Publication: 99 Acres
May 8, 2020
Luxury real estate has been considered a safe investment for a long time now. Whether you intend to rent or sell the property, luxury real estate provides lucrative returns. Moreover, it is human nature to think of living in a safe, comfortable, and accommodating house that caters to all your requirements. However, there are certain things that a buyer must consider before investing in a luxury house.
When you invest a significant amount of money in a high-end luxury home, you need to pay attention to several small yet important factors. After all, purchasing a luxurious abode is a long-term investment. Here is a checklist of five crucial elements to consider before investing in a luxurious home.
Location, location and location
A dream house without an appropriate location is an incomplete endeavour. Take a walk around the neighbourhood to inspect nearby facilities, including schools, malls, recreational activities, grocery, and medical stores. The location of the property is of prime importance while selecting a home. Talking about neighbourhoods, buying a luxury house in an integrated township allows you to surround yourself with neighbours of similar social and economic status.
While finalising the property, also make sure that the property also complies with the requirements of Vastu and Fengshui.
Do not rely on photos
When buying a luxury home, do not get carried away by fancy-edited photos. High-end properties seldom fail to look impressive in photographs.
A luxury home allows you to be creative. Therefore, you need to decide the kind of exterior you want, the type of interiors you would want to invest in, room requirements, and technological advancements inside your home. Self-inspection is the best way to explore the corners and features of the house. If needed, you can also opt for multiple trips.
Architect and interior
An elegant, innovative, and strong architectural foundation is the key to luxury space. Further, beautiful landscaping, intelligent system, and exquisite finishes add to the charm of the house. Tall ceilings, massive balconies, expansive rooms, and beautiful design are just some of the many things that characterise a luxury home.
Various developers these days are collaborating with international architects to build a house that offers a top-notch look and feel. To be true, architectural plans can affect your mental and physical well-being, causing long-term implications. Thus, the real estate market is witnessing an expansive shift in property designing strategies. The architects and developers have understood the need for designs that focus on well-being along with looks.
A comparative real estate market analysis is a vital step towards investment. Figure out the recent selling price of comparable homes in the same locality or street through various online portals, along with property dealers and real estate companies. It helps to gauge the worth of your new property.
Also, consider the job market, cost of living, and overall economic outlook of that area.
The developer’s past ventures speak volumes about his reputation, credibility, and goodwill in the high-end housing sector. You must review his construction techniques, deliverables, and feedback from previous clients. Additionally, look out for developer’s titles, land papers, and property titles.
Do your research well before finalising the deal. Invest in a luxury property that creates lasting value to get the best return, both personally and financially.