6 Awesome Tips to Purchase a Luxury Home
by Roger Perry Executive Estates Director - Rodeo RealtyLuxury is a unique subject that’s
subjective to one’s taste. The perception of luxury is different from one
person to another. There’s no one design, style or size that defines a luxury
home. It could be a calm house along the woods or a contemporary home on the
side of a mountain.
If you’re looking to purchase a
luxury home, you do not really mean an expensive house!
You’re looking for a home in an
exclusive area with all the amenities you have been dreaming of undoubtedly,
you are looking purchase a luxury home that gives you a wonderful living
environment - in style!
You’re looking to provide ample space
for your kids and your fleet of vehicles!
You want to make sure it is the right
investment for your family’s future.
Luxury homes have the most impressive
design and architecture, best landscape, finest finishes, best amenities,
expensive furniture and fittings and the best appliances available. Although
it’s difficult to quantify ‘luxury’, the buyers will know it only when they see
it.
It is worth spending enough time on
analyzing the neighborhood, style, and architecture before purchasing a luxury
home.
#1 Make a list of what
you want
The choice of home is completely
yours! You must look for a good-fit-house that is perfect for your family. Make
a list of what you and your family needs. Make a list of your lifestyle, taste,
and choice of architecture.
Try answering these
questions
· What is the quality of life you are
looking for?
· How many members are in your
family?
· What is the budget?
· Which property will be best for
your family?
· Which area is better for you?
· What’s your taste or choice of
luxury home?
· What does your family like?
· What are the features you would
like in a luxury home?
· What are your priorities?
There is a difference between buying
a standard home and a luxury home. The competition involved in a luxury home is
lesser than the normal ones. You have exclusive collections and great offers on
purchasing luxury homes.
You need to spend enough time
researching various aspects and try to negotiate to make the best deal. Buying
luxury home is not an overnight decision. Do not rush through the process and
end up in disappointment.
#2 Know the best way to
find your dream home
It can be a challenge to find the
best-fit luxury home. It takes a lot of time and effort to research different
communities that have luxury homes. You need to explore neighborhoods online
and offline.
You need to team up with the right
real estate agent!
But, why?
Right real estate agents
have experience in the luxury property market
· The agents will be able to give you
your options for different properties in different areas.
· They have a huge network of great
luxury home sellers so, you have many options to explore
· Real estate agents know about the
property, area, and home in which you are interested
· They know the properties that are
for sale but not advertised publicly
· Agents will be able to direct you
to the right property based on your needs and demands
· Your confidentiality is their
priority
· Answers and information provided by
them are reliable and valid
· They are professional advisors who
help you to take the right decision at the right moment
Overall, you can save a lot of money
and time during the process to purchase a luxury home
#3 Don’t be impressed
with pictures and walkthrough videos
Don’t be impressed with the
photographs of the front elevation and the architectural beauty. Many
professionals out there can enhance the beauty of the homes just to draw the
attention of the buyers.
Professional photographs are great
but it cannot be the means to finalize a deal.
Do not buy unseen houses. Even if you
are a thousand miles away, take your time to travel and visit the locality
before you invest. Stay in a hotel room close to the locality and observe the
surroundings of the luxury home you are willing to purchase.
#4 Know your neighborhood
Understanding your neighborhood is a
mandatory process while purchasing a luxury home.
Location is the most important factor
while searching for a home. You need to understand the types of amenities the
location offers you.
· Are you looking for a home near the
beach or lake?
· What’s next door to your property?
· Is there a chance for other
development activities to take place?
· What’s the potential worth of the
house a few years down the line?
Try to understand the local trends,
amenities and the plans for your location. Try to consider the changes that
would happen in the years to come and explore how the changes would affect the
lifestyle of your home. Make wise decisions after talking with the experts in
the locality.
#5 Consider your
financial abilities
Don’t let your finances stop the
process of buying your dream home.
It is important to consider the
financial abilities before you step in for negotiations. Make sure you are
liquid enough to make the purchase and that you have already completed the
pre-approval process with your lender.
Or, you may want to pay cash? Have
you financial statements ready from a reputable institution showing enough
funds to complete the purchase.
Taking a loan is a wise decision but
cash purchase is preferable for stronger negotiations.
You need a team of experts before you
purchase a luxury home. Work along with the best real estate agent, trusted
financial advisor, a lawyer to handle legal formalities and an accountant to
manage your money.
#6 Keep an eye on the
resale value
When you are shopping for luxury, you
need to know the resale value.
This rule is really applicable to any
home you buy. The location and the condition of the home will help you
determine the resale value of the building. Checking home sales around the area
regularly can give you a general idea of what your house is worth in present
markets. Also, when you do home inspections, you reveal the maintenance and
upgrades for the future for the property.
What’s best is to consult with a
local real estate specialist to learn the value of the house in today’s market.
Final thoughts
When you’re ready to buy, pay
attention to the location, financial ability, and the resale value. When it
comes to real estate, you need to look for rooms of improvement, growth, and
enhancements. For more information call:
Roger Perry,
Executive Estates Director,
Rodeo Realty Beverly Hills.
310-600-1553.
Website: http://rogerperry.com/
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Created on Dec 6th 2017 04:10. Viewed 547 times.