If you're in the market for a luxury home, take the time to do it right. You're the only one who can determine what luxury means to you. Whether you're looking for a sprawling estate in the middle of Beverly Hills, or a mountain retreat in Mammoth, don't settle for anything less than your vision of luxury. Once you know what you're looking for, you'll be ready to hit the market running. Here are three tips that will help you avoid problems when searching for the perfect home:
Start with the Right Realtor
To find the perfect luxury home, you need to start with the right realtor. You're going to need one who can get you into all the right neighborhoods, including those "invitation only" listings. Don't risk missing out on the perfect home because the realtor you chose didn't have access to the cream-of-the-crop luxury listings. Before you choose a realtor, make sure they're ready to jump into the luxury pool with you.
Purchasing a luxury home requires a bit more work, especially when it comes to the financing. Most lenders are going to require additional paperwork, documentation, and time to put the package together. If you wait until you find the perfect home, you could lose out on the sale while you're waiting for mortgage approval. To make sure you're ready to jump while the iron is hot, take the time to obtain pre-approval status before you start looking for a home. This will give you the time you need to put your application together, gather the necessary documentation, and wait for approval. Once you have the approval in hand, you'll be ready to go find your dream home.
Go Beyond the Basic Inspection
Once you're pre-approved, and you've found the perfect luxury home, you'll want to avoid any hidden issues later. Before you sign on the dotted line, have the home inspected for defects. Don't settle for the basic inspection-- go beyond. This is particularly important if the home you've chosen has luxury items such as a home theater, cigar lounge, wine cellar, or water effects outside – swimming pools, waterfalls, etc. The best way to ensure that each aspect of the home is free from defects is to have them inspected by qualified technicians. Once each system is inspected and signed off on, you'll know that you're not purchasing any hidden defects.
Don't take chances with your real estate purchase. Use the information provided here to avoid problems when you purchase your luxury home.
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