How to assess the value of high-quality, luxury homes

If you’re the kind of buyer who appreciates a six-burner Wolff stove and a custom-paneled Sub-Zero refrigerator, you’re looking for more than square footage. You’re looking for a home that really speaks to you, reflects your lifestyle, and rewards you with a rush of pleasure and satisfaction every time you walk through door. But this kind of luxurious, high-quality home is sometimes difficult to place a valuation on. Just how much more should you pay for that heated driveway, basketball court, and pool? 

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Quality you can feel

When visitors walk into your home, they might not notice the detailed woodworking, but they will notice how it feels to be in a home with high-quality workmanship. And so will you.

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Every day you walk through your space, quality craftsmanship (like bull-nosed edges on your dry wall and waterfall edges on your granite countertops) not only looks good, it feels good, enhancing any lifestyle.

A new view on life (literally) 

What’s life above the inversion with a view of rustic Wasatch mountains, pine trees, and a stunning panorama of the valley worth to you? While some buyers are fine living down in the valley, others prefer the hillsides. Discriminating buyers also take the aesthetic of neighboring homes and community security features into account.

Reduced maintenance costs and worries

“Commercial-grade exterior doors with embedded thermopane windows, extra insulation in the attic, a brick exterior, commercial HVAC systems —these are not typically reflected properly in the basic cost per square foot calculation, but they (among other items) have greatly reduced my maintenance over the years” says Homie homeowner Dan Peterson.

A quality home that has been well-maintained can mean less annual maintenance, which can save valuable time and money. It’s recommended that homebuyers set aside 1-4% of the home’s total value aside annually for repairs and maintenance, which makes it easier to understand quality’s real value.

Protected resale value

According to Remodeling.com, there are quite a few home upgrades that can have a positive ROI for homeowners. A garage door replacement, for example, may cost $3,400 on average, but 98.3% of that cost can be recouped according to their data. Similarly, a wood deck addition, a minor kitchen remodel and a steel entry door all have ROIs of more than 80%. And a luxury master bath is always a hit. 

While homeowners should pay attention to this data, so should home buyers. These numbers speak to the value that quality materials and renovation can have on your home for years to come.

Living your best life

Quality features can make the difference between living in a home and truly enjoying a home. As a homebuyer, look deeper than what’s on the surface —you may find that the very best “hidden features” are the ones that will make life more pleasant and will ensure that your new home withstands the test of time.

So, what does all this mean for assessing the value of high-end homes? We come back to the age-old adage, a home is worth what a buyer is willing to pay for it. And discriminating buyers know the value of quality. Browse high-end homes at homie.com today.

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