5 TIPS FOR LUXURY HOMEBUYERS
Are you looking to buy a luxury home or own a property?
The market for luxury homes in Nigeria is a specialized submarket that can be challenging to navigate due to its unique characteristics. With the advice that we are about to give you, the transition into the experience of luxury living will be as smooth as possible. There have been many new projects and additions to the market recently, and these are coming from a relatively small pool of premium homes.
In neighborhoods that fall into the higher quartile, real estate developers are consistently introducing novel projects catered to the luxury market and expanding the range of available alternatives for residential property types.
Here are luxury homeownership tips that are quick-win strategies for becoming a landlord.
Location and lifestyle – Luxury is a lifestyle. When it comes to prestige, nothing beats a luxury residence. The location of a luxury property or home you choose to purchase will determine the lifestyle to adopt. It could be a water view, a penthouse with a panoramic city view, a country home etc. The location you chose will influence your lifestyle.
Be patient – The finest offer on a luxury property that is worthwhile in terms of functionality, amenities, and preferences can take some time to find on the market. Interestingly, the market is unique to narrow your search as the market is still a growing in Nigeria. Investing millions of dollars in real estate should not be treated flippantly.
Title Document – do your due diligence about the property by finding out what title it confers and in the case of a deed of assignment, find out the unexpired term.
Investigate the property – Asking the proper questions is an important part of due diligence. Who are the developers? How is the building financed? Does the property follow zoning and building codes? When will the structure be finished? Etc. It’s vital to ask the appropriate questions, but it’s even more crucial to get professional advice.
Engage the services of an experienced luxury realtor – At Fine and Country, we are conversant with the affluent neighborhoods that are located within our market region and have an understanding of the intricate processes involved in negotiating and purchasing luxury real estate.