Whether you’re looking at an eight-bedroom ski chalet in Park City, Utah or a sprawling mansion in the Hollywood Hills, there is no doubt that luxury real estate is a hot market.
According to Investopedia’s Tips for Buying Luxury Homes, the number of homes in California selling for $2 million or more reached an all time high in 2013.
With housing prices on the rise, it may seem like a bad time to buy real estate at all, let alone luxury real estate. However, there are quite a few reasons why buying a luxury home now is a good idea.
1. Interest Rates Fluctuate
Although housing prices have risen in the past year, interest rates are still incredibly low.
According to Bankrate.com, 15-year fixed mortgage rates are as low as 3.32% or 3.34%, with 30-year fixed rates coming in at 4.13% or 4.14%.
These rates are lower than those in mid-2013, but considering the spike in rates between 2012 and 2013, it’s best to buy before the market fluctuates again.
2. Exceptional Amenities
Many luxury home communities offer residents excellent amenities, including swimming pools, fitness facilities, tennis courts, clubhouses, restaurants, and more.
The Rancho Santa Fe Golf Club, for example, is a private members only club that offers an 18-hole course and a first class golf experience. The Club is available to residents of the Rancho Santa Fe Covenant.
Though luxury real estate most certainly means a higher price tag, having these facilities in your residential community can make your evenings and weekends incredibly relaxing and stress-free.
Of course, many luxury homes have amenities within themselves. Take, for example, this luxury home in Rancho Santa Fe, located at 16648 Circa Del Sur and currently on the market. Its outside amenities include a fireplace, barbecue sitting areas, and inviting resort pool and spa.
3. Wonderful Views
No matter where you buy luxury real estate, it’s guaranteed that the views surrounding your home will be stunning, and the landscape, full of beauty.
From Miami’s famous South Beach to the mountainous ski town of Aspen, Colorado, you’ll find that luxury homes are never without a view.
After investing in a luxury home, you will no longer have to go further than the comfort of your own bedroom or living room to appreciate the beauty of your surroundings.
4. Stunning Homes
Buying a luxury home often means that you don’t have to worry about remodeling, getting new kitchen counters, or repairing that door to the backyard.
Luxury homes are, more often than not, new, beautiful, and often decorated with impeccable style and grandeur. When you invest in a luxury home, chances are you won’t have to lift another finger.
Many luxury communities boast security gates and guards, as well as a night patrol for the entire neighborhood.
If you have the option to buy a luxury home, safety is an added plus point.
When you no longer have to worry about safety, you can free up your time and energy to spend on other activities. Additionally, you will gain incredible peace of mind knowing that you and your family are safe in the community you live in.