Those that are lucky enough to have the finances to build a luxury state have quite a few options. One aspect to keep in mind when getting an estate instead of a penthouse in a building is the upkeep that an estate takes. If you are going to spend a large amount of money on acreage then it should be meticulously maintained to keep up appearances. There are people that want to move into an estate while others want to create the estate as none fit their unique taste. The following are options for people that want to build an estate that they and their family can be proud of.
Purchase A Commercial Property To Revamp
Finding the right real estate lawyer is going to be a necessity with any of these properties due to their immense size and cost. There are those that have picked a commercial building then did a complete renovation of the inside. This allows for members of the family to have a floor to themselves but it also allows for income to be produced. Purchasing the building and only living in the top 5 floors can allow for the current businesses to keep rental revenue pouring in.
Pick An Existing Estate Then Update
Picking an existing estate can be tough depending on the area you are in. There are places in the country that have plenty of estates to pick from while a large city might be scarce in terms of proper estates. Updating this is going to be a huge cost as estates are large and additions when they are luxury quality are far more expensive than common renovations.
Purchase Land Then Start From Scratch
Purchasing land then starting from scratch is going to be a huge cost but it gives the owner the chance to put all of their personal touches on it. This is going to take years to complete so patience is a virtue and make sure to budget more than you think you will need. The last thing anyone wants is to build most of the estate only to run out of money before the project is done leading owners to tap into accounts they might not want to use.
Outside The Box: Purchase An Old Castle
The one less discussed way to get a true estate is to purchase an old castle then spruce it up. Castles will be on nice pieces of land and can give those people wanting to impress a home that will do just that. There are some castles that have been revamped only to go to waste again which can help cut costs. A lot of people have had dreams of living in a castle but remember these can be very drafty due to the thick stone walls.
Take your time when picking an estate as it is a project that could take years to complete. Do not compromise on those certain details that will make the estate uniquely yours.