There is no predetermined luxury home building cost. There is nothing intrinsically included in the definition of a luxury home that requires that it be expensive. Still, most luxury homes are costly. Size does not define luxury. There are true luxury homes that are only 750 square feet, while many homes of over 10,000 square feet do not qualify. In order to discuss the cost of a true luxury home one must first define what a luxury home is. According to leading architects and realtors a luxury home is defined as follows.
• Built on in Fabulous Location
• Must have Architectural Significance
• Must have a Unique and Recognizable Appearance easily Differentiated from other
• Must provide Comfort and a High Level of Luxury with Decadent Amenities
• Lovely Grounds with Exquisite Landscaping
• Artistic Architectural Details
• Top quality materials and superior craftsmanship
• Similar to other homes in the area
• Located in a Subdivision
• Poorly Proportioned
• Looks like a cheap copy of a much nicer home
• Architecture Lacks Individuality
• Cheap and Flimsy Construction
All this considered, perhaps it isn’t money that makes a luxury home a luxury home. Perhaps instead it is attitude and boldness. As long as you are following the crowd and want a home just like the ones your neighbors have, you will never have a luxury home no matter how much you spend. Building a true luxury home takes talent, creativity and the spirit to break away from the crowd. No one ever built a true luxury home by playing it safe. The task instead requires thinking outside the box to create something truly unique and yet visually appealing.
Even so, there are elements to the description of a luxury home that do cost money. Lots in fabulous locations such as beach fronts and mountainsides usually cost a lot of money. There may be some creative ways around this though. For example, if you had inside information about a fabulous new resort, you might be able to purchase a scenic property near it. Achieving architectural significance is no small feat either. It would require hiring a ground breaking architect of some renown, or perhaps you could speculate on a promising young architect for less cost than one that is already famous.
Luxury homes can sell for thousands of dollars per square foot. Many homes that do not quite qualify as true luxury homes are just as costly. Inversely there are homes that due to their unique qualities or exciting locations qualify in most ways as luxury homes but were not costly to construct at all. These borderline luxury homes have charm, appeal and uniqueness. They are not cookie cutter copies of the house next door and they are respected by those who truly understand what a luxury home is. No one asks what these homes cost to build but it is obvious that if they were on the market for sale they would bring a fabulous price.
While you may not be able to afford all the elements of a true luxury home, you may still be able to get most of them for very little more than the cost of any well built home, plus the cost of hiring a truly creative and innovative architect. In your favor in this endeavor is the fact that today’s true luxury home is smaller than in past decades. Those huge mansions have fallen out of fashion and are no longer considered desirable. Instead smaller homes of between 750 and 2000 square feet are more coveted as true luxury homes. Paying for fewer square feet and packing more luxury and quality into the home instead is the mark of a true modern luxury home. Small details like copper sinks, unique architectural features and unusual carved woodwork can make even a relatively inexpensive home seem like a luxury home. It will come closer to the description of a luxury home than any of the houses in one of those expensive gated communities, simply because true luxury homes do not occur in gated communities full of people trying to fit in.
It is quite possible to have a home that comes close to the description of a luxury home while avoiding luxury home building cost. For more information on luxury home building cost and how to get a luxury home for less, download our 98 page free book and read our other articles about luxury homes.