Luxury homes are a great option if you are looking for a long-term investment with a larger investment amount. We focus on homes that sell for under $10 million because they have a wider range of buyers. Since Florida continues to be a prime location for luxury homes, these projects have the potential to yield great profits.
The process of building a luxury home starts with finding a suitable land to build on. This may be an open lot or an existing home, which we would tear down in order to build a luxury home to sell. Our team is highly selective and skilled in scouting prime locations, focusing on areas such as Miami, Naples, Tampa Bay and Palm Beaches.
Before initiating a purchase, we analyze the location, area market price, zoning code, lot size and buildable square footage. Our experts estimate the costs to build in comparison to the anticipated sale price, to ensure a profitable end result.
MIAMI
Real estate has long been considered a safe environment, whether you own, flip or rent. If you want to expand your portfolio, luxury real estate is the best place to start with big returns.
Luxury real estate is not considered luxury just because it is expensive. It must be unique, exclusive and perceived as superior.
High-end buyers want access to luxury activities such as shopping, dining and the arts, as well as proximity to other luxury homes.
Luxury real estate investors can flip a mansion, invest internationally, buy a luxury condo, buy a high-end vacation property to build from scratch.
FT. LAUDERDALE
High-end buyers desire many of the same features that all buyers want but on a grander scale. They want privacy and security, sometimes to the point of seclusion. They want beauty inside and out and can afford custom architecture, custom design over-the-top attention to detail and opulent finishes.
They also want amenities on top of amenities: a chef's kitchen, luxury pool, expansive owner's suite, outdoor living space, home automation, motion detectors, car lifts, temperature controlled wine cellars, waterfront view and boat ramps. Many want space, however it is not necessary to be considered a luxury home.
SARASOTA
When choosing a luxury home it is important to think about the aspects of the property that cannot be changed.
You can not change the path of the sun, location of the ocean or that there is a large flight path that is above the home.
Luxury real estate prices are hot and have been soaring. With the wealth of the world's richest people growing, it seems that the market for luxury real estate is larger than ever.
In a market where prices are lower, you could need as little as half a million to own a piece of luxury real estate. You will need at least $1 million to buy a piece of luxury real estate in major cities throughout Florida.
PALM BEACH
If you want to invest in luxury real estate, there are several paths you can take. Whether you buy for yourself, rent or flip here are some options:
-Flip a mansion -Invest internationally
-Buy a luxury condo
-Buy a high-end vacation rental
-Complete a custom build
Remodeling existing luxury properties is an option that may have potential for a higher return on investment. You are still limited to properties in the inventory that have just the right mix of architecture, condition and style.
Luxury homes tend to be more well-maintained than non-luxury homes, which means there is potential for less rehabilitation costs.
Tampa Bay
A custom built home offers the highest profit margins although it often has a longer time frame. A home where everything is new and has today's most desired styles and amenities is crucial to getting top dollar.
If you are not building the home for yourself, be careful about how you customize. You will want to select a layout, amenities and finished that will appeal to a broad segment of the luxury market to maximize your chances of selling quickly and for top dollar.
Ensure the home is functional, welcoming and has the security and privacy features that high-end buyers want.
Luxury homes tend to be more desirable when they are less customized.
NAPLES
Identify your goals: the goal of investing in any real estate is to earn a return on your investment. When choosing luxury properties, consider the outcome you want. If you want a quick return focus on flipping and if you are looking for a long-term return focus on luxury apartments.
Figure out financing: Even if you have cash on hand, it is not always the best option. A hard money loan might be appropriate to finance a flip that you plan to complete within a few months.
Choose the right market: If you invest in a seven-figure property, make sure the market will support your decision. Look at the job market, cost of living, median household incomes and the areas economic outlooks. If it is going to be a rental, you must consider the year-round and peak-season traffic.
