The Prerequisites of a California Luxury Home
What does it mean to own a California Luxury Home?
When someone tells you they own a luxury apartment or home in an elite suburb or city in California, you automatically may think to yourself “Wow, they must be over-the-top wealthy if they can afford such a space!” While luxury is often synonymous with a high price-tag, as we know when it comes to the Ferrari sports cars and Chanel lambskin bags of this world, there are many other features to consider when trying to scout out a luxury home for yourself.
Location overrules the price tag
The price-tag isn’t its sole definer, in fact, you may live in an otherwise “normal” apartment but the fact that your view is looking over Central Park in New York City or the San Francisco Bay Golden Gate bridge is what dubs it as a luxury find. Realtors know that high-end buyers are looking for the view that will inspire them to wake up with energy and continue on with their busy work-days, or the extra amenities that come in their condominium lobby, such as a 24/7 concierge and security guard, an attached restaurant and coffee break lounge, an all-inclusive gym and an indoor pool. Can’t forget about that rooftop terrace where you can invite friends and family over for a BBQ summer party every now and again. When it comes to the price of your space, we’re talking in relative terms. Let’s explore another country as a benchmark example. The urban french city of Montreal in Quebec may have a low starting price for a penthouse apartment of $500,000 in the Old Port, whereas you can’t get anything under $1,500,000 in LA. If a Montrealer were told that their neighbour owns a $500,000 penthouse in the city, they’d deem that person as a homeowner of some luxurious venue. However, if they were told that the homeowner lived in Los Angeles, then based on the market they would understand that the location of that apartment is likely not worthy of such a connotation.
High quality is a pre-requisite
Quality is not forgotten as a main feature of a wealthy location. If you take a look at the floorboards and countertops of the space, you should be blinded by the shiny finishing of marble or clean hard-wood floors that were imported all the way from Brazil. Large and small kitchen appliances, such as a sub-zero fridge or kitchen-aid coffeemakers and mixers, you’re looking in the right direction. Anything that will make you feel like your life is plucked out of a Hollywood-movie is what realtors strive to have the potential homebuyers imagine.
On-ground security and private yards
Oftentimes, it’s the rich and famous who will decide to splurge big on a million dollar and up home in California. One of the tell-tale signs is when they look for private quarters within a gated community. On-ground staff that is dedicated to burning the midnight oil and paroling the perimeter from any crazy fans, paparazzi or trespassers are a necessity for these types of folks. Complete peace and quiet comes with big figures.
The historical importance of the estate
Is the home your California friend owns far from the flashy kind with a two-story garage and crystal chandeliers in every room? Perhaps they chose this prized space for its provenance, or in other words, the historical relevance it has. The story of a place in time can amp up any selling price. Whether it be that a famous architect built the spot, or a bourgeoisie in old times quarrelled your acres of land, it may be a good enough reason for making such a grand decision.