HOW TO BUY
LUXURY HOMES?
What Is Luxury Home?
A luxury home is typically valued within the top 1-10% of properties on the local real estate market. Luxury homes tend to be larger in size, niche in location, constructed and finished with high-end materials, and designed with uncommon architectural details that make the property stand out from others on the market.
While the features of these homes are highly coveted, they tend to be rare, as owners of these luxury homes tend to hold onto them for years.
How To Buy Luxury Home?
Identifying luxury properties and high-end homes on the market is relatively easy. Buying those homes, on the other hand, can be more difficult than you might think. Here are a few tips to help you get the home of your dreams.
- Work With A Real Estate Agent
Luxury homes rarely hit the market, and when they do, they tend to go fast. The best way to increase your chances of success is to work with an experienced real estate agent. Look for a professional who specializes in helping buyers purchase luxury residences and let them guide you through the luxury home buying process.
- Identify Your Must-Haves Early On
Luxury homes are custom buildings, and no two properties will be the same. That means you need to think about the types of features, amenities, decorative touches and square footage you want before you start looking at properties.
Create a list of must-haves and give this list to your real estate agent. They’ll be able to identify properties that meet your wishes and spare you the frustration of touring homes that aren’t the right fit.
- Set Your Budget
Luxury homes can cost millions of dollars. Before you start looking, figure out how much you’re willing to spend on your new home and identify how you’ll pay for your new home. Remember, luxury properties often only qualify for financing with a jumbo loan. Make sure you’re able to afford the payments for the mortgage on top of covering routine maintenance costs and choose a lender you’re comfortable working with.
- Take Your Time
With luxury listings coming on the market so infrequently, finding your dream home may not happen as fast as you’d like. Rather than buying the first luxury property that catches your eye, take your time. Be willing to wait until you find the right home for your needs.
- Tour Properties In Person
Pictures and virtual walkthroughs can only tell you so much about a luxury property. Rather than relying on pictures alone, try to tour each property you’re interested in. This will give you the chance to inspect the quality of the fixtures, identify any areas of concern and get a feel for the space more accurately.
- The Bottom Line
While high-end luxury homes are in attractive areas and niche neighborhoods, designed with the highest quality materials and often include enticing amenities, they’re ultimately only worth what buyers are willing to pay for them. Regardless of how well they’re priced, these real estate can still be expensive. The best thing you can do is get a pre-approval for your mortgage before you start looking.
Buy With Us
Purchasing a home is one of the most important decisions you’ll make, and the right advice and guidance is paramount. Experience and expertise matter, and they can make a significant difference in making sure that you not only find the right house, but that you also pay the best price.
At Gary’s luxury homes, we not only have a thorough understanding of the marketplace, we also have access to many properties that are off-market and an awareness of properties that are about to be listed. Most importantly, we are keenly aware of the nuances that determine value and we are discerning as to construction quality, materials, and craftsmanship. We will listen to your needs and find you the perfect home and we will make sure that you make an educated and informed decision. Once you choose a property we will represent your interest vociferously throughout the purchase process, negotiating the best possible purchase price, managing and advocating for you during inspections, escrow, title, and closing. We will also advise you on how to make the house even better, including furniture and design, and possible remodel ideas and augmentations where beneficial.
Please contact us to set up a meeting.