There’s nothing like moving in to that beautiful 5 bedroom 4 bath tucked away in the woods. Whether you’re searching for a five-star dream home or the ultimate oasis in the desert, this house hunt is an exciting step in your life.
This is also likely the biggest single purchase you will ever make. Obviously, you want to do this right. To aid you in your quest, we’re offering four strategic snippets of advice for your luxury home query.
1) Find an experienced agent
It’s always a good idea to connect with a reliable REALTOR®, but even more important in the luxury home market. Not only do the house prices rise, but so do the price of amenities that come with a high-end home.
When you sit down with a potential broker, bear in mind a few extra questions:
- Does the broker have a good track record? (i.e. has he or she got a decent number of sales under their belt?)
- Does the broker know the area you are interested in like a local?
- Has the broker handled several luxury home sales before?
2) Know what you want
You’re in the realm of luxury homes now. Think big because the sky’s the limit! Okay, unless you’ve got your own oil wells, that might be an exaggeration. However, high-end homes typically boast a multitude of extraordinary conveniences and it’s important to know what you want before beginning your search.
Are you an avid chef? While most luxury homes will have gorgeous kitchens, make sure the layout is to your liking. The best kitchens are beautiful and functional. Having ample counter space laid out in a practical manner allows your culinary skills to shine. You might need your own movie theater to chill in after dinner. After a good work out in your exercise room, there’s nothing better than relaxing in your spa.
3) Learn about the area
I know we use the word “research” a lot on this blog, but it really is important. Find out all you can about the surrounding area of your ideal location. Make sure that beautiful view from the second story balcony won’t be obscured by a high rise development in a couple years. Ask your broker about the zoning and land nearby.
4) Study market trends
Time your purchase when the supply of luxury homes is high and the prices are down. In the luxury home buying game, it is better to not be in a hurry. If possible, take your time in this process and your purchase will be one you can be happy with for years to come.
Summary
Buying a luxury home is an exciting milestone. Prepare for this significant purchase with a solid list of what you want, team up with a knowledgeable real estate agent, and you’re on your way to luxury living.