What is Luxury Real Estate?

“A house for the rich and famous”-- this is the usual connotation people have of luxury real estate. In some cases, this is true. One must be financially strong to be able to afford one. Luxury homes are also often thought of as huge spaces encompassing a vast area of house and lot. However, to people working in real estate, size is just one characteristic of a true luxury home.

 

Luxury real estate is usually located near other luxury residences. The location of the home largely defines its stature, mainly because of the security and amenities that go with it. Some of the finest luxury homes are within the vicinity of beautiful beaches, the countryside, or similar places with breathtaking views.

Many luxurious homes have plenty of extra rooms where guests can stay, as well as fixtures and amenities that can keep the residents entertained and occupied. Pools, game rooms, and mini gyms are among the most common facilities found in a luxury home. Great design and architecture are also important characteristics of such a house.

Marketing luxury real estate can be a bit more of a challenge for realtors, as the property need to be advertised to a wider audience. Unlike standard real estate that may be advertised only locally, a luxury home for sale has to reach the attention of potential buyers near and far, specifically those people who have the right resources to afford such a property.