Introduction
The grand house St situated in the posh French city of Monaco is one of the most popular streets in the entire city. It is situated in one of the most populated areas of Monaco called Monte Carlo. The city of Monaco itself is a sovereign city state & is one of the richest cities of the world. House St is not only one of the most popular streets; it also bears great historical significance. It was first established by the early settlers at Monaco and over the years hoards of people have developed their properties on this stretch. One of the prime reasons for this is that house St is very close to the Formula One race track in Monaco. Thus it generates high attraction levels especially on race days. Hence while choosing a property on house St one must always keep the following five tips in mind.
Step 1
Scout the house & the neighborhood areas thoroughly. Make sure its safe, well protected & most importantly up to date with all the building safety & fire regulation codes.
Step 2
Keep a fare idea about the general property prices in Monaco & House St in particular. Though it is very expensive, one can easily be duped into overpaying if through research on the property is not done. The main attraction of house St is that most properties on it are overlooking the harbor. This becomes especially attractive when racing season starts. As all the drivers and teams gather together with all the celebrities, this street gets a life of its own. The harbor is home to several multi-million dollar yachts of the many multi-millionaires & some billionaires living here. Therefore buying a property here is a very expensive and indeed risky job. One can easily get distracted and lose sight of the ultimate goal, which is to buy the right property at the right condition & price.
Step 3
Be patient while searching for a property on House St. Do not look or sound desperate during negotiations. The slightest nerves could be costly while bargaining for the right price.
Some MoreTips
- Try to pay it off as much as possible in one go. The lesser left on loans the better. The interest rate in Monaco & also the tax rates on properties on house St is sky high. The property value on House St is sky high even going by Monaco standards. It is home only to the filthy rich & VVIP's.
- Most properties here are not affordable for the average Joe's. Since it has such a high standard of living, the economy is also very high. As such tax & interest rates are also very high compared to rest of the world. But there is no denying that being here one can easily rubs shoulders with prominent personalities from around the world, including celebrities & presidents.
- Do not buy a property if it is unfinished or needs repair works. Workers charges are very high in Monaco as such a property could end up costing very high after all repair work.
