What defines luxury? We all have our own definition. Mine can actually change sometimes depending on my desires of the moment. One evening I may wish to dine ocean side with a loved one, toast fine champagne and eat lobster under a full moon. Another day I may wish to awake in the mountains and feel the crispness of a fall day, sip freshly ground Guatemalan coffee from fine china while snuggled up under down and fine Italian linens, looking through a wall of gleaming floor to ceiling Pella windows. That’s just me though.
For the purposes of standardizing a definition of luxury homes, however, let’s consider properties that are one million dollars and above. Hopefully, they each have some remarkable characteristics that make them wonderfully unique whether it be historic significance, artistic details, exquisite gardens and the like. Regardless of what makes these homes special, there are a few trends that you can expect to see in “luxury homes” of the day. According to a survey conducted by the Institute of Luxury Home Marketing and Unique Homes, you can expect the following:
More then four bedrooms - 78%
A home office - 84%
More then four bathrooms - 92%
Home theater - 38%
Outdoor kitchen - 38%
Mini-kitchen found in master bedroom - 11%
Home gyms - 59%
Pools - 54%
Separate guest houses - 19%
Waterfront or water view - 58%
There are other statistics in this profile, but these areas had the higest rankings in terms of popularity. Upon sampling the luxury homes on the market in our local area, East Tennesseeans are doing a pretty good job on stacking up in the luxury living department.
Currently, there are approximately 75 homes listed over $1 million in Knox County today. A sampling of them proves that although the personalities of the owners and builders of these homes make them distinctly different than the next, they have many of todays luxury standards - even in the historic homes. I randomly selected 10 of these homes, and here is what I found.
So...if you are thinking of selling your luxury home and are wondering what to do in preparation for getting it sold, your home office and home theater are a great place to start. Please let us know if you need any help with staging these or any other areas of your home to make it really stand out in the market. Call 865-379-8729 or email us here.