What qualifies as a “luxury” home differs significantly around the world, in terms of both price and attributes of individual properties. Today, the definition of luxury homes goes well beyond simply “big” or “expensive.” Today’s luxury is defined by personal preferences. It represents your lifestyle, your individuality, your personal taste – your choice. Much like art, luxury can be said to be in the eye of the beholder.
The word “luxury” to describe homes is sometimes overused. So when half the homes on the market are suddenly marketed as “luxury,” the definition of the word starts to lose its magnificence.
But the term luxury has been used to describe everything from the ultra-luxury homes of the world’s wealthiest one percent to a modest kitchen with new appliances.
Luxury could be defined as owning a condo in a building designed by a renowned architect – or “starchitect” – which could certainly set a property apart from others as being luxurious.
Or a property could offer prestige or offer amenities that reach the owners priorities such as being easy to maintain from abroad or having enough space to entertain or a state-of-the-art kitchen design.
Translating that idea of prestige into a suburban or rural setting, luxury may be defined by being in a gated community or as part of an association that gives you access to an exclusive country club within the neighborhood.
In Arizona many luxury homes offer enough land to be considered “horse properties” or equestrian homes or large gated communities. Also, million dollar properties in Arizona come in the form of condo units, penthouses, single family homes and town homes.
It continues to go without saying, luxury is the quality of the build, the location of a home, the magnitude of a property—but it is also very personal. The beauty is, if you can dream it, the right Realtor can find it or have it built for you.