August 30, 2018 | Buying
Investing is an art, and becoming an investor is its own discipline. If you’re just getting started, or looking to build an even stronger portfolio, investing in luxury real estate is an exciting avenue for opportunity. After all, you’re dealing with investing in some of the best properties in the world – stakes are high, but so are the returns.
Any agent can tell you to invest, but here are the steps you can take to start investing in luxury real estate today…
Understand Luxury
To put it simply, a luxury property is any property that attracts a high-end buyer. While these properties might differ from place to place, they’re often determined by their size, the views they offer, and their proximity to exclusive amenities (like the theatre, shopping, or restaurants). If you’re looking for properties that offer the finer things in life, Toronto is a great place to start.
Discover the Market
Is now the right time to start investing in luxury real estate? You might have been keeping a close eye on the market, but how do you know if now is truly the right time to make a move? Investments need to be made based both on your finances and your timelines so that your return comes in a timeframe that is comfortable for you. Is now the time to strike? Our boutique approach to investing can help find out if things are lining up for you.
Know Your Finances
Investing always starts with your bottom line. Investing in luxury real estate obviously demands higher sale prices, and if you’re not ready to pay top dollar you might not be ready at all. The important thing to remember is that it’s not necessarily about how much you’re spending right off the bat, but the return you’re able to enjoy if you make the right investments.
Assess Your Options
Where do you want to buy, and what do you want to buy? Are you thinking about purchasing a luxury home, flipping a mansion, or buying a luxury condo in the heart of downtown (or in one of Toronto’s other prosperous pockets like Liberty Village or Yorkville)? There are plenty of options in a city this big, which is why you should know all of them. Start thinking about where you might like to start, and then access the expertise to fully decide what’s right for you.
Work with The Best
Investing in luxury real estate comes down to having the finances, and having the network, to identify, uncover, and pursue opportunities that make the grade. You need to work with agents who not only have experience in helping clients invest, but are connected in ways that find opportunities that other agents could only dream of having.
Once we get the chance to talk, you’ll see that we can help you grow your portfolio. Contact us at 416-487-5131, email us at max@taycapproperties.com, or book an appointment here to start today.