As luxury buyers keep rising in number, more people will find themselves looking for luxury homes. Before starting your search, there are some things you have to be aware of to make your home search a lot easier.
1. Be prepared.
The luxury home search process can be rather different from the process for conventional homes. A lot of luxury properties aren’t found online; most sellers need you to prove that you’re a serious buyer before scheduling a showing; and there will be more things to take care of prior to closing. Start your luxury home buying experience right by preparing your financial documents ahead of time. This will help convince brokers and sellers that you are serious in your buying plans.
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2. Set an appointment with a lender.
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Before you start searching, get pre-approved by a mortgage lender. You’ll know how much you can really afford to spend, thus keeping you from wasting time with homes that are beyond your capacity. It also shows brokers and sellers that you are indeed ready to purchase a home.
3. List down the home features you are looking for.
Take time to create a list of all of the features that you would like to have in your home. For example, how many bedrooms and bathrooms are you thinking? Do you want a huge lawn something low-maintenance? Knowing these things in advance allows you to leave out properties that aren’t in line with your plans and find the right ones more easily.
4. Have the property inspected.
Luxury homes usually have features that won’t be covered by a regular home inspection. Know what additional inspections will be needed. You don’t want to move to an expensive home with a huge problem that you “forgot” to have inspected by the right professional. As the market strengthens, more and more luxury buyers will come in. As one of these buyers, be the best you can be.
5. Get an agent.
If you are simply uncertain about going through the process on your own, working with a luxury home agent is always an option. No doubt these professionals know the luxury market by heart. They know where exactly to look, what prices to accept or not, and basically how to handle the entire transaction in the most hassle-free way.
Definitely, an agent will get his commission, but obviously, there are so many advantages you get in return. Then again, not all agents are created equal, so you’ll have to do some research, giving weight to reviews given by their previous clients.