When The Time Has Come For Luxury Real Estate
What exactly is a luxury property and how does one go about acquiring it? The answer is that real estate -- meaning properties and homes -- that is of a certain price level (usually starting at $1 million and going significantly upwards from there) will qualify as such real estate. These are not typical run-of-the-mill residences, by the way.
Indeed, a luxury home stands alone as the acme of success when it comes to taking that hard-earned cash that has been earned and turning it into something tangible like a serious luxury home. If there's still a doubt about what such real estate might be, envision a home sitting on an ocean side cliff in Malibu that's owned by a billionaire software entrepreneur and that's pretty much what luxury means when it comes to homes and real estate.
Surprisingly, such luxury houses properties -- partly owing to the precipitous drop in real estate values in many parts of the world -- are within reach of many people who might not have been able to finance the acquisition of such a property just a couple of years ago. This doesn't mean, however, that overhead and costs of maintaining such property has decreased, though.
And that overhead is the part that people fail to consider when they think about maybe buying into some luxury houses. And even though a home that once sold for 15 million might be able to be purchased for around 8 to 10 million, it is just as true that actual maintenance costs will not have declined and might even have risen. Still, if you are worried about maintenance and overhead you probably can't afford a property like this in the first place.
At any rate, it's a time to delve into the luxury houses market and your hot to find a property that would get you on a new version of "Lifestyles of the Rich and Famous, " there are certainly more than a few websites and online brokerages that can assist in finding homes that cost at least 1 million bucks. Keep in mind, that $1 million is basically the equivalent of a small envelope outside of Cleveland when it comes to homes in the luxury real estate markets.
As an illustration of what the bottom end of the market in luxury properties usually hovers at, consider that the home depicted in the movie "Ferris Bueller's Day Off" and in which a Ferrari crashed through the sunroom's window is on the market for $2.3 million at present. What is amazing about this property is that the prospective buyers wish to demolish the home and erect an even bigger structure on it.
That's another thing to keep in mind when it comes to luxury properties; in many cases the land under which the home sits can be far more valuable than the home itself. This is the case in areas like Malibu or the North Shore of Hawaii, in the United States or just about any property in downtown Tokyo, where land sells for thousands of dollars per square foot.
For most, the idea of luxury properties will be nothing more than an idle time fantasy. However, for those who want to jump into it and buy a home that might put something owned by Donald Trump to shame, this is most likely the best time in the last several decades to find and then owned a piece of property that really stands out. - 23212
Indeed, a luxury home stands alone as the acme of success when it comes to taking that hard-earned cash that has been earned and turning it into something tangible like a serious luxury home. If there's still a doubt about what such real estate might be, envision a home sitting on an ocean side cliff in Malibu that's owned by a billionaire software entrepreneur and that's pretty much what luxury means when it comes to homes and real estate.
Surprisingly, such luxury houses properties -- partly owing to the precipitous drop in real estate values in many parts of the world -- are within reach of many people who might not have been able to finance the acquisition of such a property just a couple of years ago. This doesn't mean, however, that overhead and costs of maintaining such property has decreased, though.
And that overhead is the part that people fail to consider when they think about maybe buying into some luxury houses. And even though a home that once sold for 15 million might be able to be purchased for around 8 to 10 million, it is just as true that actual maintenance costs will not have declined and might even have risen. Still, if you are worried about maintenance and overhead you probably can't afford a property like this in the first place.
At any rate, it's a time to delve into the luxury houses market and your hot to find a property that would get you on a new version of "Lifestyles of the Rich and Famous, " there are certainly more than a few websites and online brokerages that can assist in finding homes that cost at least 1 million bucks. Keep in mind, that $1 million is basically the equivalent of a small envelope outside of Cleveland when it comes to homes in the luxury real estate markets.
As an illustration of what the bottom end of the market in luxury properties usually hovers at, consider that the home depicted in the movie "Ferris Bueller's Day Off" and in which a Ferrari crashed through the sunroom's window is on the market for $2.3 million at present. What is amazing about this property is that the prospective buyers wish to demolish the home and erect an even bigger structure on it.
That's another thing to keep in mind when it comes to luxury properties; in many cases the land under which the home sits can be far more valuable than the home itself. This is the case in areas like Malibu or the North Shore of Hawaii, in the United States or just about any property in downtown Tokyo, where land sells for thousands of dollars per square foot.
For most, the idea of luxury properties will be nothing more than an idle time fantasy. However, for those who want to jump into it and buy a home that might put something owned by Donald Trump to shame, this is most likely the best time in the last several decades to find and then owned a piece of property that really stands out. - 23212
About the Author:
The real estate market continues to devalue, with even luxury real estate falling in price, and perhaps making some luxury homes more affordable than was previously the case.
posted by X - Men @ 2:46 AM
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