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What Do Luxury Home Buyers Look For In A Home?

Aug 15, 2023 | Buyers

Successful people often spend a lifetime working hard to achieve their goals. Few things in life offer the level of satisfaction of watching them become a reality, and buying an upscale home is among the most celebrated milestones anyone can ever experience. New surroundings offer every comfort and convenience while providing the perfect place for relatives and friends to gather to laugh and celebrate together.

What does the process of buying premium real estate look like? In this post, we’ll talk about the who, what, why, where, and how of finding just the right house.

Choosing Quality Over Trends

Many people believe that bigger is always better when it comes to luxury homes. They may flip through magazines showcasing the houses of the rich and famous and dream of living in a spacious mansion with every opulence and decadence imaginable. However, serious buyers usually have different priorities.

Everyone has a different idea of what “luxury” means, but for a discerning buyer, it almost certainly entails more than a home being massive and flashy. Instead, they’re searching for unique architectural style, quality of workmanship and high end materials, upscale features and finishes not commonly found, beautiful surroundings, and a place where they can truly feel comfortable in their own opulent space. 

For some buyers, their dream home may very well be lavish and majestic. Or it may mean something with undeniable character and a quality of artistry expected in a finely-built home. Individual goals may vary, but in most cases, substance will matter more than trendiness. With this picture in mind, we can begin to narrow down the options.

Part of the luxe experience is about decorating your home to match your personality and style. The resources below will give you some inspiration:

Determining the “What”

Accomplished individuals understand the importance of setting goals and planning for success. Buying a luxury home is no different! Our first step is to create a vision that brings the finer details into focus. As with many goals, the clearer the vision, the more likely it will happen. 

Starting with a buyer’s passions can be a fantastic first step. For example, if someone loves to cook, a fabulous gourmet-sized kitchen with custom millwork, marble counters, and high end integrated appliances may be something to add to their “must-have” list! Upscale finishes and details should transcend from room to room to encompass the entire property with a cohesive and luxurious feel throughout, whether modern, transitional or European in style.

Exterior living spaces are often high on the priority list for luxury buyers where they can carve out their own outdoor paradise. Nature lovers may love a home that backs onto a ravine or overlooks a golf course, or at least has an expansive lawn with space for a customed-designed swimming pool, spa, or other luxurious feature. Abundant outdoor living spaces means there is always an elevated place, indoor or out, to rest, unwind, or enjoy a few hours laughing and entertaining friends.  

Many discerning buyers also have privacy in mind when searching for a home that’s just right. Custom-designed fences or manicured landscaping can provide beautiful and absolute solitude whenever they feel the need to get away from it all. Coming home to the latest and greatest in home automation and unique features like indoor spas, simulated golf courses, and indoor/outdoor lounging areas feels like having their own private oasis. 

Understanding the “Why”

For each feature that feels like a “must-have,” there will be a reason for it. That reason will help buyers gain clarity and get to the heart of what they really want. It can also help them stay flexible and open-minded when exploring the possibilities.

For example, imagine someone searching for a bigger home. Why? Perhaps they need more space so everyone can get ready in the morning without trampling each other. Now we know that extra bathrooms or square footage might be a priority.

What about a buyer looking for a lifestyle that is carefree and convenient? In that case, a modern, upscale condo in a building with a concierge and 24/7 service might check off all the boxes.

Knowing “When” to Act

The housing market can be competitive depending on the market conditions at the time, especially in the GTA. The demand is slightly less intense for high-end homes since fewer people are searching for them. However, there may be fewer homes that check off all the boxes depending on the search location, therefore we may need to be patient for the right home to become available.

If time is of the essence, a detailed plan is essential, and industry connections can be invaluable. A real estate agent with a network of agents who are also trading at a high level can provide priority access to listings that may not be on the open market.

What happens if a discerning buyer cannot find a home that fits their specific architectural style and tastes? Once again, there is no need to settle for anything less than the best. Many older and smaller homes are constructed on lots wide and deep enough to tear down and rebuild their dream home, providing the opportunity to choose all design details and interior finishes they could ever hope for. These mature areas often come with built-in landscaping, with abundant trees and foliage that are hard to find in new developments. 

What about those who are searching early and have plenty of time to find just the right home or are seeking a lifestyle change to a more urban location? A builder pre-construction community may be a good fit for those that may prefer a more cost effective means of a new build over a fully custom home. 

The GTA has plenty in development, including a selection of upscale condos, executive townhouses as well as some beautifully designed luxury single-family homes.  The more time there is to spare, the more discerning buyers can be with their search. 

Research the “Where”

Location matters in real estate, especially when searching for an upscale home. With a healthy budget, a homeowner can renovate and mould an unsuitable house to their needs.

But all the money in the world cannot fix an undesirable location. Before buying, it’s important to think about the lifestyle and access to amenities a potential property offers. Consider the following:

  • If a quiet life surrounded by rolling lawns and greenery is appealing, an estate in the luxurious Oakville neighbourhood of Morrison could be ideal.
  • Buyers who prefer life in the fast lane might find themselves perfectly at home in Toronto’s trendy Yorkville neighbourhood or the lush greenery of Rosedale.
  • For those who would love a home somewhere in between the bustle of Toronto and the more laid-back town of Oakville could find a match in Mineola or Lorne Park in Mississauga, both of which offer luxurious homes amid all of the conveniences of the city.

When buying a high-end home, location reigns supreme. Here are some fantastic options to explore:

Contact a Realtor® Well in Advance

It isn’t necessary to wait for in-person visits to select a real estate agent. A local expert brings vast expertise to the table right from the early stages of planning. Our knowledge and many industry connections save valuable time while negotiating the best possible terms of the purchase.  

As an added bonus, we have the latest details on new, exclusive, or otherwise hard-to-find listings. In a tight market, the right agent can mean the difference between finding an “okay home”, no home at all, or “the home”, the one that feels custom-built just for you!

Tanya Crepulja is a top agent at Keller Williams Luxury, the boutique division of the largest real estate company in the world. Learn more about our affiliation with Keller Williams and why we are the go-to choice for luxury buyers in Toronto and the West GTA. 

Are you ready to begin the search for a luxury home in Toronto or the west GTA? Get in touch at tanya@tcteam.ca or call 647-293-3785 for more information and to begin your luxury home buying journey.