The value of a home depends on much more than just the size of the house. Houses that have some of the most notable features, like a view, a pool, or a golf course, are worth more than your average home. A home worth a million dollars has certain impressive characteristics, such as size and location. It may also be the home’s close proximity to conveniences like shopping, entertainment, or transportation.
A home that has a million-dollar view can sell for twice the price of a home that is less attractive. The same holds true for homes in some of the most expensive postal codes, which can be worth millions of dollars more than homes in less expensive areas.
Location is a factor that makes some homes worth more than others. People are willing to pay more for a home that is in an area with desirable features like good schools, low crime, and walking distance from the office. The location of a house may be one of the most important factors when determining its value.
For example, golf course homes tend to be worth more money and sell faster than homes in other areas. Golf course lots are usually located close to the fairways, which means the homeowner can enjoy golfing right outside their door.
Greater Square Footage
Larger homes are worth more because they can offer more natural lighting, larger rooms, and an overall better aesthetic appeal. Greater square footage also translated to more rooms, such as additional bedrooms or specialized amenities. If a house has 4,000 square feet, you’re bound to be able to find an extra room or two.
Quality is important for higher-end homes. When a homeowner wants to invest in materials that are long-lasting and sturdy, it usually means they want their home to last forever. Luxury homes use hardwood floors instead of cheaper laminate flooring. They also have solid wood cabinets rather than particle board cabinets that fall apart over time.
An Energy Efficient Kitchen
In luxury homes, they are normally equipped with the latest technology. With energy-efficient materials, these homes can save on electric bills. The kitchen is one of the most important areas to be concerned about as it’s where you’ll be spending the majority of your time at home.
Million Dollar Backyard
Whether it’s for lounging or hosting intimate events, the backyard is undoubtedly an area meant for quality time to spend with friends and family. Even if the backyard is on the smaller side, it doesn’t mean that it has to be lackluster. With the right amount of creativity, you can make the most out of your backyard space.
Distinctive homes rather than cookie-cutter houses may also be worth more. It’s the unique design that earns distinct houses their luxury label, especially if they were designed by a well-known architect.
The best way to see if a house is truly worth $1 million is by stepping foot into it and seeing what sells you on its value. Check out some listings here.