David Bruce

July 10th, 2011

Buying A Richmond Area Luxury Home

Despite the doom and gloom the media portrays in the current real estate market, unique opportunities exist for many home buyers, especially luxury home buyers.

While home prices throughout the Richmond area have dropped across the board, luxury home prices have been especially hard hit as the market for such high-end properties has dwindled in challenging economic times.  This presents a great opportunity, for those who have the financial resources, to purchase a luxury Richmond area home that might have been completely out of their range 6+ years ago.

Purchasing a Richmond area luxury property is unlike a traditional home purchase. Luxury homebuyers should consider the following in their search:

Consider your finances carefully! 
Even if you’re ready to pay cash for your luxury home, you still want to ensure you’re getting the best possible value and potential return on investment from your home purchase. Make sure you truly have the financial wherewithal to remain in the home as long as you’d like. Consider the stability and growth potential of your future income before moving forward.

Get your documentation in order!
Many luxury home buyers derive their net worth from a variety of sources and investments. Given the high-end purchase price of a luxury home, along with today’s unstable economic climate, prequalification is often necessary when it comes to luxury purchases.

Check it out in person!
Expansive square footage, sprawling property, and a bevy of incredible views often make luxury homes difficult to completely capture in photos, videos or virtual tours. A visit in person is an absolute must to make sure you’re not missing any potential details and, conversely, to make sure the property lives up to its image.

Consider the future of your investment!
Your luxury home investment needs to be carefully considered for the future, in particular your expectations in terms of your return on investment. Most luxury homebuyers are buying a lifestyle and don’t intend on flipping their home anytime soon. Given the volatility that still exists in today’s market, make sure you’re not headed into your luxury purchase with unrealistic thoughts of financial gain but rather to enjoy a spectacular home for many years to come.

Thinking of buying a luxury home in the Richmond area? Contact us at Skye Bruce Properties for detailed data about Richmond area luxury homes and strategies to make a purchase.

Skye Bruce Properties Featured Luxury Property!

Cherry Hill at Wyndham

10817 Leabrook Drive, Glen Allen, VA 23059

$899,950

Sq. Ft.: 5,935  5BR + Bonus Room, Study, 3 Full BA, 2 Half BA

Shady Grove E.S.  Short Pump M.S.  Deep Run H.S.

Unbelievable golf course home overlooking The Dominion Club’s 7th green. This four-sided brick home has almost 6000 sq. ft. situated on two floors. Features include front & rear staircases, huge Living Room with fireplace, 1st floor Study, Family Room with fireplace & built in bookcases, Kitchen with granite, Butler’s Pantry and Sun Room with vaulted ceiling. The Master Suite has a vaulted Sitting Area, dressing area with make up vanity & luxurious Master Bath. The other bedrooms are spacious with Jack & Jill bathrooms. Huge Bonus Room has a vaulted, beamed ceiling and private half bath.

Click here for more information and to view a Virtual Tour of the beautiful property!

Directions: Nuckols to Wyndham Park to Right onto Dominion Club to RIght onto Cherry Hill Right onto Leabrook

Contact Listing Agent: Skye BrucePhone: 804-539-8571  Email: skye@skyebruce.com

This entry was posted on Sunday, July 10th, 2011 at 8:14 am and is filed under Golf Course Homes and Living, Luxury Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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