Luxury homes are beautiful, elegant, and give off a sophisticated vibe, so it’s no wonder that they appeal to so many people. But luxury also tends to come with a hefty price tag, one that deters many homeowners from spending their hard-earned money.
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With that being said, certain luxury home upgrades are worth the money. Even if many of them cost thousands or tens of thousands of dollars — if not more — they can more than make up for themselves in the value they add to your home and your life.
Brett Johnson, a real estate investor with New Era Home Buyers, suggested splurging to create an outdoor oasis. Here are a few ways to do this and the estimated costs:
Add a custom-designed patio — $2,000 to $14,000
Install an outdoor kitchen — $3,200 to $10,000
Put in a luxury fireplace or fire pit — $2,000 and up
Landscaped garden — $1,258 to $6,031
“Landscaping can not be underrated and in a luxury property it goes way beyond basic lawn care. High-end landscaping incorporates features like lush gardens with established perennials, ornamental trees, intricate hardscaping, elegant masonry stone walls, elaborate hedging, and elegant outdoor living spaces, complete with integrated lighting and firepits/fireplaces,” said Angelica Ferguson VonDrak, licensed associate real estate broker at Four Seasons Sotheby’s International Realty.
“The sky is the limit when it comes to what you can spend on landscaping, but I would recommend budgeting at least $10-20K to get something really nice started,” she continued. “Well-maintained landscaping showcases attention to detail and contributes to a sense of prestige and exclusivity — it means the difference between hundreds of thousands of dollars in a valuation sometimes.”
Smart Home Automation
A smart home automation system can improve your home’s energy efficiency, security, and overall convenience factor. You can install quite a few different things here, including door locks, security cameras, smart lighting, smart thermostats, window treatments, and music and entertainment systems — all of which are controlled through a central hub or app.
“The cost can vary depending on the size of your home and the complexity of the system, but you can expect to pay upwards of $20,000 or more for a high-end setup,” said VonDrak. “Many buyers love smart home upgrades like security cameras, alarms like moisture alerts or septic system alarms, which can all provide peace of mind when you’re not living in the home full-time and may be away for long stretches of time.”
Outdoor Pool or Spa
If you have enough land and want to add in some outdoor pools or spas, the cost could well be worth the increased value — and comfort — you get.
“Most of the highest-selling luxury homes in the Hudson Valley have pools, hot tubs, saunas and/or steam rooms,” said VonDrak. “These amenities are so desirable that they could add hundreds of thousands of dollars to a property’s list price. It makes a lot of sense to spend $150K on a beautiful pool setup when it could add twice that much to your home’s value!”
Luxury Bathroom Remodel
Another luxury home upgrade Johnson said is worth the cost is a bathroom spa.
“Treat yourself to a spa-like oasis right in your own home with upgrades like a spacious walk-in shower, soaking tub, heated floors, and sleek fixtures,” she said. “It’s the ultimate indulgence that can turn your daily routine into a pampering experience.”
As for costs, HomeAdvisor found that a luxury bathroom remodel costs anywhere from $4,000 to more than $22,000. Costs vary greatly due to project complexity, square footage, the materials used, and labor costs.
Luxury Lighting Solutions
Whether it’s a dining room chandelier, a foyer pendant light, or a living room floor lamp, adding some luxurious lighting solutions to your home can add great appeal and value.
“Lamps and lighting fixtures are the most important elements that tie any interior design style and theme together. The average homeowner will purchase and keep a chandelier, pendant lights and floor lamp for decades,” said Albi Serfaty, co-founder and creative director at Aqua Creations Luminary Design Studio.
“Light impacts productivity, mood, and environment, so it is important to make the right decision to keep one’s home a relaxing sanctuary,” Serfaty continued. “If you’re going to see and interact with a chandelier and floor lamp every day for the next fifteen to twenty years, it’s worth investing in a quality lamp that you truly love.”
Serfaty suggested budgeting a few thousand dollars for a high-quality chandelier that’ll last several decades. Handmade silk pendant lights start at around $1,200, depending on the size and number of fixtures attached to the chandelier. Other lighting options can vary widely based on the design and what you prefer.
Touchless Faucets
Touchless faucets are one of those small luxuries that add a lot to your day-to-day. Depending on how many you need, and whether you need someone to install them for you, expect to spend several hundred or thousand dollars on these.
“They may or may not add value to the home depending on potential buyers, but they most certainly add value to the cleansing experience,” said Deborah Lamberton of ASAP Restoration. “It may not seem like something that you would use all the time, but as soon as it’s installed, it’s one of those amenities that you’ll never want to live without again.”
Heated Floors
Heated floors add a touch of comfort and luxury to any home. According to Angi, they cost anywhere from $1,700 to $6,000 to install, depending on the square footage and system type.
“While heated floors, or radiant heating isn’t right for every home in every climate, for the places where it works, it really works,” said Bethany Uribe of ASAP Restoration. “Especially in the colder regions of the country, radiant heating can absolutely add a huge amount of value to a home, though it may take a bit to recoup the expense if installing one into an existing property.”
