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As a market with unique properties and clientele, luxury real estate is distinct. For upscale home buyers, finding the right property is a specialized process.
In this post, we’ll cover the basic steps that luxury buyers can take to find a stunning home that fits their needs and lifestyle in Ottawa.
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New Standards of Luxury
In real estate, the word “luxury” is used fairly often. As the industry continues to evolve, it seems like everyone from real estate agents, to home buyers and sellers, has their own definition of the term.
This has felt especially true during the past few years. As a greater number of homes on the market began selling at premium prices thanks to rising demand, there’s been increased usage of the word “luxury” to describe properties.
In reality, luxury is far more than just a price point. Beyond cost, luxury brings to mind a high standard of living, from immaculate properties to high-end dining, designer shopping, and other five-star experiences. In our opinion, “luxury” says just as much about a potential buyer as the home itself.
Upscale buyers have their own unique needs, and what constitutes their ideal home can vary. However, luxury homes in Ottawa typically share a few common elements.
- Ample square footage
- Expansive and professionally kept outdoor spaces
- High-end furnishings
- Distinctive property features such as swimming pools, wine cellars, multi-vehicle garages, etc.
- Proximity to upscale amenities
Start With a Luxury Agent
Just like selling a luxury home, navigating the unique factors of buying high-end properties requires support from the right real estate agent.
In Ottawa, the house-hunting process can look different for luxury buyers. While many properties can be discovered online or through MLS, in some cases luxury homes may not be listed publicly. There are a few reasons for this, mostly pertaining to the privacy of the seller. With that in mind, luxury buyers who wish to maximize their selection of available homes will need to work with a well-connected real estate agent who specializes in luxury properties.
In addition to helping buyers discover off-market homes, luxury agents keep clients informed about any unique considerations that may come with a property they’re interested in. For instance, some luxury properties in Ottawa are located on a waterfront. While this is a huge selling point for many buyers, it also means new variables like insurance, property boundaries, and local bylaws that they’ll need to prepare for.
Looking to discover more insights about stunning waterfront homes in Ottawa? Check out our blog post on the topic here.
As a world-class city, Ottawa’s luxury real estate market attracts a fair volume of global and domestic relocators. As buyers with unique backgrounds, relocators can introduce new trends to the high-end market.
For luxury buyers relocating to Ottawa, appointing a specialized real estate agent is even more essential. Not only can their neighbourhood expertise ensure you discover stunning properties in the best areas based on your lifestyle, but an agent can also assist you in furnishing and customizing your home to your tastes by connecting you with upmarket retailers and local contractors.
From ornate heritage homes to stunning modern properties, Ottawa offers a lot of selections for luxury buyers. To learn more about upmarket homes, explore these blog posts.
- Our Favourite Luxury Neighbourhoods in Ottawa
- Downsizing From Your Luxury Manotick Home
- The Different Types of Waterfront Property in Ottawa
Set Your Parameters
Like any home search, the best way to find the perfect luxury property for you is by determining what it is you are looking for in a home. From spacious custom-built homes to sprawling historic properties and rural properties, luxury housing in Ottawa is diverse. With this in mind, buyers have a lot to consider when finding a home that suits them best.
Start with location – how far from the city centre would you like to be? Are there neighbourhoods you already like? For luxury buyers with children, consider access to reputable private or public schools.
Next, consider what it is you need from the home itself. How many bedrooms do you require? Which on-site amenities (such as a home theatre, fitness room, swimming pool, etc.) can you not live without?
As a buyer, setting distinct parameters allows your real estate agent to find properties of interest with greater efficiency.