Top Ten Choices for UK Residents Overseas Vacation Homes

by: John C. Arkin

Many UK residents opt to buy vacation homes overseas for many reasons. Some of them think that buying a vacation home in another country is a good investment for future. Others think instead of going to a hotel in the vacation, buying a new house can be cheaper. Still others see vacation homes overseas as a place to go to when they retire.

We can easily say that whatever the reason is, most UK residents buy vacation homes in different places. Following places are the most popular of them:

An Endless Summer

UK has a calm climate and it rains during most of the year. The climate is the top reason why a certain country is appealing for UK residents to buy vacation homes.

1. Southern Spain. Southern Spain has a warm climate and guarantees a delightful warm summer. The expanse of southern Spain embraces the Mediterranean. It also makes sense to buy vacation homes in this part of Europe. Every year many tourists go to Southern Spain, hence if the homeowner is not going there for a holiday, he or she can put it up for rent.

2. Florida, USA. Florida is the second of the most popular places where UK residents flock to for holidays. Many of them love the place so much that they buy vacation homes there. There are neighborhoods in Florida that are just exotic with their palm trees and tropical greenery. 

3. The Bahamas. The third country that UK residents go to and invest in vacation homes is the Bahamas. The best beaches of the world go lie in the Bahamas. UK residents who are beach fanatics will love the Bahamas just for the beaches.

A Rich Culture

Some of UK residents love to find themselves in culture of the country in which they are staying instead of being in beaches. And so they buy vacation homes from countries where they can find culture.

4. Paris, France. The old center of Europe in the days of Louis XIV was Paris in France. It still is today, and many UK residents are drawn to this city for its culture.

5. Italy. There are many beautiful cities in Italy some of them are Rome, Venice, Florence and Milan. They are incomparable for many UK residents. Also incomparable is the authentic Italian cuisine that is an experience in itself.

6. Istanbul, Turkey. One of the most popular places is Istanbul in Turkey for UK residents. Many of them do not just buy vacation homes in Turkey ; they even relocate here. You can find a delightful mix of the ancient and the modern in Turkey. Its layers and textures can be truly fascinating.

Spectacular Views

UK residents may find the views to be enjoyed in a country reason enough to buy or loan a vacation home loan a vacation home there.  

7. Greece. Greece’s rich culture is an attractive factor for UK residents, just as marvelous as its culture is the ruggedness of its shoreline and countryside.

8. The Netherlands. UK residents find The Netherlands irresistible, presents views that are charming and genteel.

The Logic of Economics

Some UK residents buy a vacation home in less popular place because of some reasons of economic.

9. Bulgaria. Real estate is cheap in Bulgaria so UK residents find purchasing a vacation home in Bulgaria to make sense.

10. Switzerland. For UK residents who love to ski, there is no other place to buy a vacation home rather than in the ski towns of Switzerland.

There are many reasons for UK residents to buy vacation homes in other countries. Mostly it is fully to experience a complete new chapter in their lives.

Let There Be Light

Knowing some of the ins and outs of kitchen lighting will help you better communicate what you want to your designer.

Great photographers, like great stage designers, have always known this secret: The magic is in the lighting. Being able to control the lighting of a scene is what separates the master from the amateur, because it requires years of experience and vast technical knowledge. Lighting is just as important in the kitchen. It directly affects how people feel about a space and the way they see, move and work in that space. Most designers would even say that lighting could make or break a kitchen design.

Not only is lighting complex, it's also personal. There's no one perfect lighting plan; it's a matter of personal taste. But in order to communicate what you want to a professional designer, it helps to have an idea about basic terminology and concepts.
Basic lighting terms

The language of lighting can be daunting, and you'll want to leave much of the terminology to the experts. But knowing some basic terms and units can help you find your way around a lighting showroom and help you better communicate with your designer - especially as there's no one measure of lighting output.
Candlepower (Cp): This is the unit for measuring the quantity or intensity of light energy emitted by a directional light.
Color Temperature: Measured in degrees Kelvin (K), color temperature is a measure of how "warm" or "cool" lighting appears to the eye. A color temperature of 5500K has the quality of daylight; lower numbers seem warmer to the eye.
FootCandle (Fc): This is the unit for measuring the intensity of light falling on a surface.
Lumen: This is the unit of measurement used to indicate how bright the output of a given lamp is at the source.
Types of lighting

Light needs not only to provide light for tasks, but also to enhance the design itself. The type of lighting affects the appearance of everything in the room. The color that's seen in the showroom, under one type of lighting, may look different under another type of lighting at home.

