Las Vegas is famous for its vibrant nightlife, fine dining, shopping, gambling and entertainment experience. But, do you know that it is known not only as the entertainment capital of the world, but also for its million-dollar luxury real estate market? If you are thinking of investing in a new property, now is the best time to do so.
More and more sophisticated home buyers are coming to Las Vegas, so we expect that the luxury estate market will continue its hot streak this 2020. However, before making a huge investment, there are several aspects you should first look into.
1. Details About the Neighborhood and Community
Sure, you already chose to work with a luxury real estate professional, but that doesn’t mean that you’ll leave everything to him or her. Do your homework. Research on Las Vegas properties online, and check out the type of residence that you want.
Aside from Las Vegas real estate listings, look for successful real estate professionals that have their own websites, YouTube channels and social media pages. These platforms are great resources that allow people to explore various neighborhoods.
2. A qualified, experienced luxury real estate agent
Work with a luxury real estate agent who knows a lot about Las Vegas, as well as the homes and exclusive communities within your budget. This passionate and knowledgeable agent must be able to discuss with you several options within your price range.
3. Luxurious Character
Luxury home buyers in Las Vegas love customized woodwork such as panelled ceilings and walls. It brings out that old-world charm to a property, making people feel relaxed. In addition to that, many buyers are gearing towards extra molding on chair rails, ceilings and baseboards. These elements are considered beautiful and luxurious.
4. Financial Considerations
The amount involved in purchasing a luxury property is substantial. Thus, see to it that you have covered everything when it comes to financial matters. Decide if you want to secure a mortgage, or pay cash. Cash is still the number one option when buying a luxury home, whether in Las Vegas or not. For those considering mortgages, prepare yourselves for a strict, overwhelming process. Strict lending rules are always implemented, most especially for the self employed.
5. Home Inspection
Luxury homes in Las Vegas come with advanced technology, state-of-the-art appliances and good features. Are the features of this residence important for you? In what way can it help your routine? Are the features a perfect fit for you and your family? Home inspections are crucial, and can reveal the maintenance and upgrade costs you are likely to bear in the future.
6. Available Technology
Homeowners are obsessed with technology. Having the ability to control climate, close garage doors, lock doors and control lighting from your phone are just amazing and convenient. So, what state-of-the-art equipment can you install or upgrade in this luxury real estate property?
7. Resale Value
At some point in the far future, that luxury home of yours will be up for resale. Don’t just choose according to what appeals to you now. Be aware of its potential future resale value. How much will it be worth for its next buyer?
8. Customized spaces
Every luxury residence must have a dedicated space for yoga, movies, exercise and other exciting activities. Should you set up a dedicated space for yoga or reading? What about that area where you can host parties? You wouldn’t want to host social gatherings inside your bedroom or in the family room!
9. Designer Kitchen
A high-end designer kitchen is a must-have for every luxury home in Las Vegas. The fanciest restaurants are just around the corner, but there’s a different kind of joy in cooking and baking in your own beautiful space. Most kitchens include warming drawers, walk-in pantry, wine fridge and gas range.
10. Sophisticated Architecture
A home with a timeless, sophisticated architecture will make you feel comfortable and contented for many years to come. Just like customized areas, good architecture makes spending quality time with friends and family easy and convenient.