When The Time Has Come For Luxury Real Estate
You accumulated some financing and been successful in investments and other activities, and know that when the time has come for luxury properties you'll be standing there ready to scoop it up. There are different types of real estate in the world, including commercial and industrial and even run-of-the-mill residential properties, this much is true.
However, luxury houses stands in a class all by itself. If curious about what such real estate is, think in terms of at least a cool million dollars and imagining your mind a scene from a movie about a superrich billionaire industrialist who lives on a cliff front home in Malibu, California, for instance. These are the kinds of homes that made up the show "Lifestyles of the Rich and Famous."
What can come as a bit of a surprise is that -- these days -- such homes may not cost as much as they once did. This is partly the fault of the global decline in real estate, though a home that once cost $15 million will certainly not be able to be purchased for anything remotely resembling a so-called "bargain basement" price. Also, there is still the matter of maintenance and overhead.
And that's where many people who are unfamiliar with real estate go wrong when it comes to thinking about buying such properties. Along with big-ticket homes comes big-ticket maintenance and upkeep, and it is still a fact that if you have to ask how much it costs to heat the place you probably really can't afford it and shouldn't be trying to get it.
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 a luxury home markets.
As an illustration of what the bottom end of the market in luxury houses 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.
What that says is that land is always a far more value than a home that might be sitting on top of it. In downtown Tokyo, a square foot of this stuff sells for around $10,000 in good years. Homes are located in cities like Honolulu or in Marin County, for example, cost a lot but the land underneath costs much more.
For most, the idea of a luxury property 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. - 23218
However, luxury houses stands in a class all by itself. If curious about what such real estate is, think in terms of at least a cool million dollars and imagining your mind a scene from a movie about a superrich billionaire industrialist who lives on a cliff front home in Malibu, California, for instance. These are the kinds of homes that made up the show "Lifestyles of the Rich and Famous."
What can come as a bit of a surprise is that -- these days -- such homes may not cost as much as they once did. This is partly the fault of the global decline in real estate, though a home that once cost $15 million will certainly not be able to be purchased for anything remotely resembling a so-called "bargain basement" price. Also, there is still the matter of maintenance and overhead.
And that's where many people who are unfamiliar with real estate go wrong when it comes to thinking about buying such properties. Along with big-ticket homes comes big-ticket maintenance and upkeep, and it is still a fact that if you have to ask how much it costs to heat the place you probably really can't afford it and shouldn't be trying to get it.
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 a luxury home markets.
As an illustration of what the bottom end of the market in luxury houses 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.
What that says is that land is always a far more value than a home that might be sitting on top of it. In downtown Tokyo, a square foot of this stuff sells for around $10,000 in good years. Homes are located in cities like Honolulu or in Marin County, for example, cost a lot but the land underneath costs much more.
For most, the idea of a luxury property 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. - 23218
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 @ 12:45 PM
0 Comments
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home