As a contractor for a luxury home remodeling company in Southern California I can tell you first hand that for those on the high end of the market, money is truly not an object.
What Dollar Level is Luxury Remodeling in Southern California?
High end remodeling projects in Los Angeles, Orange County and San Diego usually start around $1.6 million dollars. Why is that the magic number? Well you will find many "new riche" homeowners that simply want to say that there home cost $1,000,000.00. While getting a million dollar home is nothing to sneeze at, these homeowners usually don't have the means to fully customize their home as they are more focused on making a mortgage payment. These buyers usually accept standard ammenities put in by the builder contractor or purchase home that are move in ready, adding small design pieces like art work, furniture and photos as they move in. You will find some of these homes on popular Do It Yourself or Home and Garden Cable shows. As the make my house over applies to those that can't afford to have their home customized in the first place.
What happens to Luxury Homes at $1.6 Million Dollars?
At 1.6 Million Dollar level, you will find home owners that are in their homes for the long term or homeowners that are so wealthy, any given home is there vacation home. It is said that when purchasing a new home, a buyer should set aside 10% of the purchase price to decorate, furnish and add upgrades to their home. What could you have completed to your home for $160,000? Well a lot. For starters:
Appliances:Luxury Homes usually demand high end appliances like those made by Viking, Marvel, Electrolux. Imagine spending $8,000 for a kitchen stove or $4,000 for a microwave. I have seen it done and those are entry level prices.
Flooring:
When a contractor deals with luxury homes you will find that custom is the name of the game. About the only thing these jobs can pick up from Home Depot are backerboard, glue and grout. But what happens when the African hardwood your cleint wants for their home that costs $22 a square foot, only bonds with Organic glue? You have to go out and purchase the organic glue for $400 a container. That's lie in the ultra luxury remodeling business.
Paint:
Again you won't be able to go to Lowes and purchase paint supplies, maybe primer but at the high end home owners are more conscious and today they tend to demand things like paint that is eco friendly and or chemically void of dangerous toxins.
Going forward I will highlight specifics of the super rich and their demands for their home renovation projects. Imagine being told to remove 1000 square feet of Italian marble floors, less than 2 months old, because it clashed with the color of the homeowners new stainless cooper appliances. Yes my friend, this can and does happen all the time.
In contrast, just remember that Luxury Home Remodels demand things that you find on the cable tv networks. Money is not object and these owners can be very undecisive and what looks great today is not so great tomorrow.
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