With the housing market rebounding, many people are looking to buy vacation properties. While there are some low budget options, why not buy a luxurious property with all the comforts of home and then some? Here are 8 reasons why you should buy a Luxury Community Lots for Sale for your family vacations. If you want a new luxury property to live in, then check out these luxury apartments.
1. Luxury Market Is Less Sensitive To Economic Fluctuations
The housing market is fickle and with the recent nosedive in the economy, foreclosures were everywhere. However, luxury homes don’t seem to take as much of a hit during economic hardships. This is partly because they are homes that are meant for a specific clientele. The people that can afford and look to purchase luxury homes are those that have sound financial knowledge and have made good decisions. Because of their due diligence, these people have the money to support such a fabulous vacation property. The location of these homes also helps their market value remain steadfast. They are usually in areas that are highly desirable and considered to be posh.
2. Buying A Luxury Home Cost Less Than Suite Rentals At Resorts
If you consider the cost of a luxury suite per night while on vacation, it can be quite expensive. If a family travels a great deal, they may need to look into a luxury vacation home. Not only will it give them more room than hotel suite, but it also can be very cost effective. Some hotel suites in popular resort areas can run anywhere from $600-$2,000 a night. For a one week stay, the cost could exceed $10,000. These resorts costs are based on amenities and location and can be quite unreasonable. If a family is at a certain location often, a luxury vacation property management purposes is necessary.
3. Can Be Used As Vacation Rental Property When Not In Use
If you or your family can only go to the vacation home at certain times during the year, then renting it out may be wise. Many people can rent their home out through online services or management companies and make more than the monthly mortgage. It is a great investment idea that allows a family to own a luxury home and also have use of it when needed. Renting can be a headache at times, but the caliber of people that can afford the luxury properties usually weeds out common issues with the undesirable vacationer. If the home is located in a popular vacation destination, then there should be no problem renting it for a great rate.
4. Great Tax Write-Off For Those Who Need The Extra Deductions
For those who want to use their luxury property to make money, it can become a tax deduction. Renting the home out regularly turns it into an investment property. These types of properties are allowed to be financed with the same rate as if you were to purchase a primary residence. Not only can you deduct interest paid, but repairs made to the rental and any upkeep may also be deducted. This is a big attraction for buyers who want to utilize the space, but also want to make sure that their using their investment to make money.
5. Luxury Homes Are Packed With Amenities
One of the reasons that you probably like the posh suits in a hotel is because of the amenities. People love hot tubs, swimming pools, tennis courts and all the other extras. A luxury residence can have many of these things on the grounds. Most luxury homes have a swimming pool and hot tub combination. The higher end homes can have a work out facility, steam room, Movie Theater, even a bowling alley in them. While it may take some research, it is easy to find a great home that has similar amenities to a fine resort.
6. Can Be Large Enough For Extended Family and Friends
Another perk to a luxury home verses a typical vacation home is space. Oftentimes, these homes have a large amount of bedrooms and bathrooms. They are big enough to bring along grandma, grandpa, aunts, uncles and friends. Finding a space that is large enough to accommodate many people is a great way to have memorable vacations. Friends will love that they don’t have to pay a fortune in hotel costs.
7. Being In A Safe Area-With Private Access and Other Perks
The location of the luxury vacation home is definitely a perk. It is probably considered luxury for two reasons, the amenities and the location. People who pay great amounts of money for a vacation property want it to be in a great area. These areas are often gated with amazing security. They can be backed up to a golf course; tennis courts or has other community courts and such within walking distance. If you want a tennis court installation for your home, contact a tennis court builder now. Moreover, when dealing with beach front homes, they may not be gated, but they have the best view Mother Nature has to offer right outside their door.
8. Can Be Great For Re-Sale
While it may be more cost effective to buy that fixer upper for a vacation property, it may not be beneficial in re-sale. Homes that are considered luxury properties in good communities are easier to market and sell. This is especially true if it is in a highly desired resort area. People are always looking for homes close to the action and if your home is amazing, stocked with amenities and close to the center of a vacation area, there should be no problems selling. If the property appreciates, it is a sound investment.
Written by Alissa Young, a home design expert and a part time blogger. If you are interested in articles related to real estate, you can find some here.