When it comes to investments, every financial guru will tell you that real estate is a safe bet to financial health. After the 2008 global recession, things looked gloomy, but today the National Realtors Association (NRA) is projecting higher median home prices across the country.
Maximizing Glamour in Luxury Travel Destination Investment
Today, you can maximize your real estate investment portfolio by walking the unbeaten path in property investment in luxury travel destination. You must be wondering how to even start thinking of such property, but with condos for sale in Phoenix, the opportunity of a lifetime is right before your eyes.
So, what type of property passes the threshold of luxury destination property? It is not all about the price tag, as you might think, but instead, you have to think about exclusivity and location. It has to be located bang in the middle of a popular tourist destination be it at the beach or deep in the woods.
But that is not all. When buying a luxury condo, you must consider convenience in location in terms of high-end shopping opportunities, outdoor and to-do activities and features that would attract high-end buyers if you wanted to sell.
Investing in Condos for Sale like a Pro
The greatest blunder you can make in your investment is lack of market research. If you ask most real estate owners who have burnt their fingers, the problem has always been poor research.
Here is a checklist against which your investment decision must be based:
1. Evaluate the Travel Destination
If your condo is going to make sense as a property investment, then you must buy in an area where vacationing is the order of the day. Phoenix happens to be a must-visit–before-you-die destination with many activities and places to visit.
From the art in museums, such as Heard, to nature loving in Desert Botanical Garden and the best biking trails in the world, you are assured of constant tenants should you decide to rent. The weather is great throughout the seasons and this is a strong selling point.
2. Assess the Condo Property
Before investing your hard earned money, make sure you assess the location of a property in order to leverage this as a selling point. You need to buy a condo that is centrally located near access routes, the airport and the city as this will make your condo a hot rental item.
Look at features of the resort, including heated pools, security, building design, 5-star decor and such, before signing on the dotted line. Furnished kitchens, exclusive amentias such as gyms, house cleaning service and other services make this a viable investment. This assures you that the property has all those features you would also look for in case you are vacationing.
3. Optimize Agent Knowledge
Your property manager must know the area well, and if you are looking to buy the exquisite condos for sale in Phoenix, make sure you work with a local agent. Your agent must be licensed and highly experienced in this luxury travel destination. By capitalizing on their local expertise, you are assured of deeper insight into your investment.
Phoenix is one of those places where you get to enjoy everything under the sun from biking, mountaineering on Camelback Mountains, hot air balloons and much more. If you invest in the condos for sale in Phoenix, you will be on your way to minting money.
David Kuttner - photographer, writer, and a father. When he’s not busy writing, he’s most likely spending time with his wife and their two mischievous dogs: Lily and Bart. Visit his site to read what he has to say about luxury living.
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