There has never been a better time to consider investing in luxury real estate. As the market climbs back from a housing bubble busts and resets itself, those who wisely buy in now can reap the rewards later. And by later, that's not too far off in the distant future. Learn about five leading reasons to consider getting on the luxury real estate bandwagon in this article.
Lowest Prices on Luxury Real Estate in Years
That old time term of it being a "buyer's market" rings resoundingly true here when it comes to luxury real estate and making a smart purchase. On a national scale, luxury real estate is more affordably priced today than it nearly ever has been, and in the entire history of real estate. As homes move slowly to buyers, sellers become wary and eager to sell, which equates to reduced prices on even the finest of homes. This also conglomerates the market with reduced price luxury real estate, an enticing treat for a buyer that is seeking to walk into any purchase with a substantial amount of equity.
Larger Inventory to Choose From
The national inventory of luxury real estate and homes that is available today is impeccably vast and delectable. Unlike times past, these days the luxury real estate catalog is bursting at the seams due to market decline in recent years. For the buyer, this means several things. First, it means more options when shopping for luxury real estate. Secondly, it means better prices on luxury real estate. Lastly, it means that it's easier to actually get into that dream home than you might think with so many options available.
Mortgage Rates are Historically Low
For those seeking to finance that luxury real estate purchase that they are intent on making - and most people will finance their home - they can take solace in knowing that they can enjoy getting a historically low interest rate on their home mortgage. Creditworthiness notwithstanding, the national average interest rate on home mortgages has never been as low as it is now. For qualified buyers, this means that they can enjoy a fabulously low interest rate that saves them uncanny amounts of cash over a 15 year term or greater.
The luxury real estate market - and the market as a whole on the national scale - is regaining its value. As the housing market bounces back slowly but surely, the appraisals and numbers will continue to rise. A home is one of the safest investments that a person can make. And considering that, historically, real estate has been an accruing asset form, it's safe to say that your investment is rather safeguarded moving forwards, as the marketing regains the luster that it once had.