For many, a luxury home is a mark of opulence and high-end living. But there’s more to it than being simply a status symbol. More often than not, people purchase luxury homes because they are worth every single penny. These are places they can tailor-fit to suit their lifestyles and possibly pass it down to future generations.
Ask luxury homeowners why they invested in these properties and you’ll get varied answers. Some will say these homes offer breathtaking views of nature, the city, or whatever window scenes they fancy. Others will say it’s the first-class amenities and the latest technologies available to man that convinced them to purchase. What it all boils down to, however, is that the home fits their needs and lifestyles.
If you’re thinking of purchasing a luxury home of your own, consider the following perks. These are what make luxury homes good investments.
- Overflowing amenities
- Plenty of space to tell your story
- Secure surroundings
- Convenient location and prestige
- Best performing asset
A luxury home is like a blank canvas for you to fill up. Everything depends on you alone. You determine how many rooms you want in the home, where they are located, and what they’ll be used for.
You decide the color of the façade and the interiors, the furniture layout, garden plants and flowers, the lighting, the technologies to use – everything! You can even completely redo an older property and transform it into the home you want.
Luxury homes come with a variety of amenities that can cater to your lifestyle. You can have a luxury pool, an outdoor living space, a home office, a gourmet chef’s kitchen, and even your own wine cellar and tasting room. And if ever the luxury home you love doesn’t have the amenity you want, you can make space and add it.
Luxury homes also have top-of-the-line technology and automation. This means surveillance cameras and motion detectors to keep your home safe, adaptive temperature control, and an entire array of other smart home tech.
High ceilings, huge rooms, grand balconies, and stunning design often characterize a luxury home. There’s so much space, you can make long-term plans that will benefit you and even the next generation who will live in it. And since there’s more than enough room for new additions to the family, there is no need to constantly move to larger homes to fit everyone.
If you have no plans of starting a family, you can turn your luxury home into the go-to gathering place for your friends and loved ones. It can also be your private retreat complete with custom-made spa amenities if you wish for some personal pampering time.
Most luxury homes are located in gated communities or safe, secluded locations. People living in such neighborhoods also enjoy camaraderie with their neighbors. They look out for each other without invading anyone’s space or privacy. If peace of mind is what you’re looking for, you might find it in a luxury home.
In cities and towns, luxury homes are often located in prime locations. They’re usually found close to important facilities like hospitals, parks, groceries, pharmacies, gyms, as well as the best schools in the community.
In terms of long-term investment, enviable locations help stabilize or drive property values up. If reselling is in your future, you can reap significant returns from your investment.
The market for luxury real estate is always growing, even during a pandemic. They are also more stable investments than stocks or bonds. What especially makes investing in a luxury home investment attractive is that you have three ways to do it.
You don’t have to live in a luxury home if you don’t want to. You can build a brand new luxury home that meets today’s building and lifestyle standards, then sell it as real estate developers would.
Second, you can purchase an existing luxury home to renovate, then sell it for a profit.
Third, you can either build a luxury home or buy an existing one, then rent it out to long-term tenants. You will build equity and earn passive income at the same time.
Dive into the world of Williamsburg luxury real estate
Coldwell Banker Traditions has a century’s worth of real estate experience, showing the most discerning luxury home buyers their options in the Hampton Roads area. Let us show you around Williamsburg, VA to find the best luxury homes to live or invest in. Call us at 757.229.9595 or sending an email to info(at)cbtraditions(dotted)com.