This is What’s Considered Luxury Real Estate

I am sure that you see the term “luxury real estate” thrown around quite a bit. When you hear that word it is hard not to automatically have your mind flooded with what you would want in a home if money was no issue. A pool maybe? The ultimate home theater? Or me personally, I always wanted one of those glass floors that went over the pool or a Koi pond. Like you see in the James Bond movies.

But as you think about what a luxury home consists of, you also think about the price tag. So without doing a search, which is out tool for everything, what do you think the typical luxury home goes for these days? Think higher. Higher. You are getting warmer.

Well, according the Wall Street Journal the price of luxury real estate is changing. Homes priced between the $20 million to $40 million dollar range are becoming more of a normal item and are losing their “shock value” on the real estate market. Luxury homes across America are now exceeding the $120 million dollar range.

While luxury home were considered those appraised for over $1 million, which technically is luxury, that definition is a thing of the past.

But don’t worry, there is still truth in the saying “beauty is in the eye of the beholder”. This is definitely true in real estate. You don’t need $110 million to have a luxury home. You can still have certain luxuries that you have always wanted with home that are in your price range. You just need the right agent to help you get in that home.