Purchasing luxury real estate an investment in Marbella has proven to yield significant profits, but it has also lead to some unprepared investors to bankruptcy, wasting time and money, as well as the inability to pay back a loan. Successful real estate investing is best carried out when an investor has a team of experienced professionals to guide them through the process.
“Ninety percent of all millionaires become so through owning luxury real estate”, those were the famous words of Andrew Carnegie (1835-1919), a Scottish-American Industrialist who led the expansion of the American steel industry during the 19th Century.
A high price tag won’t make the cut, so it’s important for potential investors to know what exactly is considered a high-end property prior to their investment. While there is no one design that defines a luxury property, ranging from sprawling manors and picturesque country estates to immaculate metropolitan apartments and contemporary masterpieces, there are certain factors that define a luxury home.
Buyers in the high-end market look for many of the same features as any other buyer, such as privacy, security, space and proximity activities and amenities. When purchasing luxury real estate, you’re buying the luxury lifestyle to match, so it’s vital look for the sophisticated services and striking qualities that distinguish the luxury lifestyle. Wealthy people will pay a premium for something that’s perceived to be superior.
Other amenities should include those you wouldn’t necessarily find in a regular property, such as a chef’s kitchen, luxury pools sitting in landscaped exotic gardens, home automation systems, extensive security systems and temperature-controlled wine cellars, to name a few.
Nearby amenities should include exclusive shopping destinations, fine dining and premium art galleries, as well as exceptional private international schools for families with children. Luxury residences are most desirable when situated in affluent and exclusive neighbourhoods and premium addresses, such as Park Avenue in New York City, will add value to a property.