What Is a Luxury Home, and What Makes It So Special?
Posted by The Cobb Group on
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…
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