REALITY THOUGHTS

The Luxury Property Checklist- II

August 16, 2021

Whether a first-time buyer or seasoned investor, the process of buying an affluent property is elaborate and time-consuming. Varied aspects need to be taken into consideration when making a big financial investment.

In my previous article I discussed about the 5 key factors that affect the intrinsic value of luxury properties and here I highlight the other 5 important factors to evaluate a property for purchase.

6. Developer’s credentials and Owner’s Association

A trustworthy developer with a reputation for quality projects means a better value. Also, the Owner’s Association (Strata Management Company) needs to be evaluated for the proper maintenance of the common facilities.

7. Address and location

The address of property makes a big difference. Posch villa communities (Emirates Hills, Palm Jumeirah, Arabian Ranches, Al Barari) have a major impact on villa prices and demand. Location and scenic views (beachfront, cascading waterfronts, marina access) is the key as it remains constant until the end of time.

Self-contained living communities make for an ideal home with all amenities located within the premises. Ideally, such luxurious villa communities have their own shopping centers with plenty of outlets.

8. Neighborhood

The cadre of high-society neighbors and the company you socialize in defines the value too. Perception of the property value by residents is another factor. When they think it’s upmarket, they will project it as such and hence the same gentry occupy keeping the value high.

9. Limited Edition Villas

Look for villas that are not run-of-the-mill, which have unique architectural designs and are well perched. These limited-edition villas have a higher value.

10. Security

The security of the premise by its architectural design, security system services, smart home technology and the overall atmosphere helps to retain the value of a luxury property. The access to timely intervention and external help make it a value laden proposal.

Now that you have been oriented towards the top 10 factors to consider when looking for an opulent home, you can make a discerning decision of owning a mansion in the world’s most popular city. Get in touch with me on chirag@ushre.com / +971503544582.

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