"Depending on the colors of the room, you need to decide whether incandescent, halogen or Xenon lamps should be used. Halogen and Xenon are crisper, but not as good with earth or cream tones," says Peter Ross Salerno, president/owner of Peter Salerno, Inc. in Wyckoff, NJ.

Then there is the matter of incandescent versus fluorescent. In some states like California designers are required to use fluorescent as the primary lighting source. But there are ways to seamlessly incorporate fluorescent lighting. "I use color-corrected fluorescent," says DeWitt Beall, principal of DeWitt Designer Kitchens in Studio City, CA. "I put them over and under cabinets, then I use line- or low-voltage halogens, making them the accent lighting."
Light intensity

Determining the right amount of light is partly a technical matter, and here you'll want to rely on the lighting experts. But it's also a matter of personal taste, need and preferences. For instance, some people prefer moderate lighting, while others may have light sensitivities that call for dimmer lighting solutions. Likewise, some may prefer very bright light, while still others may have vision problems that require special lighting solutions. And some couples may have very different lighting preferences, requiring a great deal of flexibility in switching and dimming lights to suit personal tastes and needs.

Because the overall light level influences so many other decisions the designer makes, you'll want to communicate your needs clearly during the early stages of your kitchen design.
Illuminating the kitchen

Designers note that there are three components to a properly lit kitchen:
General lighting should illuminate the entire kitchen. This usually comes from recessed lights but could also come from decorative fixtures.
Task lighting should be located at each workstation.
Ambience lighting creates a mood or highlights a feature such as a crown molding or cove.

The placement and comparative brightness of the three types of lighting are critical, the experts say. The positioning of recessed lights is very important. They must be properly laid out, or there will be heavy shadowing between each light, although directional lights can help solve this lighting problem.

"Illumination of all the countertop surfaces is key. In some cases, this is more important than the general lighting. However, there needs to be a good balance of both types," says Steven Haas, co-owner of Architectural Kitchens and Baths in Rockville Centre, NY.

Balance is important. A good rule of thumb is that the task lighting should be 2.5 times brighter than the general lighting. 
Setting the stage

Switching is another key element to consider. Lighting controls are almost as important as lighting itself. For instance, you can control the strength of the ambiance lighting with dimmers. You can also use them to create different atmospheres, which is especially good when entertaining.

Having everything on a dimmer allows users to have better control over their lighting. In some cases, an even better choice is installing a Lutron lighting system, which allows homeowners to preprogram different lighting scenes, such as those for parties, everyday use and romantic settings. "All the world's a stage," said Shakespeare, and your kitchen is part of it. With modern lighting technology and the professional assistance of a kitchen designer, you can be your own set designer and light your stage in a manner that would make even the Bard envious.

Luxury Home Advice - Waterfront Luxury Homes

Equestrian, Waterfront

Answer these Questions when Looking at Waterfront Property
Before you invest in a luxury waterfront home, spend some time thinking about your property expectations. For example,
• Are you looking for a waterfront home located in a rural setting, away from the hustle and bustle of everyday? 
• Would you rather have waterfront property in a city setting? 
• Do you want specific waterfront activities to be available to you, such as fishing, swimming, boating, etc.? 
• Would you like a luxury home located right on the water? 

Once you have answered these questions, consult with a realtor who can help you pinpoint the kind of home and waterfront lot you need.

Ask Questions about Waterfront Luxury Homes
When searching for a luxury waterfront home, look around at different properties. Asking a realtor who specializes in this type of property can make the search easier.

Questions to ask sellers or agents for waterfront property:
• How does the property change from season to season?
• How do the varying water levels affect the land?
• Are there are restrictions on building a dock or a boathouse?
• Do I need a permit to do so?
• Does the home have access to electricity, sewage, and other utilities?

