As the number of luxury shoppers continues to rise, more people will be led to the market for luxury homes. Prior to your search, there are some things that you should know, making 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. Begin your luxury home buying experience right by gathering your financial documents early on in the process. This will help show brokers and sellers how serious you are as a buyer.
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2. Set an appointment with a lender.
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It’s always a good idea to take your financial documents to a lender and get pre-approved, before you begin looking. You’ll know exactly how much you can spend, thereby preventing you from wasting time with properties that exceed your price range. It also shows sellers and brokers that you are truly prepared to buy a home.
3. Make a list of all the features you want in a home.
Take the time to make a list features that you would like your new home to have. How many bedrooms and bathrooms, for example? Do you want a huge lawn something low-maintenance? When you know these things ahead of time, you can rule out properties that don’t suit your criteria, and make finding the right ones much easier.
4. Have the home inspected.
Luxury homes normally have features that an ordinary home inspection doesn’t cover. Find out what additional inspections are necessary. 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. Without a doubt, these pros know the luxury market like the palm of their hands. 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 the same, so you have to do a bit of research, paying good attention to reviews given by their past clients.