Homes come in a wide range of styles and types - single-family vs. duplex, stick-built vs. modular, condos vs. townhomes, farmhouses vs. mountain modern. Among these classifications, a commonly used yet often debated term is “luxury”. So, what differentiates a “luxury home” from others in Durango, CO?
Size
Homes in La Plata County range from tiny homes and mobile homes as small as 120 square feet to estates exceeding 19,000 square feet. Nationally, luxury homes are typically 5,000 square feet. In Durango, the primary city in La Plata County, homes tend to be smaller than in major metropolitan areas, so luxury can start around 3,000 square feet. That said, square footage alone doesn’t define “luxury”. Many homes under 3,000 square feet still qualify based on location, finishes, and amenities. A well-designed 2,000 square foot home on a prime lot with high-end finishes can be just as luxurious as a larger home without those features.
Amenities & Finishes
The amenities and finishes of a home are a significant part of what makes it “luxury”, though this is also subjective. Typically, newly built or renovated homes tend to have modern finishes and updated layouts, creating a more retreat-like and high-end feel. Durango, established in 1880, has many historic homes that may have once been considered luxury by definition but tastes and standards have since evolved. Colored shag carpet, pedestal sinks, and brass finishes have been replaced by today’s luxury staples including stainless steel appliances, gas fireplaces and/or energy efficient HVAC systems, vaulted ceilings, main level primary ensuites (and possibly additional ensuites), soaking tubs, and heated garages. Extra amenities such as hot tubs, additional outbuildings, expansive views, water frontage, irrigation, and ADUs (accessory dwelling units) can add value and make a home more desirable to potential buyers. Items such as faucet finishes, light fixtures, and paint colors are easier to change to suit the owner’s preference; however, minimalistic black and gold fixtures with monotone and neutral colored walls are currently seen as more modern in today’s market.
Location
Durango’s neighborhoods and subdivisions offer a mix of luxury and standard homes. Some people prefer HOA-managed neighborhoods that include landscaping, snow shoveling, and other maintenance, while others consider privacy and acreage to be their definition of luxury. While many homes in town are within a few miles of conveniences and community amenities like grocery stores, restaurants, and trail systems, some buyers prioritize mountain retreats or golf course communities over accessibility.
Durango features a blend of historic renovated and newly constructed homes. Older neighborhoods like The Grid, SoCo, and the West Avenues are home to some of Durango’s original homes, dating back to the late 1800s. Some have been maintained and preserved as historic homes while others have been renovated or completely torn down and rebuilt. Newer neighborhoods like Edgemont, Glacier Club, and Twin Buttes offer more modern and luxury options.
Price
List price plays a part in defining luxury to the consumer; RealtorsⓇ take the size, amenities, finishes, and location (amongst other factors) into consideration when pricing properties. There has long been an assumption that homes priced over $1,000,000 represent a luxury home, however this is not always an accurate representation, especially in La Plata County. In real estate, the general rule of thumb is that the top 10% of the market is considered luxury. In 2023 and 2024 in La Plata County, this number was $1,450,000, a substantial increase from the $1,000,000 mark that represented luxury in 2020 - 2021.
Ultimately, there isn’t a single defining factor that makes a home “luxury” - it’s a combination of size, amenities, location, finishes, and personal preference. If you’re interested in buying or selling a luxury home in Southwest Colorado, contact The Durango Team at The Wells Group for information, we are here to help!
Start your “luxury” home search by price here.
