Can Luxury Real Estate Be For You?
What exactly is luxury real estate and how does one go about acquiring it? The answer is that real estate -- meaning properties and homes -- that is of a certain price level (usually starting at $1 million and going significantly upwards from there) will qualify as such real estate. These are not typical run-of-the-mill residences, by the way.
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 overhead is the part that people fail to consider when they think about maybe buying into some luxury houses. And even though a home that once sold for 15 million might be able to be purchased for around 8 to 10 million, it is just as true that actual maintenance costs will not have declined and might even have risen. Still, if you are worried about maintenance and overhead you probably can't afford a property like this in the first place.
Putting all that aside, if it's time to decide to make a luxury home a part of your life, and you want a home that would make you the envy of all those superrich celebrities who own homes on the Malibu shoreline, there are more than a few online brokerages that can help out. Holmes of this sort start at $1 million, minimum, and go from there, though $1 million is kind of paltry in comparison to what is out there.
As an example of what a luxury real estate property is, remember the home that was used in the movie "Ferris Bueller's Day Off." At home -- in which the character Cameron crashed his father's for Ari through the sunroom windows -- is being listed at $2. 3 million. The people who are considering buying it only want the property underneath it and plan on demolishing the home.
That's another thing to keep in mind when it comes to luxury properties; in many cases the land under which the home sits can be far more valuable than the home itself. This is the case in areas like Malibu or the North Shore of Hawaii, in the United States or just about any property in downtown Tokyo, where land sells for thousands of dollars per square foot.
For most, the idea of luxury properties 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. - 23217
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 overhead is the part that people fail to consider when they think about maybe buying into some luxury houses. And even though a home that once sold for 15 million might be able to be purchased for around 8 to 10 million, it is just as true that actual maintenance costs will not have declined and might even have risen. Still, if you are worried about maintenance and overhead you probably can't afford a property like this in the first place.
Putting all that aside, if it's time to decide to make a luxury home a part of your life, and you want a home that would make you the envy of all those superrich celebrities who own homes on the Malibu shoreline, there are more than a few online brokerages that can help out. Holmes of this sort start at $1 million, minimum, and go from there, though $1 million is kind of paltry in comparison to what is out there.
As an example of what a luxury real estate property is, remember the home that was used in the movie "Ferris Bueller's Day Off." At home -- in which the character Cameron crashed his father's for Ari through the sunroom windows -- is being listed at $2. 3 million. The people who are considering buying it only want the property underneath it and plan on demolishing the home.
That's another thing to keep in mind when it comes to luxury properties; in many cases the land under which the home sits can be far more valuable than the home itself. This is the case in areas like Malibu or the North Shore of Hawaii, in the United States or just about any property in downtown Tokyo, where land sells for thousands of dollars per square foot.
For most, the idea of luxury properties 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. - 23217
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.