Luxury Home Buyers' Guide
Luxury homes can be found in a wide range of styles and sizes, with no one design that is representative of luxury real estate. The custom features and unique architecture are one the most appealing aspects of these upscale homes, and although it can be difficult to measure exactly what makes a luxury home, most buyers will know it when they see it.
The process of buying a luxury property is often different than that of a standard home purchase. Not all properties may be publicly listed due to sellers' privacy concerns, and there are many more details to consider with luxury homes, as many are completely custom with features that are hard to compare. Below you'll find valuable information on the process of buying a luxury home and what to look for when starting your home search.
Work With a Qualified Real Estate Estate Agent
When searching for a new home, many buyers start their house hunt online. However, in the luxury real estate market, the process is a bit more complicated, as not all high-end properties will be publicly listed due to privacy concerns. A qualified real estate agent can be instrumental in finding luxury properties for sale, and may have inside information about properties for sale before they even come onto the market.
A real estate agent with experience in the luxury market will also be able to help you when it comes to determining the market value of a high-end property. Assessing the value of luxury homes can be challenging, as these upscale properties typically have numerous customizations and features that are unique and more difficult to compare.
Determine What You're Looking For
When you're ready to begin searching for your new dream home, make a list of specific features and amenities that you are looking for. Homebuyers searching for properties in the multi-million dollar range often have many more distinct features that they want or need, whether it's a private boat dock, gated entry, skyline views, or direct ocean access.
Once you've determined what type of property and amenities you're looking for, narrow your search down to your top picks, and view homes in person. Many luxury home sellers limit the number of photos that are available to view online, so it's important to go take a look and get a complete picture of what the property offers.
When purchasing a luxury home, the process of securing a loan generally takes more time. Even if all your financials are in good standing, it can take up to 60 days to obtain a loan. Since there is the possibility of the process requiring extra time, it's often a good idea to receive financial approval early on in your home buying process. Many sellers of luxury homes will only show to qualified buyers, so it will be to your advantage to have all of your financials in order.
As with all real estate purchases, ensure you have the home inspected before you commit to buying it. The process of inspecting a luxury home can be more complicated, and may require specialized home inspectors. If the home has a pool or spa, a lawn irrigation system, security systems, a summer kitchen, or outdoor fireplace, you'll likely need a more comprehensive home inspection.
Are you ready to begin searching for your dream home? Start by browsing our luxury real estate listings. To speak with a luxury estate agent, contact us online or call 954-870-4080.
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