Amid its ongoing struggles, the U.S. real estate market kicked off the new year with a spike in modern luxury home sales for the third consecutive month. Palm Beach County in Florida saw a USD$72 million sale of a six-bedroom neoclassical luxury home. Back in 2018, the former owner bought the property for roughly a third of the price tag. (1)
The sale is one of several that have defied the market slump that defined the previous year. Brokers are reporting an influx of inquiries for luxury homes in South Florida, particularly for those in Hypoluxo Island, where it posted a 151% price surge last November. One broker said that a third of his calls came from California, which he said used to be just 1%. (1)(2)
Long story short: it’s a buyer’s market right now, at least in South Florida. That said, avoid making the mistake of considering “luxury home” and “high-end home” as the same thing. They may command high prices, but that’s where their similarities end.
Unique Amenities
It isn’t unusual for homeowners to add their personal touches to their homes, be it interior or exterior. Who doesn’t want their home to stand out from the rest of the neighborhood? Simple décor changes or DIY projects are often enough for normal homes.
Not for luxury homes, though.
There’s more to a luxury home’s seven or eight-digit price tag than the property’s size and custom décor. This is where homeowners don’t hold back by having the modern elements they want in a home and more. For example, look no further than the homes of the rich and famous.
- Lady Gaga’s mansion (named “Gypsy Palace”) features a 1960s-style bowling alley and a wine cellar with an 800-bottle capacity, both inside a cave.
- Bill Gates’s home (called “Xanadu 2.0”) is designed as an initial concept for a smart home, featuring an internal server that controls all its appliances and electronics.
- Jay-Z’s and Beyoncé’s home is fit for a VIP, featuring bulletproof glass and advanced security systems that make any threat to their safety think twice.
Such features are rare, if any, in a standard or even high-end home. Apart from usually not having enough space, the structural design may either allow a scaled-down version of the feature or none at all. In building luxury homes, either go big or go home.
Incorporating a standout feature or two in a luxury home requires a thorough floor plan, which is where a luxury build general contractor like HCD Group can help. You’d want design specialists who understand your vision for a custom home, down to the smallest detail, and formulate a building process that can make it a reality.
Bespoke Architecture
When it comes to architecture, high-end modern homes tend to stick to the typical house template as much as possible. Not that there’s anything wrong with that, as long as it has four walls and a roof at the bare minimum. Many suburbs have uniform home designs, though some may allow changes to an extent.
As for luxury home architectural styles, the sky’s the limit. The standard template is still an option, but luxury homeowners tend to push the envelope of what’s practical.
One example is the Horus-Eye Eco House in Turkey (though currently serving as a hotel, it used to be the residence of British model Naomi Campbell). This innovative design is made to look like the Eye of Horus of Egyptian mythology from the air, with the 25-bedroom dome structure forming the pupil. It’s also self-sufficient, running on solar and sourcing rainwater.
An example closer to home is the aptly named Flintstones House in Malibu, California. The design was born out of necessity, as authorities originally opposed building near the Santa Monica Mountains National Recreation Area. The solution was to design the home as if it had been carved from a rock formation, replicating the iconic house from the cartoon. (3)
Although still limited by factors like budget and land area, luxury home architecture is less restrictive than that for high-end homes. Even better if the house won’t be built in a suburb or in one that permits total design freedom.
Calamity Resistance
Living in Florida comes with its share of downsides, not the least of which is that it’s often the first to feel the brunt of a hurricane. The warm waters off the coast are prime breeding grounds that have birthed some of the most destructive cyclones in U.S. history. The most recent is Hurricane Milton, which left USD$34.3 billion in property damage. (4)
It’s a mistake to think that luxury custom home design is all about aesthetics. A significant portion of the budget must go to building materials that can withstand Category-5 hurricanes and other devastating calamities. There’s nothing luxurious about leaky roofs and living rooms knee or waist-deep in floodwater—and spending thousands on repairs.
Material options for custom homes go beyond typical ones like metal. With a larger budget, homeowners can afford premium but more durable options like concrete or composites. Homes built in areas prone to flooding or storm surges may opt to elevate them on stilts or earthen banks and invest in a thorough drainage system (or both).
A Step Up High-End Homes
Luxury homes are high-end homes, but not all high-end homes are luxury homes. They cost more to construct, owing to their unique design and amenities, but can command a higher market value. When built right, they’ll last through the times.
