When an individual has found success and has been able to increase their wealth, one of the most popular things to do is to buy a luxury property wherever they are living or moving to a new city and buying a luxurious property there. Owning a luxury property is an experience that our team at Your Home Sold Guaranteed Realty - Nancy Kowalik Group can help you have, especially when you take advantage of our FREE hotlist of luxury homes for sale in South Jersey.
If you are looking to invest in a luxury property in South Jersey, it is important to know exactly what defines a luxury property so that you can give your realtor all of the details needed to search for great homes and you are able to find the perfect home for you and your family. Our team of expert realtors is happy to provide you with all of the assistance you need, and it is our goal to ensure that you are 100% satisfied with your investment.
Qualities of a Luxury Property in South Jersey
To begin, let us discuss the qualities of a luxury property in South Jersey. Although it is often the case, a luxury property does not necessarily have to be a huge home. There are many characteristics of a luxury property, in addition to the size of the home. These qualities include:
- Beautiful, ideal location
- High price
- Plenty of acreage
- High-end building materials (exterior and interior)
- Professional interior design
- Luxury amenities (large walk-in closets, huge bathrooms)
- Rich history
- Technological innovations
- Unique and specialized rooms (gaming, man cave, in-home gym, theater)
- Outdoor entertainment and amenities (pool, deck, outdoor kitchen/grill, wine/beer fridge, bar)
- Privacy and exclusivity of the location
- Security
All of these qualities contribute to the establishment of a property as luxury, even if all of them are not included in the home that you are considering buying. Even just some of these characteristics can make your home considered luxury in South Jersey, and our realtors are happy to help you find the perfect luxury home for you.
Types of Luxury Properties
In addition to the many qualities that define what a luxury property is, there are several different types of luxury properties that you may find in South Jersey. Some of these types include:
- High-end apartment and penthouses
- Luxury villas
- Estates
- Historic properties
- Luxury hotels and resorts
- Private islands
Whatever type of luxury property you are looking to invest in, our team can give you the real estate assistance you need to find the perfect property for you and your family. We will listen to your specific needs and desires and make sure that the properties we show you match your criteria and preferences and are also within your budget.
What Are the Characteristics of a South Jersey Luxury Property Buyer?
Luxury property buyers do not necessarily have to be the typical millionaires that you will find on Wall Street. “Baby Boomers” are beginning to sell their multi-million dollar properties in favor of smaller (yet still luxurious) homes that are still close to city centers and hubs of activity in the community. As they downsize, the older “millennial” generation is starting to make the investment in these large properties for themselves.
Another integral market for luxury property investments is the older millennial generation which is purchasing a property which is actually more expensive than their current home because they will be renting it out on such sites as VRBO and Airbnb. These homes can be rented out for vacations at a very high price point, so these owners can have a great source of income. As long as the locations of these homes are close to modern entertainment amenities and in-town conveniences, the home buyers can rest assured that they have made a wise investment decision.
What Does the Global Market Look Like for Luxury Properties?
Although large cities like New York and Miami will always be hubs for luxury properties, one of the emerging global markets for luxury properties is in second-tier urban locales such as Austin and Asheville. They are experiencing a rebirth in popularity, and modern adults are turning to those cities to have a different type of lifestyle experience in a city.
Additionally, other urban locations that were once considered “gritty” are having a renaissance which is boosting the price points of properties in those areas. Locations such as parts of Brooklyn and the Hudson Waterfront in New Jersey are becoming very popular because you can find great properties at affordable prices – for now.
While the extremely popular cities will always have plenty of luxury properties that will buy and sell for millions of dollars, the future trends in luxury real estate show that less well-known cosmopolitan communities and remote destinations will be the up and coming hot spots.
What Are the Best Ways to Market a Luxury Property?
If you happen to be selling a luxury property in South Jersey, it is important that you market your property to the proper home buyers. There are several challenges that come with trying to sell a high-end property because it requires getting the attention of a specific type of home buyer and convincing them that your property is the right kind of luxury that they are looking for in South Jersey.
Some of the challenges of marketing a luxury property include:
- Pricing it correctly for the location and current market
- Slightly underpricing it will ensure that your property does not fall outside of a home buyer’s price range
- Negotiating can always boost the price
- Branding your property as luxury
- Emphasizing the aspects of the property that are considered luxury is an ideal way to make sure the branding is appropriate and effective
- Marketing and advertising the property on the right channels
- Knowing where luxury property owners are finding their properties will ensure that your house is seen by the right home buyers
- Making sure home buyers understand the costs
- Buying a luxury property often comes with additional costs that home buyers may not be aware of such as HOA fees, property upkeep costs, taxes, hiring a staff, and others
It is wise to enlist the assistance of an experienced realtor whose expertise also falls into the luxury property category. Not every realtor will have the ability and know-how to properly market a luxury home and ensure that it sells for its full value on the current real estate market. At Your Home Sold Guaranteed Realty - Nancy Kowalik Group, our team of expert realtors has knowledge, skills, and experience working with luxury properties, and we guarantee that we will get your home sold fast and for the highest price possible in South Jersey.
Contact Us to Handle the Sale or Purchase of Your Luxury Property in South Jersey
If you are considering buying or selling a luxury property in South Jersey, be sure you are only working with experts. Our realtors have vast experience dealing with luxury properties, and we are certainly happy to put our skills and knowledge to good use for you and your family. Get a free list of luxury properties easily here.
To learn more about luxury properties in South Jersey or to start your real estate journey, be sure to give us a call at (856) 478-6562. You can also fill out the form below with the requested information to receive a detailed response from one of our skilled realtors. We look forward to hearing from you and helping you begin your quest to buy or sell a luxury property in South Jersey.