Luxury real estate in Ontario is the perfect Christmas gift!
Everybody knows London, Ontario is the place to be in Canada! Ontario is home to some of Canada’s greatest landmarks including the CN tower, Niagra Falls, and 4 of the 5 Great Lakes. Experience all of this when you own luxury real estate in Ontario.
If you’re new to the luxury market this article is for you. The MYLIE Group has created a list of tips for buying a high-end property.
Continue reading below to discover what’s possible with luxury real estate in London, Ontario, and some guidance!
What makes a home luxurious?
A home’s luxuriousness is dependent on several key factors. In Ontario, there are numerous opportunities to purchase a high-end property. Real estate that is considered to be luxury often has 1-2 or more of these items:
- Great location
A superb location is the essence of an opulent property. Location determines how the owner can entertain their guests, what they can do in their spare time, the amount of privacy available, and how much they can list the property for. Proximity to local amenities is a huge deal when it comes to luxury real estate.
- Superior amenities
Amenities are a staple in high-end properties. These amenities should give the buyer a unique ability to easily experience what the average person cannot. Moreover, these amenities should make it simple for the buyer to live, work, and play from the comfort of their own home. For instance, an indoor pool, sauna, sports court, waterfront access, home theatre, etc.
- Large Price Tag
Luxury real estate in Ontario is far from affordable. Although, it is possible to get a great deal if your hire a MYLIE Group real estate agent 😉 High cost is typically associated with buying a luxury property. Yet, not every house is worthy of its listing price. Extravagant cost is usually paired with 1-2 other items from this list in order for the property to be deemed luxury.
What makes a home luxury cont’d…
- Extensive Square-Footage
Size is another tell-tale sign of luxury real estate. Many luxury properties boast a vast floor plan. This is typically to allow for all of the amenities. And, to ensure adequate privacy for the homeowners. Privacy is a key element in most affluent homes. Though, much like the cost, size doesn’t always equate to luxury.
- Unordinary Design
High-end buyers want real estate that is refreshing, unique, and innovative. The architecture and layout must challenge design norms. All whilst still maintaining functionality and cleanliness. This is why design is such an important aspect of a luxury property. Every minuscule feature must be taken care of; from the architecture to the execution. Often, the singularity of a property is what grants it the label of luxury.
- Quality Materials
Much like anything, the materials used to design a house are crucial in areas like quality and appearance. In real estate, building supplies could be the difference between brick and faux brick, hardwood and laminate, etc. The quality of supplies used will affect the looks of the home and its longevity. Both of which, will directly contribute to the resale value of the property.
The cost of luxury real estate Ontario.
The cost of luxury real estate in Ontario is impressive. Buyers can get purchase a luxury property for anywhere from 1 million to 30+ million dollars. Depending on what you’re looking for, most luxury buyers will get what they’re looking for between 2-4 million dollars. However, it is all up to your personal preference and estimated budget.
How to invest.
Buyers can invest in luxury real estate in a multitude of ways. If it’s not a feasible option for you to pay cash, or if you’d like to profit off of your investment right away try one of these solutions:
- Renovate a Mansion
Flipping a mansion is a great way to turn an already exceptional property into a luxury home. You can do so by incorporating lavish materials and remodeling to add more amenities. Constructing a gym, or a home theatre can push you into the luxury market.
- Rent out Your High-End Home
Renting out your property when you aren’t there is an efficient way to front some of the costs of owning luxury property. Hire a property manager and market your home to individuals looking for a luxury vacation.
- Build your own luxury property
Building your own luxury home is unlikely to be cost-effective, however, the build can be extended over a longer period of time. In turn, making it more possible for some folks. You will also be able to design every aspect to guarantee that you get exactly what you want for your luxury property.
Buy luxury real estate Ontario now!
Luxury real estate Ontario is the perfect choice for your next real estate endeavour. For more information on getting a luxury property, contact us today. Be sure to check out our MYLIE Group Instagram page for the latest updates and more. We’d be happy to help you find an awesome high-end property in Ontario. Feel free to reach out to us at any time, we look forward to working with you soon!