A luxury home isn’t your average house. It has a set of unique, extravagant features that sets it apart from other houses in the area. These can include hotel-like amenities, customized features, as well as professional kitchen facilities and appliances.
Ready to buy a luxury home that’ll allow you to live in comfort and leisure? Here’s what you need to look out for during the house-hunting process.
The Type of House and Neighborhood
The first thing you need to look out for is the type of home that best suits your specific requirements, as well as the neighborhood it’s in. This can be determined by your family’s needs, financial standing, as well as personal preferences. For example, do you want a luxury home with a large backyard or several bedrooms? What about the neighborhood it’s based in?
Instead of narrowing down houses randomly, research the locality. Find out the area’s crime statistics, the nearby amenities, and the structures of the houses. Decide what type of home and neighborhood will best match your needs and preferences, and then shortlist houses that tick most if not all the boxes.
Home Inspection Opportunities
Don’t miss out on opportunities for on-site inspections of the luxury home you’ll potentially buy. While the pictures available online may enhance the house’s appeal, you want to visit the site and see it for yourself as well. This will help you personally evaluate the many different features the house has to offer while also giving you a chance to discover any seemingly minor as well as major disadvantages. Consequently, you can then better determine future maintenance and upgrade costs.
For instance, when Candy and Aaron Spelling’s 123-room mansion in Holmby Hills “The Manor” sold for $85 million in 2011, the buyer Petra Ecclestone conducted extensive property inspections. In fact, she even hired a team of forensic scientists to check the house for mold before closing the deal. Several samples were collected and tested on the spot to ensure that the luxury home was free of mold.
A Local Expert to Guide You
Finally, it’s imperative that you hire a real estate agent to help you navigate through the process for the first time. In fact, having a local expert by your side isn’t only instrumental for first-time buyers; it also benefits seasoned property sellers and buyers.
An agent who specifically deals with properties in the area you’re interested in can provide you with a vast range of houses for sale for you to choose from. They’ll be able to properly guide you about the type of luxury home you should get, and will show you around other similar-looking houses in your desired locality for a better comparison. They also have access to high-end properties and may even have knowledge about pocket-listings that are for sale but haven’t been publicly advertised.
In addition to this, a real estate agent who deals exclusively with luxury properties will be familiar with the changing and stagnant trends in the market.