How large should the property housing your new luxury home be? There is no one-size-fits-all answer to this question. Instead, each buyer must weigh a variety of factors to find the right answer for their circumstances. Here are a few of these key factors to help you make your call.

1. Lot Sizes in the Area

A large and luxurious residential property is often defined in terms of what's available and what's average in its area. A few acres in Southern California could be just as grand or rare as hundreds of acres in Montana or Wyoming. The key to determining what to look for is to understand the expectations and reality of your chosen location. 

2. The Perimeter Views

What do you see when you look around the property? A lot with large trees, full fencing, and an overgrown perimeter could feel smaller than it really is. On the other hand, if you can look out from your deck to watch the sunset over the Pacific Ocean, you may need very little space to enjoy the spacious views. 

3. Size of the House

How large is the house? Is it likely to fill all your needs most of the time? If so, you may find that a spacious yard is underutilized. On the other hand, if you plan to augment the square footage of the home with a large multilevel deck, outbuildings, or outdoor cooking and dining spaces, the extra room is well worth the cost. 

4. How You Use the Outdoors

Analyze your actual use of outdoor spaces. Many buyers assume that they want lots of land around their house, but don't forget that this is an added cost and requires more care. Do you actually use this space enough to warrant the extra effort and investment? If you would primarily use a nearby outdoor entertainment zone, you might spend the extra money to build a great one rather than buy more land. 

5. Your Privacy Needs

Finally, how much privacy do various sizes give you? The farther you are from neighbors, streets, and surrounding businesses, the quieter and more luxurious your life is likely to be. But a smaller property could make up for its size by hosting many soundproofing elements like mature trees and greenery borders. 

When you honestly assess your actual living style, the specific elements of the property, and what you want from it, the right size will become clear. Learn more about property choices in your area by meeting with real estate agents, such as Susan and Bradley Mohr: S&B Real Estate Group, in your area today.