HomeSmart, Evergreen Realty
Frank Velasco, HomeSmart, Evergreen RealtyPhone: (714) 478-8747
Email: [email protected]

Luxurious Neighborhoods in the USA

by Frank Velasco 06/21/2020

Image by skeeze from Pixabay

When looking for a luxury home, you can look for the most expensive neighborhood in the United States, or you can choose a luxury neighborhood in the part of the country you want to live in. Before you move to a different state, be sure you'll like the part of the country you choose.

Luxury Home Price Variances

Depending on where you choose to live, the cost of luxury varies — and it varies widely. You’ll find luxurious neighborhoods in Rapid City, South Dakota for a median price of $242,200. The most expensive luxury neighborhood is in zip code 94027 — Atherton, California. This luxury neighborhood has a median home price of $7,313,400.

Other luxury neighborhoods include:

  • 96821 — Honolulu, Hawaii, with a median price of $1,370,900;

  • 85253 — Paradise Valley, Arizona, with a median price of $1,588,200;

  • 60610 — Chicago, Illinois, with a median price of $1,885,900;

  • 06830 — Greenwich, Connecticut, with a median price of $2,056,900;

  • 33921 — Palm Beach, Florida, with a median price of $4,394,000; and

  • 81611 — Aspen, Colorado, with a median price of $4,869,200.

  • You can live in a luxury neighborhood for less money if you choose a state with a lower luxury median price. You’ll find that the cost of living is also less in those states. However, make sure the area you choose has the amenities you want. If you are expecting to have theme parks, upscale shopping and other amenities, you might want to choose a larger city, even though the median luxury price is much higher.

    What to Look For in a Luxury Home

    In some cases, luxury costs under $300,000 – and in other cases, it’s not luxury until you hit several million dollars. Regardless of the median luxury home price, always check what prices homes sold for in the neighborhood and the quality of the materials used to build the home. Other items to check include:

  • Are the appliances upgraded?

  • Did the builder use high-quality fixtures, including faucets and toilets?

  • Are the cabinets real wood?

  • Is the flooring top quality tile, wood or some other covering?

  • Is the carpet high-quality or “builder’s quality?”

  • What kind of windows are in the house? Are they at least double-pane windows?

  • Is the trim in the house made of real wood, stone or some other quality material?

  • Is the yard well-maintained?

  • Does the house have large bedrooms and closets?

  • Does the house have extras, such as a pantry, bonus rooms or a pool?

  • When you check for comparables, don’t forget to allow for those extras. The home you are looking at might not have the same amenities as another home in the neighborhood that is going for the same price. This leaves things open for negotiations if not having something, such as a pool, is not a deal-breaker.

    About the Author
    Author

    Frank Velasco

    With over 20 years of experience in the Real Estate Industry, 10 of which were directly working for a

    Mortgage Lender, Servicer, Title Insurance Company, and Escrow Company. Well rounded in

    knowledge and experience of the complete transaction from start to finish. The purchase or sale of a

    home for most people is the biggest investment or sale that they will make in their lifetime; my

    knowledge in Finance and Accounting is an added plus to my clients. I am a Real Estate Consultant, not

    just a Real Estate Agent. Committed to providing the best service possible. With a complete team of

    professionals working for you. Serving the Orange County Area, specializing in the City of Tustin,

    Orange, and Irvine. I take my designation as a Realtor very seriously and uphold its professional

    integrity standards to its fullest.

    Using the latest technology allows my team and me to provide you with the latest up to date Real Estate

    Market information. Providing professional, personalized service allowing for a successful Real Estate

    transaction.

    In the 36 years of living in the Orange County area, I have seen not only the growth of the Orange

    County Real Estate market, but also the change in one of the greatest areas to live in the country.

    Whether your planning on buying, selling, or have a question feel free to contact me.

    Affiliations:

     National Association of Realtors (NAR)

     California Association of Realtors (CAR)

     Pacific West Association of Realtors (PWR)

     National Association of Hispanic Real Estate Professional (NAHREP)

     B.S. Accounting (SDSU)