9 Keys to Buying a Luxury Home

When you’re ready to buy a luxury home, it’s important to understand the difference. Shopping for a home in the average price range for any city will be far different compared to shopping for a home above the $1 million price point. Here are seven keys to keep in mind when buying a luxury home.

Understand the Home Buying Search Process

Buying a luxury home doesn’t mean you just hop online and start searching. Many luxury homes are not listed online due to the seller looking to maintain privacy. You will often gain access to these homes through your real estate agent.

Choose the Right Real Estate Agent

Your agent needs to be well versed in the luxury market for the local area you plan to search within. They should work exclusively or mainly within the luxury market helping buyers and sellers in the neighborhoods you’re targeting. With a luxury real estate agent on your side, you’ll gain access to the right properties for your specific needs.

Know Your Wants First

Buying a Luxury Home - 9 Keys to Buying a Luxury Home

You have a ton of options to choose from when it comes to luxury features in a home. Make sure you know what you want and what you’re willing to change about a home before you start searching. If you must have a large home with a certain number of bedrooms, make this a priority. However, don’t be afraid to search for a home fitting your specific taste when it comes to amenities, as well.

Take Your Time

This is a huge purchase and not one you should take lightly. You want to take your time and be patient while searching. Just because a property is for sale doesn’t mean it’s the right choice for you. Make sure it fits your needs and wants. After all, you’re spending a large amount of cash and you shouldn’t have to settle.

A few other keys to buying a luxury home include:

  • See it in Person; don’t trust the pictures
  • Always get a thorough home inspection done
  • Understand the resale value
  • Check out the neighborhood
  • Know your financing options

Use these keys to buying a luxury home and you’ll be well on your way to living in an upscale home you’ll love.

Join one of our Luxury Home Buying FREE Seminars.

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4 Responses to “9 Keys to Buying a Luxury Home”

  • Alexandria Martinez

    Written on

    My mom has been thinking about buying a luxury home for sale for a little while now. She wants to look into the various ways in which to get this done. I will let her know that know what she wants first will greatly hep the process.

    Reply
    • Cory Kammerdiener

      Written on

      Alexandria, we would be glad to help. We also have in-house financing and specialise in Jumbo Loans with low down payment requirements, little to no PMI and great rates! You can visit our mortgage division at http://www.BorrowersFirstMortgage.com

      Reply
  • Camille Devaux

    Written on

    It makes a lot of sense that you would want to look at the home in person. This is a great way to make sure that you are getting exactly what you pictured from images. My sister would love knowing this as she looks at luxury homes for sale.

    Reply
  • Millie Hue

    Written on

    I love that you pointed out how taking our time is a must so that we will be able to choose the ones that fit our need and not just because it is on sale. I will share this tip with my husband to keep him from being carried away when we see discounted houses. We just decided to upgrade to a luxury house to reward ourselves for being successful with the art exhibit that we had last month.

    Reply

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