Affordable Luxury Homes: Misnomer Or Realistically Achievable?
There’s no denying that the housing market offers potential home buyers many choices and options these days. Whether you want to buy a small property or a sprawling country manor, there’s something out there for everyone.
But what happens if you want to live in a luxury home? Is such a goal even realistic, or are you just setting yourself up for disappointment? Strangely enough, it can be possible to purchase a luxury home that won’t break the bank. Keep reading to find out how!
Earn more money
It might seem like an obvious statement to make, but the first thing you should do is increase your annual income. When you earn more money each year, you can put a bigger deposit on your next home and subsequently increase your future property choices.
How you earn that extra income, of course, is up to you. For example, you might elect to get a better-paying job in your current industry. You might even pursue a different career path and get qualified to do more specialist roles.
Some people even choose to become part-time entrepreneurs alongside their day jobs. Whatever you do, be sure that it’s a good match for your skills and lifestyle. Don’t burn yourself out or do something you shouldn’t because you want to live in a luxury home!
Improve your credit score
Next, you should work on improving your credit score if yours isn’t up to scratch. Sometimes, you might find mistakes on your credit history that are hampering your efforts to get a mortgage.
Take a look at this useful article from Equifax on how to improve your credit score. It offers some practical hints and tips for you to keep in mind and follow.
Use an experienced estate agent
When you have the financial resources to buy a luxury property, the last thing you want to do is pay more than the market value. Plus, you don’t want to end up with a house in a location that isn’t quite to your liking.
Experienced estate agents like Cami Jones & Company can work with you to determine your specific housing requirements. They’ll then only present properties to you that fully meet your needs, rather than any sales targets.
Look outside big cities
Did you know there are many luxury homes for sale at modest price tags? The reason they are within many people’s budgets isn’t that there is anything wrong with them. Rather, it’s solely to do with the location.
If living in the middle of a busy city isn’t a big deal for you, consider setting your sights on properties outside of cities. You can even find affordable luxury homes in coastal locations, contrary to popular belief!
Final thoughts
Hopefully, this article has given you some hope and inspiration for finding your dream luxury home. The thing about luxurious properties is they aren’t solely aimed at people with a high net worth.
Even folks on a modest annual salary can afford a luxury property – as long as they follow the hints and tips outlined above!
