Luxury home buyers are privileged to have an opportunity to make a heavy-duty investment on Home Purchase. While it is indeed a thrilling experience to go 'home hunting', it takes a lot of commitment and time to successfully find a luxury property that checks all your boxes. In addition to this, since a huge sum of investment is involved, which may include borrowing via mortgages, you need to ensure that thorough research is conducted, before proceeding further. Through this Blog, we aim to share a few handy tips that will help investors make the right buying choice for their luxury home in Dubai, or anywhere else in the world.
Definition of Luxury Property
The term luxury is associated with something that is prime or premium. Luxury properties are afforded only by top influential buyers, who have their budget in millions, which otherwise cannot be afforded by a common home seeker.
#1 Location
A prime location is one of the considerations that increase the value of the home in the market. Imagine living on an island surrounded by crystal blue water or uphill in the mountains, where you have access to all nature's secrets. These perks come at a hefty price though! Luxury properties are built at some of the most desirable locations, within some of the most desirable cities, promising incredible views. Palm Jumeirah in Dubai is one such location that is preferred by the affluent. So if you desire to own a space, you call home, on the 'Palm' simply ask your real estate broker in Dubai to book a visit.
#2 Pricing
The price of the luxury property depends on its location, the neighborhood, and per sq. ft. cost of housing. Luxury can cost you anywhere from AED 10 million and above. Remember you are not only paying for the home but the amenities and the lifestyle experience you get with it. Also, staying in a posh neighborhood is quite a status symbol and people are ready to pay a price for it.
#3 Amenities
This is quite an expansive list, as the number of amenities can be countless, depending on the community you choose and the facilities available there. Over and above the usual ones like clubhouse, swimming pool, and gardens; luxury properties offer residents access to private golf courses, sports bar, dedicated sauna, exclusive retail only for homeowners, ample recreational spaces, and even a helipad, or a deck to park your yacht at the Marina. Now that's fancy!
#4 Services
There are numerous on-call services that are desired by the rich & affluent. These include laundromat, chef on call, baby sitting & pet sitting, besides 24*7 concierge desks, valet, and an array of other home maintenance services. Residents even get their personally appointed staff who takes care of any special requests like hotel bookings, ticketing, and other such demands.
Here's what to consider before making a buying decision:
#1 Approach a reliable Realtor
There are numerous Real Estate service providers out there, but you need to approach the most suited for your requirement. Ask around previous home buyers who have had a good experience in the past with their home buying process, and do your own research from the net before advancing. A good real estate provider will guide you, give you tips, and become a companion in house buying for those looking out to purchase a luxury home for sale in Dubai.
#2 Define your Parameters
It's easy to get confused by checking out multiple properties. Imagine you walk into an onsite visit at a beautiful villa by the waterfront, just as you wanted, however, it has a tennis court, instead of a swimming pool. Now, are you ready to compromise? So, make a note of the things that are a 'must have' and an absolute essential on your dream list. Make sure that your broker keeps in mind all that you desire from a home and tops up your list with pleasant surprises.
#3 Learn More About Your Neighborhood
Central proximity to work and other attractions of the city makes a huge difference. Also, luxury home seekers prefer a neighborhood that has people who match up to their level of aristocracy & class. Hence, take time to explore every aspect, including the availability of posh IB schools, hospitals, and entertainment avenues nearby.
So what are you waiting for? Connect with an expert Luxury Realtor and start your home search for investing in a Luxury Home.
