There is no single definition of a luxury home because “luxury” means something different for everyone. That said, people typically look for a house that checks the following boxes for prestige:
Location. A prime locale, often with stunning views, signifies a luxury home. This might mean an urban penthouse looking out on a cityscape, an many-acre estate, a log home in the mountains, or a beach house on the coast.
Significance. Luxury homes stand out from other real estate for their notoriety. This might include homes on the National Historic Register or those of a favorite style (craftsman, mid-century modern). Specific people, for example, a well-known architect’s or designer’s work could be sought-after, as are homes with famous former residents.
Aesthetic. Luxury buyers are usually looking for something unique with a “wow” factor. Often this is tied to the location with a million-dollar view. Or, it might mean an impressive driveway, entryway, and foyer. Distinctive features can make a statement, setting the house, and the owner, apart from everyone else.
Exclusivity. The owner of a luxury home expects some perks that might not be available to just anyone. This might mean occupying the penthouse apartment, living in a gated community or on a golf course, having a concierge or doorman, or something hidden away down a private lane.
Every buyer has their own personal view of perfection when it comes to these factors. But in general, every luxury property stands out in some way in at least one, if not all four of them.