Real estate has long been considered a safe investment – particularly if you’re investing in luxury real estate. Whether it’s a house or an apartment in Calgary, choosing to put your money towards an upper-end property can prove significant for your future.
In our comprehensive guide, we’ll be highlighting what constitutes a luxury property, the benefits of owning one and how you can start your search for one.
Your Guide to Investing in Luxury Apartments or Homes
What is Considered Luxury Real Estate?
The best explanation of what luxury real estate can be best described by Investopedia: “Real estate isn’t considered luxury just because it’s expensive. It must also be unique, exclusive, and perceived as superior.“
Essentially, luxury real estate isn’t about being overpriced, but about offering a higher standard of living, focusing on ensuring that owners or tenants enjoy its unique features. You’ll be exposed to a high level of quality living, in an ideal location in downtown Calgary, with unique features and apartment amenities while being entirely exclusive and private.
Investing in such sites has a wealth of benefits.
What are the Benefits of Investing in Luxury Real Estate?
Listed below are the key advantages to investing and owning a luxury home or apartment in Calgary:
More Secure Investment – Compared to bonds and stocks, real estate is always a sure winner in getting back a higher ROI. If it’s a luxury apartment, that means even better returns in your investment long term.
Better Appreciation – Over time, the value of your apartment will increase, meaning more equity and value in your bank. As a luxury investor, you’ll experience a higher increase in value compared to regular real estate.
Higher Standard of Living – Why shouldn’t you enjoy the perks of a lovely apartment? Owning such a stunning property means you get to experience a higher standard of comfort, convenience and quality. It’s the best way to live.
Great Rental Opportunities – Owning a luxury property means getting to offer some of the most desirable features of home living to potential renters. Your home will be a top choice for high-earning professionals and investors. Rent it or use it as a short-stay (Airbnb-style). A prime example of this would be The Metropolitan, which is a highly-sought after luxury apartment for rent in Calgary.
Better Cash Flow Opportunity – You can rent out your luxury property, and due to the better quality of living standards and amenities, you can charge a higher price. You’ll increase your cash flow, ensuring you secure your asset.
How to Invest in Luxury Real Estate
There are a few steps you can take to start your journey to owning luxury real estate:
- Establish your goals and priorities – What would you like to own and what you want to do with it? Do you plan to rent it out or live in it permanently? Or do you wish to use it as a vacation spot? Your priorities will set up the entire foundation of your search.
- Know your numbers & figure out the financing – Calculate the numbers and see what you can afford. You want to make sure you make the right decision financially for both the present and the future. Consider speaking to a financial advisor to see how you can finance your dream investment.
- Consult luxury realtors – Speak to expert local realtors that deal with upper-end luxury properties. You want real experts on the subject matter. These local experts will be more knowledgeable about the market that you’re getting into, ensuring you get the right advice and guidance along the way.
- Understand the market – There is a right time to invest in property (in Calgary, that time is now!). Make sure the market will support your decision, considering the likes of the job market, economic growth and traffic for the property year-round.
We hope that this guide provides you with some insight on how you approach investing in a luxury property. You’ll get to experience all these amazing benefits while securing your financial future for years to come. Good luck and happy hunting!
The Metropolitan offers the best luxury apartments for rent in Calgary. Located in the Beltline neighborhood, our apartments blend the energy of the city with the comfort of luxury living. Our living spaces encompass convenience and comfort, including gourmet kitchens, stainless steel appliances, high-speed fibre optic internet and hardwood-style and ceramic tile flooring. We offer various world-class amenities, including state-of-the-art gym and fitness studios, entertainment lounges and rooms, pet-friendly living, monthly events, and secured and heated underground parking. With unfurnished and furnished living spaces, available as both one-bedroom and two-bedroom apartments for rent in downtown Calgary, we have unique floor plans for everyone. Schedule a tour of the best apartments for rent in downtown Calgary by calling us at (403) 228-6380.