Features Your Luxury Home Should Have

Features Your Luxury Home Should HaveFor those with a larger budget to spend on their property, investing in a luxury home can be a highly attractive option. Featuring amenities that other properties simply do not have, living in one of these houses or condos can provide an unbeatable level of peace, comfort and total indulgence.

When looking for a property that fits the “luxury” label, however, there are some specific features and qualities that you should look out for. These will ensure that you get the most out of your budget and find a home that you will love spending time in.

Firstly, any home with a “luxury” tag should come with great views; this is non-negotiable. Although many regular properties will have nice views of parks, gardens or even the sea or a lake, many also find themselves vi’s-à-vis neighbouring properties, busy roads, car parks and other not-so-pleasant scenery.

It goes without saying, therefore, that if you are paying a premium for luxury homes, there should be a vista to match. Many property developers will ensure that this is part of your package, with every building in the luxury property designed for extensive views over a variety of scenic areas – without looking into your neighbours’ windows.

A second feature that all luxury homes should have is easy access to local amenities. Again, the luxury label should mean that you are getting the best of everything, and this is why these condos or houses come at a premium. Do not settle, therefore, on a so-called luxury property which is inconvenient for you in any way, shape or form.

It is indeed possible to find these kinds of properties in downtown areas, near major parks, near quality schools and universities and within easy reach of public transport. When you are searching for top-of-the-range property, you should expect that what you are investing in is prime real estate in one of the best and most convenient areas of town.

Thirdly, your new home should offer you an excellent level of security. This can be in the form of an integrated security system throughout the property, or even a manned security post in the building, in order to ensure that residents feel safe and protected at all times. Security should not only extend to the condos or house, however.

If you have a vehicle, ensure that the luxury homes you are looking at offer secure – and preferably underground or enclosed – parking, as this will offer optimal protection of your vehicles. As luxury properties are potentially a target for crime, high levels of security are essential.

A fourth thing that you should demand from your home is all the latest and highest quality fittings, including triple-glazed windows, electrics, plumbing, heating and insulation. If you are splurging on buying your new home, the last thing you want is to end up spending on fixing faulty wiring or heating in a property that always seems to be cold.

As well as the looks of your home, it should also be highly functional. Make sure that the property developer has put everything in place so you can enjoy an unparalleled level of comfort and convenience in your new condo or house.

Lastly, all luxury homes should come with an exceptional standard of finish, whether this is in tiling,painting, parquet flooring, bathroom and kitchen furnishings or light fittings. For a property to truly deserve its luxury label, property developers should not have skimped in any of these areas, instead only choosing the most gorgeous and highly functional fittings.

When thinking of buying such a home, check with the property developer or seller who designed the home, which fittings were chosen and why, and where they were bought from. In new builds, you may also have the opportunity to add your own selection of finishes during construction, which is certainly one alternative way of getting a luxury finish that you are sure to love.

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Tips to Follow While Buying Property

Tips to Follow While Buying PropertyThe process of buying property can be very strenuous at times and it requires a lot of thinking while doing so. Thus as a property buyer you must make sure that you do all your research on the property you are buying and follow a few useful tips. These tips can help you a lot in the long run.

• Drainage sufficiency

You must mandatorily check the levels and whereabouts of the external drains. You must also make sure that the drains are accessible and are also completely functional. Water logging can be a very long term problem at times of rains. Thus by keeping in mind your long term requirements, you must check whether your area has sufficient drainage or not.

• The significance of the area

The place where you are buying your property might be having something that makes it popular. You must make sure that you notice all the ups and downs of this place before you carry on with the entire process. The area might be popular for having a pub or a bar or a kebab shop also.

• Is the place big enough for you

There is no pint investing in a property that does not satisfy all your needs and requirements. Having said that you must make sure that the property you are investing in is big enough to accommodate all the members in a very comfortable manner. This will not only give you a lot of comfort in the long run but you will also be able to live with a complete peace of mind.

• Is the structure of the building sound

The building must be structurally sound. It must have the capability of withstanding horrendous external forces like storms and tornadoes. This will increase the life span of the property and also its retail value. The structure of the property is also its foundation. If its structure is sound, you are making a very good investment. Otherwise you must think about it.

• Electricity

The electricity supply of that area must also be taken into consideration. The cost of electricity also varies from one place to another and you must take all these costs into consideration as well. In order to do so, you must enquire with the concerned people and gain as much as information as possible before proceeding with your investment.

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Tips for Inspecting a Property

Tips for Inspecting a PropertyBefore buying a residential property, it is a must to do a personal inspection. This is important so you would know the real condition of the property, areas that need repair, potential problems and if it is indeed worth your money.

Potential buyers should take a step further when attending an open house and personally check the details of the different parts of the property. Spend as much time as possible viewing the home to give you a better idea and feel of its atmosphere. One needs to be thorough when doing those maintenance checks to ensure you are buying your dream home.

Also, it is a good idea to make a list of the areas of the house you feel are important to you so you won’t forget to check them when you’re already in the property. Bring a notebook and write down specific features. If you want to take photos, ask first the permission of the real estate agent or the owner, if available.

Here are vital areas worth checking. Make sure to write down your observations as you go around the house to serve as your guide when making a decision.

Ceilings

When you look up at the ceilings, they need to be fixed securely into place with no bloated or parachute appearance. To double check this part, you can shine a torch across the ceilings. This technique will let you see defects in the sheets, if any.

Walls

Carefully look at the walls, both internal and external. Check for any large cracks and if you see cracks larger than 2.0 mm in width, they need to be checked by a building inspector.

Do not forget to also check the internal wall plastering for fine cracks. These hairline cracks are often due to the incorrect application of wall plastering when the house was built. When you see these cracks in one area, they are most likely in other parts of the house too. And take note that they can get loose notably when installing wall decors including paintings.

Roof

When it comes to the roof, there are several sections you need to take a deeper look at.

First, check that the rooflines are straight with no deflections. Second, the roof gutters should not be corroded and this can only be determined if you check the top side. Thirdly, check that the downpipes from the roof discharge into a stormwater soak well and not just onto the ground. Determine if flooding or excess water flow is a problem as this indicates the soak wells may need cleaning or are not properly sized.

If you have still doubts after inspecting your desired property, get a professional building inspector to help you. This person will issue a report to you on the real condition of the property specifying problems and areas that need to be fixed.

You can also get the assistance of a buyers advocate who is more knowledgeable about the process of buying a property and inspecting it thoroughly for your benefit.

Tax Rules for Home Buyers

Tax Rules for Home BuyersIf you’re one of the many Canadians who dream of home ownership, and you’re working hard to make this goal a reality, you should know that the Canada Revenue Agency has two programs that can help you get there faster.

There is the First Time Home Buyers’ Plan. Because the required down payment on a house purchase can be a stumbling block, the government will actually let you borrow the money to put down on your dream home – from yourself.

Under the rules of this program, you would be allowed to take money out of your RRSP to help buy your home – up to $25,000. This money will remain sheltered from tax, so long as you pay it back within 15 years. This is a great way to put your retirement savings to work for you today, without the considerable tax consequences of withdrawing it outright. The only downside is that you won’t be earning interest on your investment, but that might be outweighed by the interest cost saved by using your own money instead of a loan.

Another helping hand for new homeowners from the CRA is the First-Time Home Buyers’ Tax Credit on your tax return. It’s a non-refundable tax credit that can put money in your pocket by reducing the amount of tax you owe for the year in which you buy your house.