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| Credits to: www.luxurific.com |
Luxury homes represent a niche of the real estate market and are generally reserved for those that are wealthy and high up on the socioeconomic scale. Luxury real estate differs from the ordinary real estate. The value of luxury homes depends on their location firstly as in if they have views or close to golf courses and such. Other factors that influence the value are the presence of other homes, the absence of crime and industrialization, the historical or the architectural appeal of the home and the home itself.
Luxury homes are generally large, with many rooms and that are all lavishly decorated. The gardens may be large, have swimming pools or other such things. The grandeur of the luxury homes affects the value and can push the price upwards.