The Luxury Property Checklist
The Luxury Property Checklist
May 7, 2021
Whether a first-time buyer or seasoned investor, buying a luxurious property can be both an exciting and daunting time. Multifaceted aspects need to be taken into consideration as it involves a substantial amount of investment.
I share my insights on the main aspects to consider when evaluating luxury properties and moving forward with the right villa purchase that also retains its resale value. I discuss the top 5 factors that define the intrinsic value of luxury properties:
1. Quality of property and construction
What sets apart a renowned property-developer is the quality of construction and the materials used such as marble floorings, wall fittings, state-of-the-art kitchen appliances, smart home systems and more. They give you a feel of how sophisticated the property is. A high quality, well-structured property will surely prevent you from facing major renovation expenses. So, you need to consider each aspect of the construction for quality living.
2. Type of ownership
You need to know the type of ownership, whether it is leasehold property for a period of 100 years or less, and who owns the land (freeholder). Examine the terms of sale, background of the previous owners and if a clean title is given to the property? Also inquire on the various post-purchase service charges associated with the property and the recurrence of such expenses.
3. Quality of appliances and fixtures
Check out the brand of electrical appliances/fixtures, their features and warranty periods. They should be easily repairable or replaceable in case of any faulty functioning. Quality brands imply durability and longer warranties.
4. Amenities for luxury life
Does your property offer high-end amenities such as a swimming pool, jacuzzi, gym equipment, patio and ample outdoor space? Are there lush landscaping and verdant garden spaces that allow family time and parties in the evenings?
5. Access to Property infrastructure
Are there supermarkets, clinics, restaurants, fitness centers and recreational parks in the villa community? Are children’s playgrounds available and is it a safely guarded and gated community for children to play in. How accessible are nurseries, schools and public transport facilities? Are the metro or tram stations in proximity or within walkable distance? These are just a few options to consider. Your list of desired amenities depends on what factors are important to you.
In my subsequent article, I would talk about 5 other allied factors that are essential to evaluate a luxurious property. Stay tuned…
Now that you have gained clarity on the aspects to evaluate when purchasing a villa, you will be more confident with your purchase decision. If you want to capitalize on the benefits of investing in the ultimate project, do get in touch with me on email@example.com / +971503544582.
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