Defining What Makes a Luxury Home in the PNW: 2023 Trends and Expectations
You’re scrolling through home listings, and the description, “luxury home in prime Portland suburb” catches your eye. But just what makes a luxury home?
When it comes to real estate, the term “luxury” is more than just an opinion, or a well-appointed home. However, it’s not defined simply by price point, square footage, or location, either.
We’ll take a look at what trends and qualities you can expect to see in luxury homes in 2023.
Table of Contents
- What Makes a House a Luxury Home?
- 8 Characteristics of Luxury Homes
- How To Find Luxury Home Listings
- Make Your Way to Luxury With PEGGY HOAG REAL ESTATE
What Makes a House a Luxury Home?
It’s true that the notion of luxury is personal — some value niche features like a butler’s pantry, movie theatre or wine cellar, while others consider unique architectural design, storied character, waterfront or views to be the epitome of luxury.
While the definition may be subjective, there are several elements that luxury homes in 2023 have in common.
8 Characteristics of Luxury Homes
#1: Premium Price Point
What number qualifies as a “luxury” home price? The listing price of a luxury home will vary by location, community, features of the home, amenities, etc.
Typically, however, buyers can expect a luxury home to be listed well above the median price point — and value — in any given community. Luxury homes are extremely unique properties, with rare market features, that warrant a higher price tag.
For example, if the median price point of a home is around $400,000, you expect luxury homes to start around the $1 million mark.
#2: Exclusive Location
A luxury home can be built anywhere — but it will always be exclusive.
Typically, you can expect luxury homes to be situated in coveted locations, often within 30–45 minutes of an airport or city, if not within city limits.
Like most aspects of luxury, an exclusive location is subjective. Some may desire a spacious lot within a gated community, while others would prefer a waterfront location, or walkable distance to local attractions, schools, or parks.
In Portland, that might mean a West Linn home close to Tanner Creek Skate Park or Fields Bridge Park or Portland Heights, close to Forest Park hiking trails, Downtown Dining, Portland Art Museum or Willamette Park Boat Dock.
#3: Lavishly Designed Rooms
If you’ve got a big family or love to host, having the space and features to provide your guests with a stellar stay might top your must-have list of luxuries.
Lavishly-designed rooms in luxury homes often include:
High-end kitchens: Professional and/or top-of-the-line appliances, warming drawers, double ovens, walk-in pantries, and a big island, are features you can expect to see in luxury abodes. Standout design choices might include a full wall of windows, glass doors leading outside, and extra features, like a wine cooler, wet bar, coffee bar, and hidden trash/recycling.
Spa-like bathroom retreats: How do you prefer to unwind at the end of the day? If your mind jumps to relaxing in an oversized jetted bathtub or a high-tech shower with a soothing rain shower head and multiple hydro-massage settings, luxury might be right for you. Other amenities may include heated floors, towel warmers, or automatic shades.
Dreamy primary bedrooms: Considering we spend about one-third of our lives either sleeping or attempting to do so, it’s only fitting that a luxury primary bedroom possesses elegant and soothing features. Expect access to tech that makes winding down and waking up that much easier; One-touch automation systems for lighting, security, window shades, and climate control are all possibilities.
#4: Superlative Space
Another tell-tale sign of a luxury home is space — and lots of it. High-end homes often boast:
- Large, multi-car garages
- En suite bathrooms to accompany every bedroom
- In-closet washer and dryer
- Plenty of storage and linen closets
High ceilings, especially in a great room/living room and kitchen, are also a tell-tale feature of a luxury home.
#5: Luxe Finishes
It seems obvious to point out, that luxury homes need to be equipped with luxe finishes. Premium, above-standard materials can and should be used.
In the kitchen, these may include using only slab instead of other surfaces, detailed millwork for built-ins, molding, or window trims.
Outside, flagstone, travertine, or exotic hardwood might be used for decking.
Tech is trending, and throughout the home, you may notice smart technology incorporated wherever possible. The ability to control locks, climate, and lights are just a few of the tech features included in luxury homes today.
Intentional architectural and design choices of reclaimed wood features, leaded glass casement windows, or arched door frames are also likely to be found throughout.
Portland’s historic homes often have handcrafted, one-of-a-kind elements like:
- Crown molding
- Cove or box beam ceilings
- Intricate woodwork
- Elegant fireplaces
- Traditional dining rooms
- Original built-in cabinetry
These unique features and finishes paired with more modern materials are a recipe for luxury.
#6: Niche Spaces
While features like pools and sauna rooms are nice to have, the ones found in luxury homes aren’t quite as common. When you think of niche, one-of-a-kind spaces that only a handful of homes in a market will have, that’s luxury.
When thinking about what makes a luxury home in Portland, think of:
- Detached or conjoined guest quarters
- Elaborate home offices
- Home gyms
- Sauna rooms
- Theater room
- Outdoor kitchens
- Wine cellars
- Arcade rooms
- Indoor basketball courts
- Indoor pools
- Sports bars
The ultimate goal of a luxury home is to design a space so comfortable, thoughtful, and well-appointed that a homeowner never feels the need to leave.
#7: Posh Creature Comforts
Elements that make life that much easier for the homeowners or guests will be thought of, and included, in a luxury home.
Expect features like:
- Smart technology
- Advanced security systems
- Multiple fireplaces
- Heated floors
Each element is designed to invoke comfort, elegance, and ease for the homeowner.
#8: Exterior Grandeur
Unique architectural design (ie. not cookie-cutter), extensively-designed landscaping, a gated driveway, acreage, a beautiful view, waterfront or water views and extreme privacy, all exude grandeur — and therefore, luxury.
When it comes to a luxury home’s exterior, privacy is at a premium. Expensive yards, high walls, and foliage for added coverage are all elements you might find outside a luxury home.
Exterior details also include outdoor living. Luxe al fresco spaces typically include a built-in gas grill, a food prep area, a small fridge for food, big screen, and drink storage, a sink, surround sound, and a combination of built-in or arranged patio seating areas for entertaining.
How To Find Luxury Home Listings
While you can no doubt search popular listings websites, like zillow and realtor.com for luxury homes, there’s a good chance you’ll come up with homes that have a few luxuries, but aren’t quite luxury themselves.
To truly see the best the luxury market has to offer requires the expertise of a local real estate broker.
Peggy Hoag has been helping people buy luxury properties in the beautiful Pacific Northwest since 1991. At PEGGY HOAG REAL ESTATE, we speak the language of luxury and can help you find answers to your questions and address any concerns you may have before making a home purchase.
For this reason, we have created a dedicated luxury webpage that includes, in addition to our team’s listings, all
Pro tip: You can bookmark this page to have up-to-date viewing of new luxury listings as they come on the market!
Make Your Way to Luxury With PEGGY HOAG REAL ESTATE
Our premier team of luxury real estate brokers have closed more than 2,700 transactions in:
- Portland
- Vancouver; and
- The Columbia River Gorge
For over 32 years, PEGGY HOAG REAL ESTATE has helped people buy and sell their luxury homes. With our expertise and market knowledge, we can help make your dream of a luxury lifestyle a reality.