When you think of a luxury property, there are many options that come to mind; a straggling mansion set on several acres of land, a contemporary home near nature, or maybe a lavish condo in front of the ocean. Whatever the case, most homebuyers think they know it when they see it, and also think that by having the money, they already own the house of their dreams.
However, as the real estate business for the sale of luxury homes is on the rise all over the United States, and the prices also had a significant increase over the past few years, there are some matters investors must focus on when searching for the ideal property to invest on.
It’s best to get an idea first on what you want and do not want for your property. There are a lot of options to consider so it’s best to do a proper research. Investors should begin by checking out the housing market by location before taking any further steps.
There are numerous great locations in the US for a luxury home in (Manhattan, New York, Bel Air, California, San Francisco, California) but there is one that offers the perfect combination of lifestyle, location and high caliber: South Florida. This sought-after location offers the most exclusive properties as for example:
Conveniently located right on Brickell Avenue, The tower boasts a prime waterfront setting that allows the most gracing views of the bay and the city skyline. Prices go from $1 M to $11 M.
This is a residential wonder in the heart of Miami. The building is on the waterline in Bayshore Drive and it is the perfect combination of refined city living and casual bayfront home. You can negotiate with prices from the low $599,000 to 5.7 M.
Just a few minutes north downtown Miami, this property offers easy access to the Brickell Financial District, the arts district, downtown, and South Beach. Aria boasts two swimming pools that capture both sunrise and sunset views. Prices start at $720,000.
With ocean, bay, city views, the luxurious tower is one of the most stylish bayfront towers in the South Beach area of Miami Beach. The luxury condo affords a private Bay Side Beach Club and on-point amenities. You can own a residence from the low $825,000.
This lavish piece of real estate is located in North Edgewater within close distance to the Wynwood Art District with overwhelming views of the waterfront line and stunning interiors by acclaimed Italian designer Piero Lissoni. Prices start $989,900.
After you’ve done this, you as an investor must take your search outside of the internet. Find and choose a broker who specializes in luxury real estates in the location you prefer and then let them find a house for you and show you around.
Bear in mind that some properties may not be that striking through pictures so it’s always best to go on-site and ask for a tour. As with any other real estate purchase, it is essential for you to take the time and inspect the luxury home that you want to purchase. Inspect the pools, spa, and gym, in-house laundry system, lawn irrigation systems, storage, fireplaces, central air conditioning/ heated floors, driveways, surveillance systems and even the fountains and ponds. Some may require a specialized home inspector so it’s best to have all these checked prior to your purchase.
As a final advice, always remember the title insurance is super important as this will function as your protection in case there will be any problems that were forgotten during an inspection.
If you are one smart investor looking for a luxury property right now, keep all these in mind and your purchase will most surely come out as the way you always wanted to.
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