When house hunting, you’ll have noticed that a distinction is often drawn between run-of-the-mill properties and so-called ‘luxury’ properties, but what’s the difference? What makes a luxury property so luxurious?
- Quality: A luxury property is made with high-quality, long-lasting building materials and finished with an elegant touch. The aesthetic of a luxury property is possibly the most important aspect in making it so and the deciding feature for many when buying one.
- Size: As well as being high-quality, it stands to reason that luxury properties are larger than normal buildings, big enough for each family member to have their own space. The communal areas, too, are on a grander scale, with spacious kitchens, living rooms and games rooms.
- Exclusive features: These properties usually come with added extras not present in a traditional house, such as saunas, spas and swimming pools, cinemas, cellars or guesthouses.
- Location: Many luxury properties are to be found in the same neighbourhood, albeit with a sizeable distance between each one to maintain the neighbours’ privacy. They are often located in quiet suburbs, within gated communities with 24-hour security but are still served by services such as hospitals, shopping centres and prestigious international schools.
10 Features That Define A Luxury Home
So, what are some of the features that modern-day billionaires and millionaires look for in a luxury home?
Technologically competent
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 keyword. Depending upon the price tag of the property, the extent of technological advancement would vary. Energy-efficient homes, smart lighting and sound homes, climate-control homes, homes with smart toilets — all of these have become a thing of the present.
Quality construction
The quality of the raw materials, fittings, furnishings and accessories define a luxury home. Besides 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
Space is basic in a luxury home, even if the property is in some 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.
Location
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.
Neighbourhood
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.
Trend-setter
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 a mid-ranged project is not quite the same. Hence, luxury projects add to the charm which regular projects, at most, try to ape. Similarly, homes with gazebos, outhouses, or an outdoor leisure space are a rarity and hence, the price.
Entertainment at home
An entertainment zone 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.
Fitness first
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 all the required machines and weights and have a television, wireless speakers and other gadgets in place that lets the owners gym in style.
Up high
A personal elevator that opens to the foyer of an opulent home is one of the most popular features of a luxury property. As a result, elevators are now a must-have in all kinds of luxury properties, an apartment, a penthouse or a mansion.
Spread-out personal space
Bedrooms in luxury property have 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.
5 Benefits of Staying at Luxury Homes
Let’s face it, holidays are well-earned. It’s something we work towards, look forward to and is a time where lifelong memories are made. So such a highly anticipated event certainly deserves the highest standard of accommodation.
Laying your head in the ultimate of luxury is the icing on the cake of a perfect trip. So let’s take a look at 5 reasons why your next choice of holiday accommodation should be nothing less than a luxury private home – a place where you can truly live the high life for the duration of your stay.
Exclusivity, privacy and high-end design: Imagine holidaying in a house worthy of those glossy magazines that showcase celebrity homes. That’s exactly what you’re going to get – lavish furnishings, wonderful views, top-end appliances, the latest tech gadgets, your own pool and, most importantly, in a wonderfully private locations. Families can rest easy that the kids can make as much noise as they want, and the advantage of your own private haven is that you don’t have to share it with anyone else.
Room to move: lots and lots of room: Luxury homes have space to move. In such a location, there’s never going to be an issue with families or friends feeling like they’re on top of each other because space is something you won’t be short of. So if you fancy a quiet spot to read, listen to music or just have a bit of me-time, then such property is perfect. Plus they’ll be plenty of outside space for the kids to let off steam or for a family game of cricket or footie – and of course, the ubiquitous Aussie BBQ.
Amazing service: It’s not just the home that’s special, the service you get is pretty incredible as well. From the moment you book, you’ll get the star treatment with a pre-holiday information service second to none. Our guest services team will set up your home from home to your personal specifications before you arrive (cots, highchairs etc.) Your holiday team can also assist with aspects such as an in-house chef, restaurant and tour bookings or any other bespoke services you might require during your stay (recommended to discuss before arrival and pre-book to avoid disappointment).
The millionaire touch: The nature of such beautiful homes is that they’re usually located in places that offer the ultimate in perks, for instance, right on the beach or in the swankiest part of town. Most have private pools or hot tubs, and many boasts feature a games room, private theatre room or a sauna.
A more authentic experience: Spending your hols in a residential area instead of a hotel or similar means that tourists won’t surround you. Instead, you’ll be brushing shoulders with locals, therefore providing a far more immersive experience and better access to local neighbourhoods and all the wonders they offer. Shop at local markets and stores that most visitors don’t even realise exist, plus interacting with locals means they’ll give you the inside story on the best places to eat and secret locations that never make into guidebooks or tourist information.
What Does It Cost To Build A New House?
The biggest mistake most people make when planning a dream home is not understanding build costs. It’s very easy to think that $1 million is a lot of money for a home, but if that includes everything from GST to fees of all the consultants, you are left with significantly less for the actual build cost. This article aims to discuss the costs of building a house comprehensively and outline aspects involved in building and how they affect costs.
