Luxury Properties 101: How to Know if You’ve Found the Real Deal

Not surprisingly, a luxury property’s location is the most valuable status symbol. A property in Vancouver’s West Point Grey is a prime piece of real estate, no matter what the house looks like. But buyers should also be on the lookout for up-and-coming neighourhoods with amazing amenities and innovative developments. Investing in a luxury property in an area on the brink of becoming the next “it” ‘hood could really pay off.

When it comes to luxury properties of the world’s well-heeled, Provence plays a pivotal role. A house with a story – such as being designed by an influential architect or inhabited by an Austrian Barron in the 1800s – is valuable. See if the home has a feature, a history or a location unique just to it; after all, exclusivity is the definition of luxury.

The one-per-cent can be a private lot, so most true luxury properties come with extensive security systems and sightline barriers. High perimeter walls, expansive cover foliage and a guarded gate are all features found at homes where privacy is a priority. Larger properties usually provide the most protection from prying eyes, so make sure there’s sufficient square footage to keep out peeping Toms.

When touring a luxury property, pay special attention to the building materials, finishes, appliance brands and other coveted design elements. High-end homes feature expensive made-to-last construction materials that are a cut above what you’d find in a mid-range residence. Think Carrera marble, Miele commercial appliances, rare hardwoods and Venetian-glass fixtures used generously throughout, not just in one special feature room.

The special amenities being integrated into a luxury property these days is what really sets them apart. Plush home theatres used to be the height of entertainment indulgence; now, it’s an IMAX theatre. Having a multi-car garage in the city used to be a bonus; now, it’s having a showroom to display a vintage car collection. A wet bar was once a sign of success; today, it’s multiple specialty bars dedicated to one item (e.g. candy or tequila).

This may seem like a no-brainer, but you’d be surprised at how many luxury property hunters overlook the importance of bathrooms. Having an ensuite for each bedroom and a powder room for every public area shows that the designer knows what luxury really looks like.

Shopping for a luxury property can be overwhelming, with so much to consider from square footage to value. Look beyond the listing facts, below the surface – be it Venetian plaster or paneled hardwood – to see if this home has what it takes to qualify.