Never assume the answers to these questions because they greatly affect your decision to purchase a luxury waterfront home.

Check Water Levels by Lakefront Property
Waterfront property types vary, depending on what kind of water you are near. If you are looking at purchase a lakefront luxury home, there are special considerations to consider.

For instance, you need to know definitively whether the lake remains at a constant level or not. If not, find out how drastically the levels changes and at what time of the year.

If you are in a waterfront property that is prone to flooding, you might have a hard time finding homeowner’s insurance.

Likewise, on some lakes, Luxury homes also include docks. Are you prepared for the upkeep required for a boat dock, and is the dock that goes with your luxury home the right size for the boats you own or plan to purchase. 


Do Research on Luxury Waterfront Property
Buying a waterfront property can be a risky investment if you have not done your research.
Before committing to a particular home, follow these steps:

• Visit the land, even if it is undeveloped. Walk around and note every detail. Check out the site plan so you can determine the location of property lines.
• Look at land development in the area surrounding your home. How is land being used in the area and how will it be used in the future? Did the construction of the waterfront development cause controversy?

These tips can help you to assess how sound and financially safe a purchase you are making.

Have a Professional Inspection of Your Luxury Waterfront Property
When you make your offer on a waterfront property, consider making it conditional on a professional inspection of the land.

Waterfront homes can be tricky because the ground beneath is affected by factors much different from in-town homes. While you can look over the land, you are not a professional and you do not know what lies beneath the surface.

Ask for a professional who specializes in inspecting waterfront property and make your offer contingent upon their report.


Invest In a Beachside Condo
Luxury town homes or condos are a great way to invest in waterfront property without spending big bucks. They’re also a good way to get to know a community before you make a more permanent commitment. 

Usually located on the beach, waterfront condos provide homeowners with a tax incentive and the opportunity to purchase a home without the worries of heavy-duty maintenance of home improvement.

Many beachfront developments have a homeowner's association, so get information on dues, covenants and meetings before you purchase your new condo.

Wait before making Major Changes to Waterfront Land
Waterfront property usually comes surrounded by a woodsy, wildlife environment. Because of this factor, homeowners do not usually try drastic alterations to the land around their luxury waterfront home.

Wait at least a few months after moving in before making plans to change the land. Get an idea of what kind of wildlife is living around you, how the development in the area around your home is progressing and what you want to do with the property to make it suit your needs.

If you are on in a government-regulated area, be sure and find out if it’s even possible to make changes; in some areas there are strict rules about what waterfront property owners can and cannot do. 


Looking to Purchase a Luxury Home on the Beach? Do your Homework!
In Texas and other Gulf States, luxury beach homes can be dream purchases but they also have the potential to be major headaches. Before you invest in a home located directly on salt water, ask yourself the following questions:

• Do I really want to live with the threat of hurricanes for half of every year?
• Salt air is very corrosive. Am I willing to spend the time and money required for constant maintenance?
• What about the beach itself? Is it stable? Diminishing? In some areas homeowners are required to build back dunes and beaches in front of their homes that get washed away. Likewise, in some areas where the shore fluctuates significantly, there may also be a potential for the saltwater to undermine your home.
• How difficult – and expensive – will it be to get homeowner’s insurance in this area? Insurance costs have risen tremendously since Hurricanes Rita and Katrina. Be sure you are prepared to pay the cost of a new policy – and be sure you know exactly what it will cover. 

Despite the potential problems, many people love their luxury beach homes and wouldn’t live anywhere else. If you’re one of these people, go for it! Just make sure you know upfront what you’re getting into. 

Who Maintains the Road to your Waterfront Luxury Property?
Many luxury waterfront properties are remote. It is prudent to find out who is responsible for maintaining the road to and from your property. You may find that your bank requires a Road Maintenance Agreement before they will lend you money for a remote, waterfront home.