In Melbourne, we generally gauge a building’s construction costs by combining size, quality, and level of difficulty. These three aspects can give a very rough indication of feasibility. Still, many other factors affect the cost, such as time-frame, site access, site context and conditions, level of technology, luxury appointments, and degree of energy efficiency. In addition, however, architectural homes will often have further factors such as the level of detail, complexity of structure, and then, of course, the architects themselves.
The most expensive build is thus one that includes all of the aforementioned factors. Unless you have an open chequebook, having it all is not always possible, and they’re often needs to be compromises. While there may be a desire to include everything, the reality is that not everything is actually needed, and a good architect can assist in determining the priorities and determine what is achievable, appropriate, and ultimately feasible. Preference for a very large home of high quality, for example, might require a smaller building company who may take longer while also foregoing some luxury items such as a swimming pool, home theatre, or lift.
Architects may be seen as magicians, but they are not miracle makers. While we can design spaces to feel larger, be light-filled and uplifting, we can’t physically make spaces bigger or introduce quality finishes without affecting costs. We can make the most of a sloping block and be sensible about how energy efficient the house might be, but if the block is badly orientated, sloping, or has poor soil conditions, we can only do the best we can with
The Main Points Affecting Building Costs
Size
Naturally, a larger house requires more materials, more labour, and sometimes even more specialised equipment to build, particularly if it has physically larger elements such as benchtops or glass window panes which may require cranes, scaffolding, or cherry pickers to assist with installation. A larger house may also take longer unless a larger team is employed for the build. However, at WOLF ARCHITECTS, it is not in our nature to be wasteful, so we are always looking at where we might trim off some fat and, in doing so, reduce building costs.
Build Quality
High-quality materials, finishes, and fittings naturally increase costs, but this is due to more than just the raw materials themselves. Better materials demand better finishing and craftsmanship, and the labour costs increase proportionately. In addition, inexperienced tradesmen will potentially damage quality marble tops or timber floors. A builder who understands how things work will be required to schedule works properly and provide adequate protection to the materials during and after installation. At WOLF ARCHITECTS, we believe in only investing in quality finishes and fittings where it is most effective in purpose and impact. We work to get the most out of our client’s investments, and sometimes a strip of marble at eye level, which can be touched, is of more value than a whole room clad in the same material.
The complexity of Design and Level of Detail
Architects are the only professionals trained to get the most out of space. Our ability to create the illusion of something being grander, larger, and imbued with light, beauty and meaning have earned us magicians’ reputation. However, this standard of design can add to costs as voids, split levels, open plans, and spaces that connect cleverly together often require structural designs beyond the norm. Complex structures will be harder to conceive and assemble, but the structural members and materials themselves will add to costs.
Regarding the details, it’s most economical to use what we might call standard details incorporating simple but conventional skirting, cornices, and architraves, with standard door and window sizes, etc. These are universally understood and available instead of components that have to be imported, customised, or carefully constructed. Clients, however, rarely use architects to obtain average or standard details, so having a clear understanding of how elevating the level of detailing impacts cost is critical to keeping within budget.
Time Frame
Finishing a project quickly is not about rushing and therefore increasing the likelihood of careless mistakes. It often involves having a larger team on board to get more done. At the same time, adding more people to the team doesn’t automatically mean that work will progress faster. You must ensure that each individual is experienced and able to coordinate with the other team members effectively. A builder with a larger team of experienced tradesmen who can guarantee deadlines will command a premium. A sole operator will be a much cheaper option per day but could take significantly longer.
Site Access and Conditions
Builders need good access for delivery, storage, and use of machinery. A tight inner-city site or renovation project will be a costly logistical challenge. Sloping blocks also present challenges, and it’s not uncommon for build costs to increase by as much as 30% where the slope is steep. The soil conditions also affect the type of foundations, and if you hit a rock while excavating, the costs will blow out even further. Another potentially problematic condition to consider is when building near a water source such as a beach, lake, or flood plain.
Furthermore, building on or near a boundary shared with another building or trees requires more complex forms of support and protection. This is why most build and construct type display homes are only possible on regular, flat blocks. If the site has inherent complications, you need a good architect to make it work or risk it being a mess.
Technology and Luxury Items
Technology should always be considered a luxury, especially with the amount of choice, control and wizardry of modern smart systems. Swimming pools, basements, home theatres, and lifts are all items that many of us want but don’t really allow for when calculating cost. A basic rectangular swimming pool, for example, might start at $60,000 and seem affordable, but when you add in the pool fence, cover, heating, and self-cleaning, the cost can easily double. On top of this, add designer tiles, an infinity edge, a spa, a little more length to allow for laps, and what once was cheap is now very expensive. This kind of cost escalation can also occur for home theatres, lifts, and basements, and this is why those items are often not included initially when working out basic building costs.
Energy Efficiency
With the minimum energy rating in Victoria now at Six Stars, it’s almost impossible to escape double glazing and insulation, which have increased average building costs in recent years. While most WOLF designed homes aim to achieve 7 Stars or higher, it can be very expensive to go beyond six. In addition, hydronic heating and off-grid power sources from solar or geothermal energy are not cheap, and few clients will extend their budgets to accommodate these despite the long-term benefits. Incorporating recycled materials can also prove troublesome as they can be difficult to source and implement as well as being more labour intensive.