Luxury & State Services
One of the areas that saw the most growth was the luxury and estate home market. A recent article in Macleans, citing a document produced by Sotheby’s International Realty Canada, reported that “luxury home sales in most of the country’s biggest cities rose higher than expected”.
A property usually receives the designation of “luxury home” when it meets requirements related to:
° Listing price – luxury and estate homes are typically at least a million and a half dollars;
° Size – luxury homes are at least 4,000 square feet;
° Features – luxury homes may have any number of amenities including pools, spas, or wine cellars (to name just a few).
Your average residential home, especially one that is located in an urban area, does not meet these requirements. It may hit the million dollar asking price, but that is usually due to location; for the most part, these homes definitely do not possess comparable square-footage or amenities. The difference in these types of properties equates to a difference in the type of Home Inspection they need.