luxury priority list. In the luxury markets of Houston, floor plans are of utmost importance. You're going to want to enjoy your living space with family and friends so the most desirable plan should be one that offers plenty of social space without intruding on private space. Unlike the coziness of the luxury mountain retreat, you're going to live day-to-day in your luxury suburban or metro home.
Uniqueness - The more unique the home is architecturally, the narrower the appeal for resale. This is not to be confused with style. Whether you choose an ultra modern glass based design or traditional brick and stone, you'll want to make sure the home features top-quality materials and workmanship and artistry.
No Fixer-Uppers. - Yes, that is a period a the end. Unless you have unlimited resources, high-end renovations are time consuming, frustrating and usually cost prohibitive. Don't be tempted to try to reconstruct luxury lost in the home, or the missing luxury you're looking for - just keep looking. Your home is waiting out there. Maybe this section should have been labeled Patience.
Once you have found these things in a property with the help of your agent, make sure you can envision yourself living in the home. If the look and feel of the home are comfortable from the outset, you're likely to make a good choice. You should always love the home you decide to buy.
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