Luxury home models that sell for $1 million or more aren’t uncommon in today’s designer home market. With price tags of seven figures or more, luxury home buyers have high expectations for the luxury home designs they purchase. If you’re contemplating listing your home on the luxury market or perhaps building luxury custom homes from the ground up, consider these 4 tips on how to help your home compete with the luxury home models on today’s market:
- Go green
Luxury home designs are often criticized for being extravagant and wasteful, but today’s environmentally-conscious home buyers have more than good looks on their minds. Elevate your home with energy-saving and eco-friendly upgrades that go beyond solar panels with these additions:
- Proper weather stripping: According to Energy Star, air leaks account for up to 40% of heating and cooling losses in homes which aren’t weather stripped. This is particularly important if your home is in a climate with extreme weather conditions.
- Reexamine your windows: Double-paned wood- or vinyl-framed windows can reduce costs by 18 to 24% during summer and winter months.
- Spray foam insulation: Consider spray foam insulation for added savings up to 50%. Most spray foam insulation ranges from $0.44 to $1 per board foot. Your custom home builders or contractor can give you a more exact estimate.
- Install a geothermal system: By utilizing the natural stability of subterranean temperatures, geothermal systems can cut costs by 25 to 50% while also reducing emissions as compared to conventional systems. They’re clean and sustainable and sure to catch the eye of eco-friendly home buyers.
- Upgrade your kitchen and bathrooms
Designer home builders are upgrading the amenities in their luxury home designs to appeal to today’s buyers. Custom wine cellars with tasting rooms; full outdoor kitchens, including wood-fire ovens for homemade pizza; professional, deluxe at-home spa rooms; and private vineyards are all gracing today’s luxury home models. In addition to installing energy-saving features, ask your luxury home builders about adding a popular amenity such as a stone bathtub or infinity pool to your home. - Consider future guests
With their grand size, luxury home floor plans often contain an abundance of bedrooms. In 2013, 569,000 single-family homes were built. Of those completed homes, 251,000, or approximately 44%, had four or more bedrooms. Only 59,000 had two or fewer bedrooms. Homeowners are looking for room to spread out and entertain.
Guest cottages are a welcoming addition to many luxury home models. At only around 1,200 feet with one or two bedrooms, a guest cottage adds appeal without greatly increasing the cost of maintenance to future homeowners. Instead of building an extravagant pool, you may want to consider adding a guest cottage to your luxury house plans. - Security
For those looking at luxury custom home designs, the home itself is only the beginning of their valuables. While you can’t necessarily control the security of your neighborhood, you can take steps to increase the security of your home. Home buyers today are looking for security systems that are fully-integrated and controllable from their smart devices. They want to be able to check-up on things at home no matter where life may take them.
Talk to your home builder today about upgrading your home to the level of luxury home models.