The demand for luxury homes in Africa is slowly gathering pace as high net worth investors now seek to maximize the apparent potential in luxurious real estate investment. This, coupled with the desire to live in safe, upscale, and modern neighborhoods, has made the idea of luxurious home purchase quite enticing.
Numerous features are present in luxurious properties that make them appealing to buyers. But first, what is a luxury home?
What is a Luxury Home?
A luxury home satisfies all the comfort needs of a modern buyer. It gives you eminence, privacy, and security while providing amenities that simplify and ease your daily routine. A luxury home could be an apartment, duplex, or mansion. They differ in form and size but are usually located in prominent neighborhoods.
Buying a luxurious home isn’t the same as buying just any property. This article explains some factors you should know to help you make the most of your luxurious real estate investment.
How to Make the Most of your Luxurious Home Purchase
1. Create A Buying Checklist
You need to have a working list of amenities or features you would like in your luxurious home to guide you through your search. You can divide your list into two – important and less important – to clarify your priorities.
With a luxurious home checklist, you can quickly tick off boxes without settling for less until you find a suitable option.
2. Get A Credible Real Estate Agent
Don’t be deceived. You need a reputable real estate agent to get the correct value for your investment. Getting luxurious houses in Kenya for sale is no piece of cake.
It would help if you have an experienced real estate agent who has mastered the intricacies of the high-end property market. Such an agency will guide you through the whole buying process, and help you avoid any existing pitfall.
3. Ensure You Professionally Inspect The House
While it is essential to physically visit a prospective home to ensure it fits your needs, it is even more critical to have it inspected by a professional.
Don’t rely only on glossy images and videos because these may sometimes be misleading. A professional inspector will look for pests, mold, faulty electrical wiring, leaky roofs, squeaky floorboards, poor plumbing, or poor structural design, which the average buyer typically ignores.
4. Ensure Your Budget Matches Your Need
Luxury homes are considerable investments reserved for high spenders. However, this doesn’t mean you should begin the home buying process without setting your finances in order.
Ensure your budget is enough to finance not only your desired home but also other accompanying costs not added to the property. For example, think of insurance, maintenance, moving expenses, and taxes if applicable. In a nutshell, ensure you are financially capable of caring for every potential cost you may encounter.
5. Pay Proper Attention To Location
Location! Location!! Location!!!
Location is a huge factor when it comes to purchasing a property. Location determines your home’s resale value and whether you’d have access to the features, amenities, and neighborhood you desire. This is why you must have a proper conversation with your real estate agent about the best location to invest.
6. Don’t Be In A Haste To Buy
Take your time to carefully consider all your options before you sign on the dotted lines. It may take a while to get your choice home, so don’t be quick to conclude any transaction that might cause you future regrets. Instead, walk away when you are not entirely comfortable with a property; the real estate market is dynamic, and you’d find a suitable property with the right help in no time.