5 Tips For Buying A Luxury Home

Dated: 05/22/2019

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If you’re planning to purchase a luxury home, you aren’t just buying an “expensive” house. Buying a luxury home should provide you with a peaceful, stylish, and beautiful living environment. You want your home to be an investment, but also a space that you can be proud of for years to come. The home buying process should not be difficult; with the right agent at your side, it can even be enjoyable. 

Here are five tips to consider to simplify the luxury home buying process:
#1 Know your priorities before you start your search.This will enable you to communicate clearly with your agent, who can steer you toward homes that meet your needs. Construct a mental profile of your likes and dislikes, as well as your lifestyle. While one family might want a basketball court, indoor pool, and theater, another may prefer a wine cellar, outdoor kitchen, and mother-in-law unit. By knowing the amenities you want in a home and having a proper plan ahead of time, you will avoid indecision and wasted time.

#2 Take your time.You should never take homebuying lightly, especially a property of this magnitude. Sadly, some rush through the process only to face a level of disappointment in the end. One of the major benefits to the luxury housing market is that competition for properties is much lower. This can be a benefit when searching for a perfect home, and a savvy real estate agent will use this to your benefit when closing the deal.

#3 Don’t rely on photos or website details alone.Attend open houses and schedule tours if a house seems to meet your basic criteria. It doesn’t matter how good the photos and video walkthrough are on the website, or how glossy the fancy brochure is. While it is possible to find a great home sight unseen, it’s not ideal. If you like what you see on the first visit, do not hesitate to return at different times of day. If you must travel to see properties, consider staying in the neighborhood so you can get a feel for the area.

#4 A home inspection is critical.Luxury homes are in their own league when it comes to its high-end appliances, technology, and design. You will need home inspectors who are clued up on the top-of-the-range home features, as your average home inspector is likely to be unqualified for this. Besides uncovering potential defects, the home inspection will also reveal recommended maintenance and upgrades for your future new home.

#5 Consider the resale value of your purchase.Although you should always buy according to your tastes, it is worth remembering that your home will be up for resale at some point. This doesn’t mean that you should not purchase the home of your dreams, but remain aware that your taste may not suit future homeowners and could cut into your profits.
As a final word, remember that ultimately the decision to buy any home is up to you. No matter what the budget, the house must be a good fit for you and your family. As buying luxury demands extra care and consideration, your real estate agent should be able to meet your expectations and deliver tangible results.
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Julie Chesne

My goal has always been to enhance my clients’ quality of life, as well as their economic well-being, through my 25+ years of experience, superior service and dedication. My mission is to develop a ....

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