Homebuyer Archives - Sold by KCB

What is Luxury Real Estate?

What is luxury real estate? While it might be in great demand, just how much does expensive real estate actually make for an investment? Let us explore this question in some detail. Ultra high net worth individuals require a highly developed property with state of the art facilities including a large, fully equipped kitchen, chef’s kitchen, full-time gardener, jacuzzi/spa, pool, and security systems. The property must also be located in an affluent neighborhood with excellent schools and recreational facilities. Ideally, you are looking to purchase something of value (in the form of a condominium, townhouse, rental home, or even a luxury hotel) and to hold onto it as long as possible.

Luxury Real Estate is a Great Investment Opportunity

Luxury real estate can be a highly lucrative investment. There are so many opportunities for high-end homes and real estate properties that only the top realtors know about. In order to become one of the top realtors there are several things one must know about luxury real estate. You need to have an understanding of what drives the market, know who the target buyers are, know how to sell the most expensive luxury real estate, and be capable of negotiating effectively when selling any of the most luxurious homes for sale in the country. Having the perfect list price and an experienced real estate broker are two essential cogs in the successful sale of even the most luxurious home.

Typically luxury real estate is the investment of choice for the wealthy and it’s no surprise that the investment is also a popular choice for homebuyers. High-end properties are those that are usually owned by individuals or families who can afford the price point (usually in the millions) associated with such luxury real estate. A buyer interested in the more luxurious offerings of such real estate will want to look into the region in which the home is located as well as taking into consideration the current job market.

How Do You Purchase Luxury Real Estate?

Luxury real estate is one of the fastest growing segments of real estate investment. There are actually several routes to purchasing luxury properties. One of the most common routes to purchase luxury properties is through private lenders. Private lenders have their own lending programs that work with buyers to obtain financing for luxury properties. Another method of purchasing luxury properties is through financial institutions that specialize in financing luxury properties. The best route by far is to work with an experienced real estate agent or even an international realtor who has both knowledge of the current market and access to multiple listing services.

Are Townhomes Considered Luxury Real Estate?

The townhome style of home – with its raised, vaulted ceilings, its over-sized windows, and its flowing, well-polished doors – is a far cry from what you would typically find in the luxury real estate market. Of course, the rich and famous can afford such homes as well. But these homes are not truly luxury, because they lack the standard amenities common to other homes. For example, there are usually no interior features such as high-end kitchens, bathrooms, and home theater systems.

Conclusion

So, what constitutes luxury real estate? In short, it’s the latest trend in housing luxury. The current trend is evident in the ever-expanding use of multi-million dollar mansions and homes for businesses and pleasure. However, there are many different styles of luxury homes. You should ask your realtor about home values and which luxury house he thinks is the most affluent and complete with all the luxuries that will make it stand out from the rest of the market.…

Project vs Dump: 3 Warning Signs to Look Out for in Fixer Uppers

Dec/14 By William Ruiz

If you like a challenge and love working on buildings that need some TLC, keep reading. Some homebuyers are always on the lookout for a new project that could be an investment in the making, something to keep them busy with but also for recreational reasons. Buying an older house is not a big deal. But you should buy one that won’t bleed you dry too. In this post, we look at some of the signs you should be on the lookout for before buying a fixer-upper.

Too Much Damage

If you notice a sagging ceiling, floorboards that are broken, a kitchen with no wiring, and broken windows, you should probably run for the hills. This is not a fun little project that you can make some quick cash on with minimal effort. This is an overhaul, ER situation. Remember you don’t want to spend more on the house than what you should.

Price is Not Right

Okay, so you don’t scare quickly, and you want to take it on. But the owner is asking a ridiculous price for a house that is all but roofless. Be sure to check what the house is worth at face value, before getting bullied into a buy that you will regret and that will most definitely cost you more than you bargained for.

No or Slow Cash Return on Investment

Look, we know money makes the world go round, but in all seriousness, if you spend a truckload of cash on revamping a house, with the goal to re-sell it and make a profit, or maybe rent it out, but you cannot calculate how you will get there with all the costs needed for the fixing etc, it is not worth your time anymore. This is especially the case in the Tallahassee real estate market.

Fixing up and selling older houses is a fun hobby and can be very lucrative if you know what you are doing and what to look out for when buying these ‘fixer-uppers’. Be sure to be aware of all the pitfalls, and have a budget at hand to work out what you need to spend in order to make money. We hope you’ve found our pointers helpful! Tell us your fixer-upper story in the comment section below.…