The most luxurious homes in the world are not without their quirks and blemishes. For a price tag ranging close and above the million mark, you will want to know the home is just right for you before signing on the dotted line. However, searching for your ‘dream home’ comes with a lot of tests. You’ll need to be patient, skilled in the art of negotiation and have the confidence to demand certain things from the real estate agent. Don’t be afraid to by a little strenuous for detail. You have every right to be picky about what kind of home you’re going to buy, especially one so expensive. Luxury homes are in a class of their own. Normal 3-bedroom family homes are not the same, so you have to approach them in a different manner. Here is a long list of factors you need to consider.
The key features
The process of buying a luxury property is arduous but you have to remember one thing. You have every right to demand and expect utter excellence. It’s incredibly important that you acknowledge this and approach the process with this in mind. The real estate agent that works in this field will know it too. The owners selling the property will be well aware that they need to meet the seller’s expectations too. Rest assured, you are in the driver’s seat. You’ve worked hard all your life, you’ve saved up and now you want to buy a dream home which could potentially be the last home you ever purchase. Don’t be meek and shy, be forthright with your expectations.
The key features of any luxury home must include these things. An open landing, one which is a little far from the staircase. Large open rooms with more than one door so you can enter from different rooms. Hardwood flooring is a non-negotiable feature, it must have pristine yew, rose walnut or mahogany wood flooring. The kitchen must have an island and it should be made from a high-end material such as marble or granite. You should expect to have some kind of water leisure features such as a jacuzzi or swimming pool; outdoor and indoor. A twin staircase is more attractive and leaves the hallway open. Acres of land to yourself is another non-negotiable must-have.
An impeccable location
The location itself should be worth half the asking price. You are buying not just a property, but a new life. Luxury homes offer residents some of the best places to live, in the world. However, luxury homes are usually part of a luxury neighborhood. You don’t often find a single luxury house standing on a hill, on its own. So the types of locations you must expect are as follows.
Lakes are massively popular locations as they offer a waterfront view and plenty of water activities without intrusions from other people from outside the area. Speak to a lake real estate agent to see what the exclusive benefits are to buying a lake property. In Smith Mountain Lake, you can gold all-year-round. You will enjoy boating in front of your own home in an exclusive patch which comes with some properties. You have exclusive rights to fish in the lake as well. When there’s wind across the lake, feel free to set sail to enjoy a calming ride on the water. There are also water sports of all kinds.
Villas are often on high ground, such as around the elevated parts of the coastline. That’s why the south of France often gets the most lucrative sales in the business. Mediterranean villas are a hot commodity in the luxury home world. They provide a sea view and plenty of sunshine. Due to how many of them are designed, the gardens have tall privacy trees, giving you plenty of time to yourself to sunbathe and swim fully unclothed in your pool and garden.
Country manor houses are known for their exclusivity because they have many acres of land attached to the property. This gives you plenty of space and freedom to live comfortably and privately. However, they are in the countryside so you will feel a little wind chill every now and again.
Hillside luxury homes are quite a design accomplishment. The Hollywood Hills homes are one such example of luxury homes that are in pristine locations but also have their challenges. Landscape erosion is a concern but it’s something that the local authorities pay close attention to.
Beware of the challenges
Luxury homes are no exceptions when it comes to property depreciation. Even large homes can suffer horrendous price drops in the market. They’re usually foreseeable and are due to something being wrong with the property itself. You must realize that the maintenance of a large property is expensive and has to be done every year. Beware of your land become dry and or damaged by wildlife. If you live out in the country, you will be surrounded by nature and wild animals. Moles and gophers can do a lot of damage to your flat lawn and flowerbeds.
It’s also important to maintain your swimming pool and other water leisure structures. The worry is that there could be a leak that damages the surrounding land and or home itself. The repairs would be gargantuan and they wouldn’t come cheap. Property depreciation can also occur when natural disasters strike. More often than not, luxury homes are in locations that are right in the path of flash floods and other weather phenomena such as tornadoes. Since you’re living in a remote area, power cuts are something you will need to get used to. Major cities might not even notice there was a power cut because emergency power from the grid is given to them as a high priority. Those living in remote areas will have to be some of the last homes to receive their power back, whether in a luxury home or not.
The location is perhaps more important than the property itself. Waterfront homes are highly prized because they offer plenty of leisure activities and privacy at the same time.