10 Features That Define A Luxury Home
Luxury in India, although growing slowly, has never faced any major setback. According to Forbes, in 2017 India boasts about 101 billionaires. Additionally, with almost 2.36 lakh millionaires, India stands fourth in the world to come up with a number as impressive as that. Naturally, a consistent demand for luxury housing is predictable.
So, what are some of the features that modern-day billionaires and millionaires look for in a luxury home?
Every real estate developer and homebuyer believes that a luxury home should be exemplary — in the kind of technology it uses. Therefore, automation is the key word. Depending upon the price tag of the property, the extent of technological advancment would vary. Energy-efficient homes, smart lighting and sound homes, clima-control homes, homes with smart toilets — all of these have become a thing of the present.
The quality of the raw materials, fittings, furnishings and accessories define a luxury home. Not just the construction, such home providers also have to attend to an array of services — improvement services such as interior and exterior makeovers or kitchen and bath renovations, concierge, design rebuilds or architectural makeovers.
Space is the basic in a luxury home even if the property is in some of the prime locations like Mumbai. Therefore, if you are looking for an apartment in Mumbai at anywhere above 3,000 sq ft, be ready to spend anywhere between Rs 10 to 30 crore or even more.
Luxury is also defined by the location the property is situated in. Large traditional homes in small cities or in the peripheries of big cities do not qualify as luxury. Therefore, the location has to be coveted, pricey and aspirational in every sense. Not just the location of the project but the location of the unit can also bring about differences in pricing.
A luxury neighbourhood invites the attention of the choicest few. Therefore, luxury developers target this niche populace and are cautious about maintaining the brand-value. These are properties where residents insist on privacy and therefore single unit per floor concepts became popular over time.
Be it the way you dress the home, the landscape, the kitchen or amenities such as pools, fitness centres and entertainment zones — each of these should be a trendsetter in itself but not quite either. Pricing always keeps the quality of amenities at an aspirational level. Hence, a pool in a luxury project and that in a mid-ranged project is not quite the same. Hence, luxury projects add to the charm which regular project, at most, try to ape. Similarly, homes with gazebos, outhouse, or an outdoor leisure space are a rarity and hence, the price.
Entertainment at home
An entertainment zone that is equipped with a home theatre and a personal gaming zone is the new addition to a luxury home. The latest-in-the-market gadgets are a must-have for the young and old alike. The main purpose behind this feature is to create a space where a home buyer never feels the necessity to leave the luxuries of the home.
Most of the luxury properties come equipped with a personal gym. The wealthy would prefer to sweat at the comfort of their home rather than in other gyms where they would have to share machines. Luxury homes have a separate room that comprises of all the required machines and weights and have a television, wireless speakers and other gadgets in place that lets the owners gym in style.
A personal elevator that open to the foyer of an opulent home is one of the most popular features of a luxury property. Elevators are now a must have in all kind of luxury properties, an apartment, a penthouse or a mansion.
Spread-out personal space
Bedrooms in a luxury property have a great value. A master bedroom, as we know it, has a large space to accommodate a king-size bed with plenty of seating area. It can also include all the hi-tech features with built-in automation systems. An extension to a master bedroom is a walk-in closet that lets you display all your expensive designer clothes, shoes and accessories. These closets are well-equipped with ample lighting, ceiling-to-floor mirrors, and best-in-class wooden wardrobes.