Luxury Home Advice - Luxury Home Rentals

by: Shawn Smead

Consider these Questions before Investing in Luxury Rental Property
Before deciding on whether or not to invest in a luxury rental property, consider these questions:

• What is the rental market like in your area?
• What is the average rent in the area? How close to that do you plan to charge?
• What type of rental prospects are you looking for? Young professionals? Singles? Families?
• If you planning to rent a luxury townhouse, apartment, or condominium, are there any covenants or restrictions that restrict you from renting your property

Obtain an answer to the above questions before investing in property to rent to assure an easygoing rental experience.

Conduct Extensive Financial Checks on Renters of Luxury Homes
Do not be hesitant to delve into a potential renter’s financial background to assist in making your decision on a potential renter. Many property owners have renters sign a release allowing them to do a credit and employment check as well as a rental history.

You can use the findings to gain a better financial picture of your renter. You want to be sure that the person makes enough money that the rent will not be a burden and will be paid on time. 

If your potential renters have had numerous problems with past property owners, that should be a red flag. Credit reports are trickier because there are sometimes unknown factors regarding unpaid debts.

Use the combination of the three checks – rental history, credit check and employment check – an interview and the application form itself to make your final decision.

Develop a Personal Relationship With Your Luxury Home Renters
When you rent your luxury home, make a point to get personally acquainted with your renters. Having a relationship with your renters is the first step in protecting your luxury home investment. 

Start by engaging in a lengthy interview process. Make financial inquiries, but do not be afraid to chat casually. This is important because you are trying to get an idea of what kind of person will inhabit your home. Take the time to get to know them. 

After they become renters, it’s prudent to maintain ongoing contact and encourage them to call you personally when problems arise. This will help to assure that your property is well taken care of throughout the rental period.

Spruce up your Luxury Home for Potential Renters
Luxury homes are held to a higher standard than other homes on the rental market. You want to make sure it presents itself accordingly, so try a few quick spruce-ups around your luxury home before you market it for rental. 

Upgrading certain furnishings and appliances can make a huge difference in the overall look of your home. Replace any old appliances that don't work properly. Hire someone to patch up any tears, holes, etc. in the walls. You won't get as much interest in a home that looks shabby and unkempt. Put away as many personal effects as possible. The idea is for the potential renter to visualize their furnishings in the home, so the less you have lying around, the better the chances for someone to commit to renting the property.

Luxury Homes are a Great Rental Vacation Getaway
Luxury homes are a great way to get into the rental vacation market, but what is the best way to determine when to rent your vacation home and when it should be set aside for personal use? After all, it is your luxury vacation home and you want to be able to utilize it whenever you want. 

The best way to decide is by season, meaning, if yours is a summer home, then rent it during the winter. The same applies for a ski chalet; use it throughout the winter and rent it during the summer months. This way, you still have the advantage of using your luxury home as a vacation getaway, but it serves another purpose during times you aren't able to utilize the property.

Steps to assure Security of Your Luxury Rental Process
As a luxury property owner, you have a responsibility to your tenant to provide a safe atmosphere. Make sure you have a solid homeowner's policy and encourage renters to obtain insurance for their belongings. Additionally, while there are a number of factors that are beyond your control, you can take steps to help assure the safety of your renters. They include:

• Provide adequate lighting in and around the property.
• Make sure every aspect of the home or apartment meets all safety codes.
• Make sure there are appropriate locks on all doors and windows. Many luxury doors and windows are elaborate and are sometimes hard to secure, so keep that in mind when making your luxury door and window purchases.
• If there is a neighborhood watch in the area, inform your renters who the point of contact is and encourage them to get involved.

Your home is a luxury home and you should take steps to protect both your property as well as those of your renters.

