Luxury real estate is self-explanatory. Real estate where luxurious buildings are dealt with. This can cover bungalows, villas, condos, apartments, penthouses, etc. Even commercial buildings are involved in this field.
What exactly makes luxury real estate luxurious? Many factors like location, size, amenities, and price. Locations of luxurious homes build up the price of the property as they are exclusive and have high land value.
When dealing with luxury real estate or getting to know it, there some certain facts that you should know about it apart from location and price.
1. The architecture of the building needs to have value to call it a luxury home. With upgrade materials and an artistic touch, this home can retain good market value for longer.
2. The reputation of the builder is a noteworthy aspect to do some extensive research on. While some only focus on the product (house/ home) only, when you do know the builder and the interior designer by their previous work, it helps you understand them better and build and see how trustworthy they can be.
3. When you visit the house which you plan to buy, pay close attention to the ceiling height when it comes to bungalows and bigger houses. It should be at least 14 ft high and the ceiling should have a good wide stretch in terms of expansion and strength.
4. Another fact about luxury homes is that they can be designed and constructed with customization or can be customized after the construction is over a well. As their clients are very specific about their needs, they can add or remove certain things and finish it as per the client’s taste. This adds a personal touch.
5. Amenities are a must in luxury homes and this includes gym, swimming pool, jacuzzi, landscapes, gardens, security systems, wardrobes, automation options in and around the house, light and movement sensors around the house, ample parking space, basketball/tennis courts, etc.
6. Since only a handful of buyers are dealing within the luxury real estate circle, the competition is not very high and immediate or impulsive purchase is not a wise idea. Luxury real estate markets do not fluctuate regularly and are still most of the time.
7. Finally, luxury real estate market is crafted and designed as per the customer’s desire where luxury is the focus.
There are other facts and truths of this kind of market that you can read about. An expert in luxury real estate can guide you and help you understand the field better. Most luxury homes start with a whopping price of five million US dollars and goes up from there. Now that a lot of individuals are looking for a high-end lifestyle, this market is seeing a steady rise and more elite houses are being built now for the new and more economically sound generation.