Perspectives is a blog installment in which the OxleyRobert Real Estate Team share their diverse views on a popular issue or trend in real estate.
Looking around at current marketing trends, the word "luxury" has become ubiquitous in many industries; real estate is no exception. And, no wonder - almost any home feature you dream up can become your reality. With so many options, it can be difficult to understand what "luxury" actually means in today's market. To help clarify what luxury means to us, we have outlined our personal definitions of the word "luxury" and identified our list of "must-have" home features to help you navigate current trends.
"Luxury" is all about location. My experience in design and build taught me that if you have the location then you can do anything inside a home to add the interior luxury that best defines you - as an individual - and your family. Whether it is working with a world class design firm like many of our clients do or imbibing luxury through an art collection or buying a home that is completely “done”, luxury is all about where you are when you walk OUT the door and how we feel when you walk IN. So, many of our clients look for homes in key Toronto neighbourhoods in which everything is at your doorstep - from incredible shopping, to world class restaurants, to art and culture that is both classic and contemporary.
Buyers are looking for what I like to call "super luxury." Really, it is luxury that comprises those extra amenities that are beyond expectation. We are seeing this now in boutique condo buildings where they offer personal wine cellars, or dog walking services, or 24 hour valet. The concept of living with all the amenities of a world class hotel like the Four Seasons but having your own home within this context was the beginning of this trend. Many people are looking for close proximity to the city center without having to compromise on a luxurious lifestyle. This joint offering is ideal for that specific buyer for whom luxury is based on having anything they want at a moment’s notice.