Top 5 Considerations for Buying a Luxury Main Line Home helps you navigate the home buying process on The Main Line PA with Kimmy Rolph. It can be an overwhelming experience when buying a home; and even more so when purchasing a luxury home; It is a huge commitment in time, money and probably one of the biggest investments you will ever make.
As a Main Line Resident for my whole life, I know the market and know the details of homes in this area. It is very important to know these top 5 things when buying/purchasing a luxury home on The Main Line.
1. Prime location. We always hear location location ,location and well it’s true!!
Location is one of the largest determinants of property value, and luxury homes are built in the most desirable of all locations. On the Main Line these locations are situated in many high-end subdivisions and towns such as Villanova, glad win, Bryn Mawr, and Wayne Pa. Main Line luxury homes have mature wooded neighborhoods with towering trees and premium lots, some are nestled on a stream and some hidden gems are even on a lake. Other considerations can include the best school zones and access to Philadelphia and New York.
2. Higher Price Points
There are neighborhoods that are more coveted, and thus more expensive than others. While luxury homes are often found in these more desirable areas, they tend to be priced even higher than the majority of properties even within the same area.
For Example, Homes along the Golden Mile in Gladwyne, or Ardrossan and Inverary ( IN ve ray) in Radnor and Harrison Estate in Newtown Square in the fourth quarter of 2020 had a median selling price of approximately $1,500,000 while the luxury homes tended to sell well over $2.5 -14 million dollar range.
3. Square Footage
When it comes to luxury homes, size does matter. The greater the square footage, the more luxurious these homes are considered.
In Villanova, the size of the home goes hand in hand with the size of the lot / land. Larger lots can accommodate larger homes.
This allows for greater room sizes, additional rooms, and even space for larger open areas and exceptional large master suites. The depth of the lot allows for amenities such as a swimming pool, Jacuzzi, deck and large outdoor gardens etc.
4. Materials & Finishes
For High-end homes, quality is just as important as quantity. The materials and quality of workmanship should be consistent throughout the home. Otherwise, size will not matter!
Luxury homes use only the finest – think wooden herringbone floors, Italian marble countertops, decorative granite mantlepieces and top-of-the-line stainless steel subzero appliances, custom woodwork, custom kitchen, high-end light fixtures, solid-core doors, and quality handles, etc.
The design of the home is probably one of the important things to look for and can also be very personal and subjective. Is the home traditional, transitional, contemporary or modern. Was it designed by a renowned Architect and how the materials and finishes in the home complement the design.
While luxury homes are located in the most coveted areas in the Main Line, designed with the highest quality materials and include the most outrageous amenities, they’re ultimately only worth what buyers are willing to pay for them. High-end properties tend to sit on the market longer than average-priced homes and there are fewer buyers in the price range and at times the lavish features of the home are incomparable which makes market valuation challenging. If you are looking for a local Main Line Expert to sell your luxury home, we are here to help answer any questions. If you are interested learning more like the Top 5 Considerations for Buying a Luxury Main Line Home, contact us! Kimmy Rolph Sells Luxury on The Main Line and Local Areas.