Buying a luxury home is more complex than buying a lower-priced home. Perhaps the most important thing you’ll need is patience. Some buyers wait months to find a property with the specific features they desire, but there are ways to speed and smooth the process so that you get what you want in a reasonable timeframe.
Choose a Local Agent
A local real estate agent knows what’s on the market, what’s coming soon, and how you can get a peek at luxury homes that interest you. Agents don’t usually hold open houses for high-end properties, but local real estate professionals can get you inside the ones that are likely to be a good fit. Make sure that the local agent you choose is experienced in selling homes in your price range so that the process goes well from first contact through closing.
Understand Buying Specifics
Buying luxury homes is a bit different than buying other homes because high-end properties aren’t usually listed on the MLS or marketed online. Luxury homes are often not listed anywhere to protect the identity and privacy of the sellers. Instead, homes in this price category are usually sold through networking among real estate agents. Local agents who specialize in luxury homes know the right people so they can connect their clients with suitable properties.
Consider Additional Neighborhoods
The chances of finding a home with certain narrow specifications in your desired neighborhood are small, but when you expand to include nearby neighborhoods, options increase. The first step in broadening your approach is to study nearby neighborhoods to determine which might be suitable. Holding an emotional attachment to a specific street or neighborhood limits your ability to find a house that will satisfy your needs.
Know Your Priorities
Make a wish list that’s as long as you like, but know which amenities are your priorities. There’s no reason to turn down a home because it’s missing one or two features that you can add later. Deciding which amenities are vital parts of your dream and which are passing fancies can increase the number of properties available for you to consider and speed up your luxury home search. Real estate agents can guide you to properties that fit the most important parts of your criteria if you tell them what those are.
If you’re able to buy a luxury home, you deserve the best. Something that fits all the criteria in your mind, however, may not be available. You must decide if you will build a new home, wait for more properties to come on the market, or select the best of the luxury homes available. Keeping an open mind means fewer doors are closed to you.
Anita Ginsberg is a freelance writer from Denver, CO. She studied at Colorado State University, and now writes articles about health, business, and family. A mother of two wonderful children, she loves traveling with her family whenever she isn’t writing. You can find her on Twitter @anitaginsburg
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