What should buyers look for in luxury homes?
There are five categories of luxury. Mini-lux could be a $1.2 million one bedroom with 850 square feet. Megalux could be $5 million-plus properties that are big and grand and wonderful and everything. I encourage buyers to look at the bones. Cosmetics are almost easy, or at least there are a lot more possibilities. Bones are what they are. Sometimes people will get lost in Sub-Zero refrigerator-land, but, I tell them, you aren’t buying furniture, you’re buying an apartment. What factors determine whether a property is luxury, as opposed to just really fancy? Luxury is a very overused term. Real luxury is quite a unique and specific thing. True luxury starts with location. Space, light, and exposures are the makings of luxury. Luxury isn’t one thing. It’s a combination of things. It takes a discerning eye to determine whether something is luxurious, or potentially luxurious. A beautiful lobby can be luxurious – if you live in the lobby. What areas of the city are the best places to buy?
