Many factors place a home in the Luxury category. One way that we have defined luxury in the past is the top 20% (pricewise) of homes that have been active in MLS during the past 6 months without acreage. Every location will then be different, in defining their luxury market.
For instance:
Corvallis $700,000
Albany $570,000
Philomath $615,000
Lebanon $425,000
Sweet Home $400,000
Beyond price, when you walk into what is considered a luxury home today you are likely to find some of these amenities:
- Architectural Excellence: Unique designs with high-quality materials and craftsmanship.
- Smart Home Integration: Advanced systems controlling lighting, climate, security, and entertainment.
- Wellness Amenities: Features like home gyms, spas, saunas, and meditation rooms.
- Gourmet Kitchens: Equipped with professional-grade appliances, spacious layouts, and premium finishes.
- Outdoor Living Spaces: Seamless indoor-outdoor transitions with kitchens, lounges, and entertainment areas.
- Sustainability: Eco-friendly designs incorporating solar panels, energy-efficient systems, and sustainable materials.
- Location: Beachfront, golf course, and gated communities are examples of locales that boost the property.
You can make changes and create spaces that attract more buyers as a result. If you are considering upgrading, include these features and you will likely be investing wisely in terms of consumer preferences for luxury that boost the property.