You didn’t get to where you are by taking shortcuts. You know the value of hard work, and you deserve the very best life has to offer. Your home is an extension and expression of who you are and what you’ve accomplished in your lifetime. You’ve worked hard to be able to enjoy the finer things in life and look forward to hosting social events where your friends, family members, co-workers, and associates can also enjoy your fine taste. When it comes to the purchase of your luxury home, it’s not a simple fix like an Internet search and a drive-by sampling of curb appeal. You need an experienced real estate agent who also knows the value of hard work, who specializes in luxury homes and can escort you through the process of unlocking the door to your dream home.
Do as much research in finding your real estate agent and broker as you plan to do in finding your perfect home. Your real estate agent should be trustworthy, have remarkable communication skills, be available when you are, and should have a deep and thorough understanding of luxury real estate properties and their offerings. Buying a special home requires you to work with an elite agent who has special knowledge. There’s more at stake, more to risk, and your agent should understand the potential liabilities, legalities and fringe benefits of luxury home buying. Your agent should know how to access fine luxury homes that are not easily accessible to the general home-buying public.
There’s a limited inventory of luxury homes. Many high-end houses, in order to protect the privacy of their owners, are not listed in the open market or MLS listings. Supply and demand governs the real estate market. Because there are fewer luxury homes, costs could escalate as multiple bids come to the table. Furthermore, when it comes to luxury homes, you’re competing with more than a domestic audience as more international buyers place bids on luxury homes in the United States. Financing a luxury home takes longer, and home inspections have more ground to cover.
There are lower unemployment rates and higher-paying jobs bringing more competition to the luxury home market in the United States. The average deposit on luxury homes is over thirty percent. Pre-approved financing, or working with lenders with whom you’re familiar and have a history, could expedite your home buying process. Larger home loans take longer to obtain, so allow extra time for funding. Keep in mind that many potential buyers of luxury properties are playing for keeps with cash. Although your competition could easily obtain a home loan, cash is quicker and could be the winning factor in a bidding war. You may opt to work smarter, not harder, when it comes to negotiating the contract for your property by making cash purchases an option in your home buying process.
Before you make an offer on your luxury dream home, do a little research and find out what buildings or construction projects are scheduled for that area. Unsightly high-rise buildings blocking your stunning views could be a deal-breaker and have a negative impact on the sale of your home in the future. Although you’re planning to stay in your new luxury home for years to come, consider resale value before you completely commit.
Once you’ve found the home of your dreams and have secured your offer, consider your home inspection. Luxury homes often come with more high-end amenities such as pools and spas, fountains, central heating and air, and complex security systems. Patience is a commodity you’ll want to demonstrate as the finer things in life rarely offer instant gratification. Because your new home comes with so many delightful trinkets, treasures, and gadgets, you’ll also want to consider securing a home warranty to protect your investment.
You’re not a cookie-cutter personality. You deserve a home as unique as you are. You have earned the right to enjoy life’s creature comforts, and when it comes to your style and desires, you shouldn’t have to compromise or sacrifice. Working with an elite real estate agent who is an expert in luxury homes and the nuances of their neighborhoods should make your home buying experience feel comfortable and secure.
Call us today to discuss your luxury home buying options. You can reach us at 586-979-5475.