Purchasing Luxury Real Estate: Your Surroundings Matter!
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by: MattCBA
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So, you’re ready to make the move. You’ve been working hard, saving money and are now in a place to “upgrade” to a luxury home. There are many factors that come in to play when you’re deciding what luxury property to purchase, but in this article, I’d like to focus on what I think is the most important. Location.
Yes, I know, “Location, Location, Location” is very cliché, but the premise behind this phrase is one that will be adhered to as long as there is property out there to buy and sell. You’re surroundings matter! Whether you’re looking to invest in a luxury property that will hold its value, or you just want a community that fits your needs, the location is key.
Here are some tips on finding the community or area that is best for you:
The Economy and Taxes
This may seem obvious, but one of the first things that you should check is the economic stability of your prospective city or community. If you are planning on re-selling the property in the future, you want to make sure that the economic conditions of the area are such that your property is still located in a place that is still desirable to others.
Make sure that your community has a good mix of residential, commercial and industrial areas. If the surrounding industrial and commercial areas are vibrant, it can be assumed that there are a healthy amount of jobs available to keep the local economy going strong. Look around the area. Are the neighborhoods and community areas well maintained? If the area is kept neat and clean, it can mean that the people of the community are proud to keep the area nice, and the local government is invested in keeping the community desirable.
Property taxes can also be a big issue. It is important to know how the area property taxes compare to neighboring cities. This will affect your cost of living as well as the ability to sell the house when the time comes. If your community has a history of raising taxes consistently, then you can assume that it will be much harder to get value out of your luxury property when you are ready to sell. On the other hand, a community that tends to lower property taxes is more likely to attract buyers in the future.
Recreation, Services and Schools
Having a vibrant and active community is more likely to attract homebuyers. Do some research (ask your Luxury homes and solution associate) to see if the local government sponsors regular community events such as festivals, parades, sporting events, concerts, etc. Find out if this area is a destination for leisure, entertainment, sports – or all of the above!
It’s also a good idea to check the crime rate of the area. Check to see how the local police and fire departments compare to other surrounding cities. Are the departments strategically placed around the community to maximize response times?
If you have a family, then you probably already know the importance of schools. Are there newer facilities? Are the schools overcrowded? How do the local students score on standardized tests? These are all factors in the rating of local schools. Obviously the higher rated the schools are, the more desirable.
Even if you don’t have school-aged children, your future potential buyers may, and for most families, schools are very high on their priority list when looking to buy a house.
These are just some basic things to look into before deciding which community is best for you. A good Luxury Home’s Associate will know most of this information and will have some valuable insights into the community, so don’t be afraid to ask!
About the Author
Born in Saigon,Vietnam, Jack’s family narrowly escaped from the Vietnam War, and immigrated to Calgary, Canada in 1980. Raised from a family of 9 children and amazing parents, he was taught the meaning of respect, honesty and integrity. Those who know Jack can attest for his willingness to help others and a person of principle. With a Business Marketing background and having worked in the Oil & Gas industry for almost 4 years, Jack’s experiences include sales and marketing, customer service, account management, and negotiation. More recently, Jack pursued his dreams as an entrepreneur/business owner, helping people to have a more fulfilled and balanced lifestyle. As a Life Coach/Hypnotherapist/Reiki Master, he motivates and educates clients on how to go after what they truly want in life. A few of his passions include travelling, personal growth, the pursuit of excellence, yoga, golf, nature, dogs/animals, and keeping fit in mind, body and spirit. As the Chief Negotiator with Luxury Homes, Jack’s primary goal is to passionately serve his clients to the best of his ability, and to create win-win situations for all parties. He looks forward to creating lifelong relationships, personally and professionally. http://www.LuxuryHomesSuccess.com
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