What Makes a Property Stand Out as Exclusive Realty?
Exclusive realty means very special and high-quality homes. These homes are different from regular homes because they have unique features, are very beautiful, and often cost a lot of money. Not everyone can afford these homes, which makes them special.
Presently, the purchase of luxury homes in Canada has increased rapidly by double digits. According to a report by RE/MAX Canada, the end of quantitative tightening is making this happen. People are now more interested in buying these special homes.
Now the question arises what features make them set apart from other properties? Let’s find out!
Current Status of Canada’s Luxury Realty
RE/MAX Canada’s 2024 report looked at luxury home sales in 10 Canadian markets early in the year. Almost all regions had a strong start, with 90% seeing more high-priced homes sold.
Saskatoon had the biggest increase at 57%, followed by Montreal (56%) and Calgary (52%).
Below is the graph showing the luxury housing sales in Canadian markets from January 1 to February 29, 2024.
For more information, click here.
What are the Key Factors Contributing to Making a Property Exclusive Realty?
Here are some of the key factors that make a property exclusive realty:
- Prime Location
Where a property is located is very important. A good location makes a property worth more. People want to live in nice and convenient places.
Some places in Canada are very popular. For example:
- City Centers: These are the busy parts of big cities. For example, downtown Toronto, Vancouver, and Montreal. These places have many things to do, like restaurants, shops, and entertainment. That’s why they have a large number of exclusive property sales.
- Waterfronts: These are places next to lakes or oceans. For example, properties near Lake Ontario, English Bay in Vancouver, or the Halifax waterfront. People like to live near water because it is beautiful and peaceful.
- Upscale Neighborhoods: These are areas where rich people live. For example, Westmount in Montreal, Yorkville in Toronto, and Shaughnessy in Vancouver. These areas have clean and safe streets. The houses in these regions often come under the category of exclusive realty.
Moreover, it is good if a property is near important places. These are called amenities. Some important amenities are:
- High Prices
Another key factor that makes a property an exclusive realty is its high price. Let’s talk about why some properties cost more.
- Location: Homes in famous cities or top-notch neighbourhoods cost more. For example, a house in downtown Toronto will be more expensive than one in a small town.
- Size: A large house with many rooms and a big yard will often have a higher price than a small apartment.
- Amenities: Special features make homes more valuable. This includes things like swimming pools, home theatres, big kitchens, and fancy bathrooms. The more features a home has, the more it costs.
- Market Trends: Sometimes, the market also affects property prices. If many people want to live in a certain area, prices go up. For example, luxury homes in Vancouver and Toronto come under the category of exclusive realty and are very expensive because lots of people want to live there.
- Luxurious Features
Having luxurious features also makes a property an exclusive realty. Let’s talk about what these features are and why they matter.
Luxurious features are special things that make a home more comfortable and fancier. Examples include:
Imagine having a spa-like bathroom to relax in after a long day or a big, beautiful kitchen to cook in. These features not only make life better but also increase the property’s value. People are willing to pay more for homes with these special features.
The materials used in the home also contribute to making homes fall under the category of exclusive property sales. High-end finishes like marble countertops, hardwood floors, and custom cabinets make a home look and feel more luxurious. These materials are more expensive and last longer.
- Unique Architecture and Design
Unique architecture and design, with custom features and exceptional craftsmanship, also make a property an exclusive realty. Different styles like modern, historic, and contemporary add to the uniqueness, making these homes stand out and be noticed by everyone.
Here are some of the examples of unique architectural styles:
- Privacy and Security
People who buy from the list of exclusive property sales often want privacy. They don’t want neighbours too close or people being able to see into their homes. Privacy gives them peace and a sense of being safe in their own space.
Here are some of the features that enhance privacy:
- Large Plots: Properties with a lot of land around them mean neighbours are farther away. This keeps the property private.
- Gated Entrances: Gates at the entrance of the property keep unwanted visitors out. Only people who are invited can come in.
- Secluded Locations: An exclusive realty in secluded locations, like in the countryside or on a hill, are more private because they are away from busy areas.
- Security Cameras: Cameras around the property can see and record what happens. This helps in keeping the property safe.
- Alarm Systems: Alarms can alert the owners and security if someone tries to break in.
- Security Guards: Some exclusive properties have security guards who watch over the property and keep it safe.
- Historical Significance
Another major factor that makes a property an exclusive realty is its historical significance. A property with historical significance is one that has an important history. This could be because it was built a long time ago, or something important happened there.
Here’s how history adds value and exclusivity to the property:
- Unique Stories: A property with a unique story or past is more interesting and special. People like owning a piece of history.
- Architectural Beauty: Historic properties often have beautiful, unique architecture that you don’t see in modern homes.
- Cultural Importance: These properties can be culturally significant, representing a piece of the past that people want to preserve.
Historical significance makes a property exclusive because it connects the home to an important past. People value the unique stories, beautiful architecture, and cultural importance that come with these properties.
Some of the examples of historically significant properties are:
- Old Castles or Manors: These properties are very old and were often home to important people.
- Historic Landmarks: Properties that are recognized as important by history organizations.
- Famous Homes: Homes where famous people once lived.
Conclusion
In conclusion, many things make a property stand out as an exclusive realty.
These include a prime location, high price, luxurious features, unique architecture and design, privacy and security, historical significance, and more. These factors are important in the real estate market because they make properties special, attractive, valuable, and finally ‘exclusive’.
