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While it’s easy to get swept up into thinking of a luxury property as your forever home, that would be a mistake. Chances are you or your family will be selling it again in the future, so invest intelligently and look beyond the walls. Think about the neighbourhood and what it might look like down the road, and if this property will still be in high demand. Since it doesn’t take much to move the profit margins significantly, the resale value is just as important as the purchase price.<br><br>If you’re thinking about getting into high-end real estate, make sure you know what to look for. From proper home inspections to managing your future financial portfolio, when you're spending multiple millions, things can get a little more complicated. But having these five tips tucked under your belt will help make the house-hunting and buying process that much smoother.
Real Estate5 Secrets You Should Know Before Buying a Luxury Property
Financial Futurama
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While it’s easy to get swept up into thinking of a luxury property as your forever home, that would be a mistake. Chances are you or your family will be selling it again in the future, so invest intelligently and look beyond the walls. Think about the neighbourhood and what it might look like down the road, and if this property will still be in high demand. Since it doesn’t take much to move the profit margins significantly, the resale value is just as important as the purchase price.<br><br>If you’re thinking about getting into high-end real estate, make sure you know what to look for. From proper home inspections to managing your future financial portfolio, when you're spending multiple millions, things can get a little more complicated. But having these five tips tucked under your belt will help make the house-hunting and buying process that much smoother.
Photo Credit: Getty Images