Tips on Buying Luxury Real Estate

The best part about a Luxury property is the exclusivity . Unlike an affordable home, you won't have many prospects to deal with while selling Luxury property. So it's imperative that you first generate these leads and then handle them efficiently to closure.

Design

The design must be beautiful yet comfortable. Consider the future of the property. Select one that has high class materials and fine architecture. Choose a floor plan that suits your lifestyle. For example: if you love to dance and do it every day, then look for a floor plan that has a lot of flow.

Resale value

Discuss the factors that will affect the resale value of the home. It is really important to analyze the resale value especially since it is a luxury home and the investment is going to be really big.

Not just the resale value, ponder on the value first and foremost, is the luxury home worth what you are paying? Think carefully and then buy one.

With power comes responsibility. The responsibility of maintaining a luxury home is huge. Think carefully before you buy.

Make a list of facilities. Make a list of the top class amenities that you want in your new luxury home.

• Pool
• Spa
• Gym
• Home theatre
• Children’s play area
• Backyard
• Lovely garden
• Smart appliances
• Entertainment

There will of course be much more in your minds. So go on to make the list.

Is it loan or cash?

Cash is easier to pay than going through the strict mortgage process. You may prefer to pay down cash. Otherwise, you may take advantage of the lower interest rates and keep cash for other investment purposes taking a loan in this case.

Title insurance

You have to get the title insurance so that you will be insured against forgotten problems.

Research the prices of similar properties

Before you make a price offer, ask your realtor to find out the cost of like properties and then proceed with quoting the bid. This will put you in a safe nest. You are neither paying more nor less