Advice on Renting your Luxury Home
Before renting your luxury home, there are three major questions you need answered. They are:

• Will you be renting the home furnished or unfurnished? If you including furnishings in the rental home, adjust the price of the rent accordingly. Your luxury home is decorated nicely, with expensive furniture and decorative items. For this reason, it's important to consider the caliber of the décor when adjusting pricing.
• How long would like the lease to run? Consider how long you want to rent to one tenant. Many homeowners feel more comfortable with just one tenant over a long period of time; others don't like renters to become too comfortable in the home, particularly in homes that are decorated with luxury furnishings. Once the lease has been signed, it would be hard to change, so be sure of the rental period before you even present it to your tenant.
• Pets or not? Include this information in any advertising you do. Should you decide to allow pets, determine what kind, how many, and what sizes well ahead of time. Pets can cause damage to your luxury home, so weigh the decision carefully. Your luxury decor took time and money to be put together and pets can cause considerable damage. Keep that in mind when making your decision.

looking for luxury homes?watch this video

Luxury Home Advice - Luxury Home Decorating

by: Jim & Regina Augat

Consider adding art elements to the décor of your luxury home. Look for original pieces of art as they can add a distinguished look. Since original art can be expensive; purchase one piece at a time if your means are limited.

Don't limit yourself to big names, either. Many local art galleries and even framing shops feature stylish, interesting works from local artists. Collecting some of these pieces for your luxury home now can be a great investment if the artists' career takes off. If not, you still have a fabulous piece of art to decorate your home.

If you decide instead to purchase a print, have it professionally framed in order to make it look sophisticated enough to fit in with the rest of the art in your home.

Selling? Examine How Your Luxury Home Looks to Potential Buyers

Keep Your Luxury Bedroom Decor Simple

Look Carefully For Pieces to Fit in with Your Luxury Home Style

Look For Classic Pieces For Luxury Homes

Splurge on Bed Linens for your Luxury Home

Use Flowers For Beautiful Luxury Décor

Contemporary European Kitchen Design Trends

Europe's premier kitchen exposition showcased an array of sleek, contemporary looks...

The Eurocucina kitchen exposition held recently in Milan showcased the latest in international contemporary style - demonstrating the ongoing evolution and continued vibrancy of this look.

There were enough mind-expanding ideas and provocative combinations of materials and looks to provide plenty of room for thought, especially for American luxury homebuyers who might be more accustomed to a traditional design vocabulary. It was a preview of design trends, some of which may make their way across the Atlantic.

The overall aesthetic in the majority of kitchens was geometric, pared-down, simple, elegant and clean. On display were inventive uses of lighting, unusual countertop materials, boldly scaled hoods and lamp shades, bold colors and lush wood-grain finishes - along with a move toward a "hidden kitchen" concept in which the clean-up and storage areas are walled off from the more public food prep and dining areas. Interested in creating this look in your current or next home? Read on and see how color, proportion and lighting can bring cutting-edge European design to your kitchen.
Color trends

Dark and medium silvery gray wood grains, deeply wire brushed, dominated the Milan show. Although there were still some light oak finishes, they were less in evidence than at the previous show two years earlier. Dark rift-cut oaks looked stately paired with stainless steel or creamy solid surface or composite counters. So did the deeper brown walnuts.

Secondary to the dark grays were dark chocolate finishes. While oak and walnut predominated, there was a profusion of highly patterned and sometimes exotic wood grains such as mahogany, teak, olive, zebra and eucalyptus. Overall, wood grains were used predominantly on the horizontal rather than vertical.

Not everything in the palette was subdued, however. The darker woods were punched up with blasts of citrus oranges and limes. Red in many tones popped up as another frequent accent color, ranging from fire engine laminates, to cherry red paint, to oxblood stains on wood. Designers frequently used a "cube" approach to color combinations. For instance, they used a row of cabinet doors in the center of a tall elevation to introduce a new color.
Geometry lesson

If one piece were to symbolize the overall design vocabulary at Milan, it was the classic Parson's table - a form that was widely used to intersect with or relate to other pieces, often at different angles and heights. Sometimes the form jutted out as an open end to a run of cabinets, while other times a series of these rhyming shapes intersected to create an island.

In storage systems, there was a tendency to mix closed cabinets with elegant open shelving as part of a system. Cabinet doors emphasized the horizontal. Rather than typical wall cabinets, Italian and German designers often used long, horizontal flip-up doors like those in airplane luggage compartments - but much more elegant, often with glass doors framed in aluminum. In some cases, the horizontal motif gave way to a vertical one at the end of the room, where the kitchen would transition into the dining room.

