If you’re buying luxury real estate, it can be tempting to focus on frivolous amenities and ignore the key fundamentals of buying real estate in any class. Considering the cost involved, it’s important to consider your priorities and thoroughly evaluate all potential properties in the area you’d like to buy in before making any final decisions. One of the most rewarding things you can do with your savings is purchase luxury real estate, and while it can feel great to buy the home you’ve always wanted, it shouldn’t come at the cost of practicality and key features.
Here are the top things luxury real estate buyers should obsess over:
Practical Layout
Giving yourself space to live in your new home is key, so make sure the layout of your home is practical. Is there clear separation between your social and private areas? Does it have an eat-in kitchen? Are the hallways long, or are there other unfortunate space wasters? Run through a mental checklist of do’s and don’t’s before buying anything.
Storage
This might just be my preference, but I care about having extra closet space and additional storage room in the basement of a home I’m looking at. You might not need to have actual closets installed as backups, as you can always hire a contractor to make them, but your new home should have some functional area available for the conversion if need be.
Unobstructed Views and Light
When it comes to your home, there are few things that will brighten your mood like an apartment interior that lets in lots of natural light. More often than not, having openness in your home is more important than outdoor space. Making sure your view is unobstructed and that it will stay that way will also play a key role in your ability to enjoy (and potentially sell) your home.
Ceiling Height
Up to about 14 feet, the higher your ceilings, the better. Instead of looking at the square footage of the real estate you’re evaluating, consider checking out cubic footage- there’s practically no such thing as a luxury apartment or home with 8.5-foot ceilings, unless it has especially good views and lighting that offsets the penalty from lower ceilings.
Architectural Uniqueness
Good architecture retains value, so before buying a home, do some research on well-known architects in the area and make sure your home was built by one with a good track record and beautiful, yet practical design. Consider how your potential home will look in a few decades, as well as how it’s perceived today, and make sure there’s an artistic component to its structure.
Source: Forbes