Luxury Real Estate Victoria BC
Looking for luxury real estate Victoria BC? Something with heated floors, backyard putting greens, tennis courts, golden fixtures in the bathroom, and all the goodies of the ultra-lavish lifestyle seen on MTV Cribs?
Although there are high-end, luxury houses for sale in Victoria BC, the majority of luxury homes sold, however, whether they’re houses for sale in Victoria BC, or anywhere else, generally don’t conform to this picture.
According to a study conducted by Coldwell Banker Previews International, the majority of people living in luxury homes are younger baby boomers who typically work for corporations and have household incomes between $200,000 and $500,000. They also don’t have the goodies mentioned above. Only 5% had a personal assistant, 4% a live-in housekeeper, and just 1% a driver.
Further, 70% of the respondents owned or were considering purchasing a second home. The most common reason seems to be investment. These homes are enjoyable investments that provide tax benefits and safety that stocks don’t. Some common features in the homes of those surveyed were designer kitchens, original artwork, and wine cellars-all of which can be seen as additional investments.
Of the second homes, more than half were in areas that could be considered recreation locations, 32% in oceanfront locations such as can be had with a lot of higher-end Victoria, BC, real estate. Additionally, a good percentage of these baby boomers don’t plan to retire to their second home until they are older. This isn’t the picture of luxury-home owners we typically get from TV and movies.
Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada avers, “Recovery in the upper end has been nothing short of remarkable,” especially in the Greater Vancouver and Victoria markets. Economic performance and growing consumer confidence have contributed to this phenomenon. A lot of it, though, has to do with investors looking for the safety of tangible real estate and wanting to avoid the volatility of stocks seen in 2008. But it still takes some savvy marketing and a good Victoria, BC, realtor to close the sale.
A realtor who knows the Victoria, BC, real estate market and the concerns of buyers looking for a luxury home as an investment can be an invaluable asset. A good realtor can do the following:
- Offer guidance throughout the whole process
- Provide a comparative market analysis (CMA) to determine the best price
- Work up an effective and practicable marketing plan
- Make sure you get exposure to the maximum number of qualified buyers
- Assist in preparing an enforceable contract
So, contrary to what’s portrayed on TV and in the movies, most prospective luxury home buyers are looking for a high-end home that is also a sound investment. Of course, everyone who’s looking for luxury real estate Victoria BC wants it to be more than just an investment – it’s a lifestyle.