Setting off the cabinets were quiet, elegant countertops of either solid surfacing, quartz composite, or even laminate. The quartz composite had a much finer particulate than commonly seen here. Stainless countertops were the workhorses of the kitchen, with integrated cooktops and sinks all as one piece. Glass countertops provided another note of elegance, raised on arched moldings that served as platforms.
Light as a design tool

The most dramatic design tool to catch visitors' eyes at the show was lighting, especially the more interesting applications of diffused lighting, such as a 42"-high illuminated frosted glass panel between a kitchen and the adjacent living area. 

Lighting was used as a room divider. It was used on backsplashes, over, under and in the middle of shelving. It was used inside cabinets and tucked into a channel between counter and base cabinets. Back lighting provided drama for a wood-framed wall section with open shelving.

A hanging wall of nine square cabinets with translucent doors was made more dramatic with interior lighting. Another variation was an electric eye in a backsplash to control kitchen lighting. But not all lighting was built-in. The show also featured dramatic, large-scaled fabric light shades, often in pairs over islands.
Double-barreled approach

A similar oversize, double-barreled approach was applied to hoods and other appliances. In a number of cases, two, side-by-side chimneys rose dramatically over cooktops. Twin wall ovens, or even a trio, were placed side-by-side rather than stacked. Sometimes they were wall-hung, or simply sat on a counter, almost like pieces of sculpture, rather than built into the cabinetry.
Looking ahead

After years of breaking down kitchen walls, European designers are building them back up again, closing off a space that could be called the "hidden kitchen." Concealed behind what look like tall pantry doors or behind sliding doors, the hidden kitchen detaches the food prep and dining areas from the less sightly clean up and storage area.

The hidden kitchen, somewhat like a butler's pantry, contains storage, dishwasher and sink, and is designed for the messier parts of prepping and cleaning up. Final cooking and dining takes place in the more public, designed and formal parts of the kitchen space.

The Asian look seems to waning in kitchens, judging from the displays. However, it was still a major theme for accessories.

What does this all mean for American luxury homebuyers? All in all, the show illustrated that there continue to be cultural differences on both sides of the Atlantic. European design has a distinctly different look from most American design. But in today's world of globalization and worldwide communications networks, ideas travel with the speed of thought. 

You can expect to see design influences represented at the show to start appearing in elements of American design, as well. Given all the considerations involved in new home construction, this may happen first in the design of high-end remodeling projects.

New Custom Buckhead Residence 421 Blackland Rd NW

Presented By  Debra Johnston

Hand cut-face limestone exterior stone residence on the best street in Buckhead. The roof system is slate and has square copper gutters and gas lanterns. Gated and private this property is approximately 1.45 acres and has a team of the finest craftsman, designers and landscape architects. The infrasture has the most efficient geo thermal HVAC systems, computerized lighting, audio and security. This home has a wellness center with access to the pool, 3 tiered media room, wine cellar, bar, billiards room and fireplace. Upstairs has 4 suite bedrooms, laundry, added au pair suite with separate entrance. Or for office space with a separate entrance. There is a full size elevator with access to all three floors. The master suite and bath is its own separate wing with custom designed and large his/her closets and sitting room with a fireplace. Marble, stone and walnut surfaces throughout designed by William Stewart Designs. Estimated completion October 2009.

How to live in Luxury Homes for Free

By lelai

For people who can't afford to buy a home yet, This article will sweep you off your feet. How would you like to live in your dream home, or even luxury homes for free? I am talking about rent free, no purchase needed! There' s lots of ways for the eager adventurous with just some important qualifications required. To your own discretion, you can choose where and when, when you visit the web sites I listed below on the resources area of this article or do a little bit of research on your own works well too.

Simple explanation: Property owners and homeowners just want their property to be taken care of, and not looked like abandoned whether they are away or goes out for a couple of months during winter time or simply just have an extra property. 

For realtors who have been selling luxury homes, they see hiring people to live in their "show homes" to make the place look like lived in is the next big thing other than filling up the vacant home with beautiful furnishings.

Stories you will find over the internet that sounds like to good to be true is everywhere, but well, this one my friend, is happening now and is true.

