Luxury Homes Today

Luxury Homes are expensive homes that are mostly owned by higher ranking people or well known people in the society. The characteristics that define luxury homes vary among countries because it depends upon the marketing status of each place as well as the property values that also depends on its location.

The classification takes into account the presence of surrounding homes, views, waterfronts, amenities, peacefulness of the place, commercialization, customizations of the home, and historical or architectural significance. The better the location is, the more the house can be classified as greater value.

Luxury houses are spreading, making the luxury home market booms. Companies operating in the luxury real estate market usually publish their own magazines online and in print in order to reach more people to publicize their brands.

Luxury properties usually begin in the low millions and go upward from there. However, luxury home buyers are not very particular with the prices; they are more focus on the quality of the house and its location. They typically understand that a home is the best possible personal investment so they should do their best to choose the best home for them.

A home right by the sea is many people’s dream but if you choose to buy a luxury house near the sea anticipate the consequences ahead of time. Thus, remember these key factors before looking those ads for luxury homes.

Sea water is naturally salty, combined with the windy or stormy environment near the sea are bad for houses and also not good for cars. So having a house right by the sea requires a lot of effort in frequent house and car cleaning activities. The house and the car should be kept clean to get rid of the salty substances brought by the air. Unfortunately, even without stormy weather, the sea air has still enough salt to cause erosion on houses or cars.

Having a luxury home comes with high maintenance and upkeep. Thus, if you have enough money to buy a luxury home but you do not have enough money to maintain. It is more preferable to suspend your dream of buying a home because without maintenance your luxury home could wear out.

Certainly a luxury house is not for everybody but for those who have enough money for buying and maintenance. No worries if you are one of the rich and famous people in the world, it is probably the good time for you to begin searching that elusive luxury house for you.

All You Need to Know About Luxury Homes

When we talk about luxury homes, what strikes our mind? Lavishness, magnificent, grandeur and of course pricey. Owning a luxury home is not just a status symbol, it’s about enjoying the comforts of one’s life you could think of at your own space called home. Often the term “Luxury Homes” in India is used to lure people into buying projects that are of course not so luxurious. Offering just more than the basic amenities does not come under the term luxury. Luxury homes have a whole lot of special features that highly distinguishes itself from other properties. So before you fall into the trap of the real estate agents, suggest you look into some of the major features that highly speak of luxury and luxurious homes.

SPACE
This is the very first thing that defines a home luxurious. For a housing property to be termed as luxurious it should be at least a 3BHK with attached washrooms and balconies. Ample of space is required to accommodate life’s luxurious amenities. So a huge hall, a lavish dining space, and an expansive kitchen form an integral part of the entire luxury property definition. Don’t forget to look for an attached servant’s room to the residential unit you are looking to add as a luxurious property to your status.

LOCATION IS THE KEY
Believe it or not, location does play a very important role in defining how luxurious your property is. Look for a location that has good connectivity, is marked as safe, is riot and crime free zone, has excellent infrastructure around the property in terms of wider roads, less traffic, more greenery, highly clean etc.

Read – Important Aspects That Define A Luxury Home

FLOOR-TO-CEILING HEIGHT
Luxurious homes are also about beautiful ceiling art and accessories. For the ceiling to hold lavish chandeliers and lights, the height of the floor to ceiling should be more to accommodate the luxuries. For a home to be termed as luxurious, it should meet the standard floor-to-ceiling height i.e. 12 feet or more. Agree or not, if this criterion is not meet then your property does not fall under the luxury tag.

ELEVATOR
Big and spacious elevators with good carrying capacity is an added feature of a luxurious property.

HIGH SECURITY AT YOUR PROPERTY
In today’s not so safe and unstable environment, one must consider making your home as much secured and safe as possible. See whether the property offers inbuilt and enhanced state-of-the-art modern security facilities pre-installed in the house. The house should also be guarded with human guards around the clock with cameras and other surveillance units installed at every corner of the property for enhanced security.

The above-mentioned points are some of the key features of a luxury home. So, the next time you go to look for a luxury home, keep these features in mind so that you are clearly not tricked by the agent to buy a mediocre property in the name of luxury amenities.

