How to Choose Where to Buy Luxury Real Estate
When deciding where to buy a luxury real estate home or a vacation home, ask yourself this: Do you love the location where you plan to purchase, and how often will you be able to use your home?
If you love the area and know you’ll use the property multiple times a year, then you are probably in the right market to buy luxury real estate of your choosing. Often times people purchase a second or third home just because it is a great deal and they assume they will like the city.
Don’t fall into that trap. Get out there in the area where you plan to purchase. The majority of buyers who purchase second homes spend three to five years vacationing in the market they are considering. Become familiar with the local community, the people and the culture. Make sure they have the retail and food establishments that you want. You have to eat after all!
Another consideration is whether the location is within a reasonable flight or drive away. Most vacation home owners purchase within two hours of their primary residence. Your second home does not have to be that close, but make sure you can get there for a good amount of time each year. What is the point of having a second home if you can’t use it?
If you love the city and think it is within a reasonable travel distance, then you know that is the market for you to buy luxury real estate. Next step is finding the home. We can help with that. We specialize in high-end second home enclaves: toes in the sand (think Hawaii and Orange County), skis in the powder (Telluride, Jackson Hole, Big Sky, …), and any other luxury lifestyle you seek.
And if you buy luxury real estate at auction, you are assured the market price on auction day and can feel confidence that you will not be overpaying for luxury. Choosing the right market — and loving it without doubt — is one of the first steps in winning a luxury real estate auction. Buyers who fall in love with the properties and plan to enjoy them with family and friends nearly always end up the lucky winners.
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