What Makes a Home Luxury?

There’s no checklist for labeling a property as luxury, although many features are common among upscale properties in major U.S. cities. Prime location, high-end interior finishes such as marble countertops, professional-quality kitchen appliances and customized closets and hotel-like amenities such as concierge services, a top-of-the-line fitness center and spa center are often staples of a luxury building.

“Prestige is one of the top two priorities [buyers] are looking for,” he says. The other priority is often based on the individual’s own priorities, whether it’s services at the ready to make managing the property from abroad easier, having enough space to entertain or a state-of-the-art kitchen design.

Translating that idea of prestige into a suburban or rural setting, luxury may be defined by being in a gated community or as part of an association that gives you access to an exclusive country club within the neighborhood.

If you’re questioning whether your home would be considered in the top 10 percent of your market, talk to an agent who is familiar with the area and high-end properties. An agent seasoned in both will ask questions to establish a feel for what the property offers. Rather than focusing on that vague idea of luxury, compile a list of the features your home has, along with details that set the property apart from the rest of the neighborhood and city.