Defining Luxury Real Estate

Today's new luxury homes are a far cry from even the most opulent mansions of a half-century ago. Just a quick look through the luxury homes on our site will reveal a host of new "must have" luxury home components that earlier builders of luxury real estate never considered - or dreamed of.

For one thing, many contemporary luxury home buyers are leading the movement for Eco-friendly building materials. Energy-saving innovations are a common component of most new luxury homes and renovated luxury real estate today.

In addition, many of today's luxury homes - known as Smart Houses - are equipped with high-tech computers that monitor and control everything from lighting, heating and cooling, to inside and outside security.

Pampering has also risen to new heights in luxury real estate. Luxury Home buyers often expect bathrooms with many spa features, complete with whirlpool, garden tubs for two (or more), saunas, heated marble floors and towel bars.

Gourmet kitchens in Luxury Homes often feature large work/conversation islands, stainless steel "smart" appliances, plenty of hidden storage in cabinets and drawers, and expansive space for entertaining.

Key Concerns when Buying Your Second Miami Luxury Home

by: Mark Michael Ferrer

Some people can only dream of buying a second home, much less a Miami luxury home. These properties run the gamut of opulent elegance ? they also carry quite a hefty price tag. For many investors, their second residential properties serve as income-generating structures. By turning them into rentals, these properties will somehow manage to pay for themselves and provide a steady cash flow. But before buying your second home, here some key concerns you should think.

Finance

Once you know that you''re ready to buy a second home or a second Miami luxury home, for that matter, financing should be your foremost concern. This is the time (again) to crunch the numbers and discuss your plans with your financial planner. 

Many lenders charge either a higher interest rate or a higher down payment for second homes; sometimes they charge both. This can surely scare anyone planning to buy their second properties but there are ways that you can use to avoid future money disasters. For instance, leveraging the equity in your primary house may work. It is crucial not to handle this on your own, except of course if you are truly a seasoned pro when it comes to second home-buying. Discussing all the options with your broker or financial planner is an absolute must.

Maintenance

One of the most important thing buyers rule out when they budget their home''s finances is maintenance. Once you become a second Miami luxury home owner, never underestimate the cost of maintenance. You don''t want to be caught empty handed when repairs upon repairs are needed for the house. In order to avoid any future financial jams, don''t forge to set aside at least 2 to 3 percent of your home''s total value for maintenance every year. 

Insurance

Miami, as we all know, is prone to natural disaster. This is one of the most common disadvantages of the city. When it comes to buying your second Miami luxury home, it isn''t enough to set on a mission to obtain those keys ? you must secure the home, too. 

Even though you live against a backdrop of semi-tropical climate, surrounded by pristine waters and sultry beaches, you just never know when disaster will strike, or perhaps you will. Nevertheless, insuring your Miami luxury home for any kind of natural hazards is important. Remember to obtain some insurance quotes before making an offer in order to avoid any escrow bombshells.

Luxury Homes In Bulgaria Mainly In Sofia And Varna

Author: Denitsa Shumanova

The residential markets in Sofia and Varna account for the bulk of luxury homes in Bulgaria while occasional listings in other cities are the exception rather than the rule reports Dnevnik. 

In many cases, the label 'luxury' is misleading because it is used to describe properties that offer basic amenities like parking and sports facilities which are considered standard in the rest of Europe.

The average price of houses in the center of Sofia top out at around 3,000 euro/sq m. Houses in upscale suburban neighborhoods Simeonovo, Dragalevtsi and Boyana range between 1,200 and 1,600 euro/sq m. 

Most of the luxury apartments on the market are located in gated communities and usually occupy the top floor of the building. Away from the gated complexes, downtown Sofia and the foothills of Vitosha mountain, luxury homes are mostly available in the Iztok, Lozenets and Ivan Vazov districts. 

The rise in luxury housing prices has kept pace with the overall residential market, gaining 40-45% on an annual basis. The only standout is Ivan Vazov where prices added only 30%. Apartments with an area of over 90 sq m in prime neighborhoods in Varna appreciate by 25-45% annually with average prices at 1,100 to 1,500 euro/sq m.