For all the luxury real estate lovers out there, we know all too well the feeling of awe you get when viewing home tours online or even just looking at floor plans. There is a lot to admire about luxury homes, both in terms of their architecture and interior design, but also in the lifestyle they offer.
However, for all the outward grandeur and allure of mansion living, there was still a great deal of maintenance required to keep the luxurious house pristine and splendid throughout the year, even when the house itself was vacant or unoccupied. The costs associated with upkeep of a luxury home should be factored into your budget if you are looking to indulge in investing in your first luxury property.
So what should luxury real estate investors and landlords consider when it comes to the upkeep of their mansions or properties? We’ll outline the most relevant maintenance considerations for luxury homeowners and real estate investors alike.
Invest in the upkeep of your luxury décor and furnishings
Proper building and content insurance is crucial when maintaining a luxury home, as luxury properties are generally sold fully furnished. For this reason, any damage to the fixtures, appliances, amenities, or luxury décor and furnishings that come with a luxury home can actually affect the value of the property as well.
If your luxury property includes amenities that require specialized maintenance, such as a swimming pool, tennis courts, or other similar facilities, you will need to ensure that such maintenance is performed by dedicated professionals in order to preserve the overall value of these amenities. Keeping up with the routine servicing demands of these luxury assets can help extend their life and reduce overall maintenance costs by detecting potential problems well and early.
Be sure to compare fee structures between these specialist services to keep annual maintenance costs as low as possible while ensuring that these facilities receive the expert care and attention they require.
Maintaining a minimalistic approach to interior design
It goes without saying that a luxury home with fewer amenities, decor, and furnishings will naturally have a more modest maintenance schedule. Real estate investors who prefer their luxury properties to be low-maintenance, however, will find it easy to maintain a simple mindset to provide all the benefits they are looking for. Adopting a simple mindset when it comes to designing and presenting a luxury property, can allow real estate investors to spend a lot less on maintenance and possibly insurance as well.
And with minimalism being a very popular design style in the world of luxury home design, maintaining this approach can feel quite organic, too. You’ll find that an emphasis on sustainability and ethical consumption within a minimalist approach not only complements the slick spending habits of some of the world’s most famous millionaires and billionaires, but it greatly simplifies the seemingly monolithic task of decorating a spacious setting. as a luxury home.
Simply put, less is usually more, and you’ll find that the best way to maintain harmony in your luxury home design is to make sure everything has its place and everything in that space is comfortable.
Stay up to date with your land maintenance
Abundance of land space is usually accompanied by plenty of land such as garden spaces as well. As a result, luxury property investors may find that land maintenance costs can often be as high as if not higher than the costs associated with protecting the building and physical assets attached to the luxury home itself.
While expansive, sloping lawns can be a breathtaking way to frame your luxury home, these lawns can come with a fair amount of upkeep themselves. This is exactly why many luxury homeowners choose to develop low-maintenance garden spaces rather than maintain green spaces that are prone to overgrowth without regular maintenance.
Outdoor facilities like tennis courts are a popular addition here, too, along with outdoor entertaining and lounge areas, stone walkways, cobblestone gardens with drought-tolerant plants, and even incorporating running water features to provide easy focal points that are guaranteed to look great all year round.
For luxury homeowners looking to keep their lands intact, you’ll absolutely want to hire luxury landscaping and garden maintenance services to help your green spaces stay in the best possible shape through the changing seasons.
Find professional luxury cleaning or housekeeping services
Speaking of securing professional landscaping and gardening services, it is common for luxury homes to be vacant for extended periods of time, especially those in the country rather than downtown. For this reason, it is common for luxury homeowners to hire professional cleaning and housekeeping providers who are on site and, therefore, dedicated to overseeing the upkeep and upkeep of the property throughout the year.
Of course, keeping a housekeeper on site can be much more expensive than hiring one-off luxury cleaning services. For this reason, it is essential that luxury property investors weigh the pros and cons of securing these services and whether or not they are necessary for this particular property. Consider implementing a housekeeping schedule that allows the property to be cleaned on a routine basis, even without staff on site.
If you plan to keep your luxury home vacant for extended periods without staff on site, additional security considerations must also be taken into account. This can include installing CCTV cameras, installing security fencing, and making sure your luxury home insurance policy provides comprehensive coverage in the event of a break-in, theft, or other common home security concerns.
As you can see, the upkeep of a mansion or luxury home is not much different from the upkeep of any other type of dwelling in good condition. Luxury real estate investors should have the same maintenance responsibilities for all homeowners; These tasks happen to exist on another scale entirely and as such, completing them can feel very different in comparison. There will naturally be a lot more outsourcing and a greater emphasis on automating maintenance tasks than would normally be seen in a suburban home, however, so it is up to homeowners and real estate investors to invest in the maintenance services that work best for them.