With the rise in the economy and exponential growth of wealth among the people, demand for luxurious houses and properties is on the rise. So to fare well in this competitive market, real estate developers are constantly innovating in the architecture and incorporating high-end technologies and innovations to build projects that are capable of attracting niche buyers. Thus the market for such luxurious houses is expected to grow further in the year 2017.

Realize Your Dream of Owning a Luxury Home

When we walk around an elite neighborhood comprising of country estates, elegant mansions, and chic penthouse condominiums, the dream of owning one such real estate is rekindled at the bottom of our minds. Like me, you must also have asked a question to your mind – who are the people who buy these stylish homes? What are their income and lifestyle profiles? Let us explore all these questions in this article, and provide you some useful tips for buying a luxury home in case you decide to buy one.

The profile of a luxury home buyer, as discovered by a survey conducted by a banker is as follows:

• 31% pay full cash at the time of purchasing the house.
• The predominant buyers of luxury homes are top executives of big corporate houses.
• 67% of the buyers belong to the “baby boom” generation (between ages 35 and 55)
• 88% of the luxury home owners are married.
• If you think about luxury home amenities, then designer kitchens come up as the first priority area.
• 89% of the luxury home buyers want their dream home to contain a minimum of four to five rooms.
• Nearly half of the luxury homes sold have an area between 4000 to 6000 square feet.

Let me now provide you some useful tips that might come to your help if you plan to buy your own luxury home.

When you are targeting a new luxury house, talk to your potential neighbors first. Try to dig out information from them about the problems they are facing. Simultaneously, also ask them about the amenities they are enjoying in their neighborhood. You also need to possess a copy of the current homeowner’s association rules, regulations and guidelines. The association rules of upscale neighborhoods generally have strict guidelines such as, home color, and the number of cars that can be parked in your driveway.

You need to check out the local zoning laws as well. It is a very important consideration that your home should be protected from township developments such as creation of a new super market, or a commercial office building. In a nutshell, try to gather as much information as possible about your neighborhood. This will enable you to quickly adapt to your new neighborhood.

While comparing two or more luxury homes, do not depend on their photos only. There are many beautiful and large homes that are not that photogenic and you need to see them in person to admire.

You need to have a good agent who can assist you in the purchase of your dream luxury home. The agent should be familiar with the area of your target home. If you are eyeing a high-end property, then you might face certain restrictions to get access to them. Your agent can be the mediator in those cases. As the stake in a luxury house is quite high, your agent should be thorough and professional enough to seal the deal in your favor. The agent should be able to negotiate with financial institutions and lenders to make the home financing process a little easier for you.

Sometimes, bank can provide you some useful information about the luxury homes that are up for sale. If you have a bank that has attached a relation executive to you, approach him or her. They usually have a portfolio ready for luxury home buyers. Learn from them the difference between a pre-approval letter and a pre-qualification letter. To obtain finance from the bank, you need to keep all your financial documents up and handy. In this niche, high-end market, you should be able to show your proof of income to the bank.

To become safe and secure after the purchase, you need to get title insurance for the property that you have bought. The title insurance will safeguard you from unwarranted problems that you have forgotten about. Make sure that you look at the exceptions page of the insurance papers.

You may need to redecorate your luxury home before you move in. You will save a lot of your headaches and multiply your happy moments after relocation to your new home. For example, you may want to opt for carpet flooring instead of hardwood; or paint the interiors of your house to a different color; or change your garden landscape to suit your taste. Contact with your interior decorator well in advance and roll out the renovation process.

Lastly, and most importantly, you need to evaluate your financial position before you take the plunge. You need to sit down with your realtor and figure out how much you can afford. Your realtor will tell you about every cost involved, including interest, taxes etc. Next, you need to sit down with the bank representatives who are willing to lend you. Watch on the repayment interest rate. Your realtor should act as a liaison between you and your banker. Take advantage of your realtor’s experience in this field. A luxury home in a posh locality can cost up to millions of dollars. Therefore, make an honest assessment about your creditworthiness before you jump to any decisions.