Special offer

Does Luxury Have a Price Tag?

By
Real Estate Agent with Museum Park Realty

If there's one term in real estate that can spark colorful debate, it's "luxury". Is it the price of a condo? Or is it all the extra bells and whistles that come inside or simply the fact that it looks nice to the naked eye? The term instantly conjures distinct meanings for everyone but one thing's for sure: the subjectivity of the "luxury condo" concept unveils opportunities for the savvy buyer to acquire luxury property at minimal expense.

In most cases, if a property costs a minimum of a million dollars then it's automatically deemed a luxury property. Ask the average homebuyer or impartial realtor if they believe this sentiment to be true and it's likely they'll tell you that luxury encompasses much, much more than just a seven figure price tag.

A million dollar or more property gives you boastful credibility and yes, the fact that you've just invested in a four bedroom four bathroom property in a "luxurious" neighborhood does perhaps grant you some sort of exclusivity but it really only scratches the surface of how flexible and multifaceted the term luxury is.

Luxury could also be the immediate area where you live. For example, Ten Museum Park in the "luxurious" areas of Downtown Miami. The condos themselves ooze extravagance but perhaps what makes them truly luxurious is the serenity and sense of security that only a waterfront gated community offers. Aesthetic and ambiance play crucial roles in making a high-priced luxury listing seem like a plush sanctuary.

Although ambiance and aesthetic are important, one could also argue that ultimately, luxury is being able to say you own a cozy home situated in a safe neighborhood with the best friends, family and neighbors. Considering how important condos are in the roles they play in our everyday lives, luxury should or could be defined not just on a condo's numeric value,

Comments (0)