Every year, people make life-changing financial decisions to own a home. Indeed, the real estate market is a vibrant sector with associated highs and lows. However, it doesn’t stop potential homeowners from finding a property that suits their immediate and long-term needs. It is probably why 2021 recorded a 35% increase in the sale of such properties. While homes serve the same primary purpose of providing shelter, some are high-end, and others are not. Many reasons account for this, including the following.
A home with a distinctive design does more than turn heads. These properties move away from the cookie-cutter type of houses you normally see in suburban areas. This will generate special attention from the public and specifically from potential high-end homebuyers, making it worth the build. For example, waterfront homes and properties draw more appeal because of their unique designs. Moreover, they are costly based on the principle of supply and demand. There is high demand for them but little supply, which explains the associated high cost.
Location or siting is a major determinant in the real estate industry. For luxury builders, it makes almost all the difference in whether a home can be classified as high-end or not. Naturally, certain geographic locations worldwide are noted as luxury and high-end. Therefore, when a developer completes a project in an area like that, it automatically assumes that status. Indeed, sometimes, the property may not be all that, but the fact that it is sited in a zip code noted for high-end buildings attains prestige.
Usually, when a location begins to have an influx of developers putting up magnificent architectural pieces, the public immediately thinks such properties are high-end. Indeed, it is rightly so, especially because these things contribute largely to how areas like that are perceived in the real estate market. Another point worth mentioning is the areas surrounding high-end locations. They also benefit from the ‘spill-over’ luxury effect. More so, the privacy of such a location is a huge requirement and expectation of luxury-home owners. It’s also smart to get a home that already has a good home security system.
Greater square footage
While less is more in a minimalist world, more is certainly bigger in high-end homes. The average American home is 2,400 square feet. However, that may just be the dimensions for an attached home (an out-house) in high-end homes. According to Statista, even though the square footage for high-end American homes has decreased, 3,500 sq. m is still a large ground. The added size makes room for large customized bathrooms, outdoor amenities, an increased number of bedrooms, etc.
Every potential homeowner with the money to spend on high-end real estate wants value for money. In other words, the bigger the space, the more design options to explore. It is one of the crucial factors determining a high-end home’s inherent value.
To conclude, by their very design, size, features, and location, high-end homes distinguish themselves from all other properties. Therefore, if you can purchase one, as wealthy Americans are already doing, make sure it offers exactly what you paid for.