Looking to buy a home is an exhilarating process. Scrolling through photos and imagining your life in the house can make hours go by in the blink of an eye. Buying a luxury home is a process you want to do your homework on, as some tips and strategies are similar and different from your typical homebuying process.
Luxury homes are, by definition, homes priced within the top 10% of properties on the real estate market. Luxury homes are often in prime areas, larger, constructed, and finished with high-end materials. They are designed with unique architectural details that make the property stand out from others on the market. The features of luxury homes tend to be rare and make them highly coveted.
Understanding how the buying process works
When looking to buy a luxury home, it’s certain to come with a particular price tag, along with all the amenities one would expect to find. Understanding the buying process will give you a better understanding of what to expect throughout the process, as well as techniques that will help you find your perfect home. Learning about the homebuying process will save you time, stress, money, and unnecessary headaches. In addition, knowing what you are looking for in a luxury home, especially whether you prefer buying a new construction or an existing home, will help kick off the process on the right foot.
Research different neighborhoods
Once you find your ideal neighborhood, your realtor can send you a list of homes for sale in Beachwood Canyon that fit your needs. Location is the most critical factor when looking for a home, as you’ll spend significant time in that neighborhood. Considering what amenities you’re looking for in your community is a great place to begin. For example, do you want easy access to a larger city? Do you want lots of parks, restaurants, and shopping? Once you find your ideal neighborhood, you and your realtor can look for homes in that area.
Work with a buyer’s agent who knows the area
Identifying luxury properties on the market is relatively easy, but buying these homes is more complex than you may think. Luxury homes rarely hit the market; when they do, they sell very quickly. The best way to buy a luxury home is to work with an
experienced realtor. Finding a professional specializing in helping buyers purchase a luxury home can save you a lot of time and stress, as they can guide you through the homebuying process.
Your realtor will know the home’s market value and can educate you on property values in the area. Homes valued within the midrange of other properties will make it easier to sell your home if the time comes. In addition, the realtor will provide you with the most recent trends and help you throughout the entire homebuying process and can help you find problems with the house that you might have yet to discover. Working with a realtor will also help you stick to your goals and budget.
Prioritize what you want in a home
Before you start touring houses, you will want a clear idea of what you’re looking for in your home. This list can include the number of bedrooms, bathrooms, and amenities. For example, if your must-haves list is an existing four-bedroom, four-bathroom house with stunning views, an entertainment system, a home gym, and a chef’s kitchen, then your realtor can narrow down the options to find ones that fit your needs. This will save you a lot of time, as you won’t be seeing homes that don’t have what you want. Additionally, knowing what amenities you’d be willing to splurge on makes it easier to consider what you’d be willing to give up.
See the property in person
Looking at a home online and taking a virtual tour of the property is a great way to get a feel for the space, but if you are really interested in the house, take a tour in person. Pictures and virtual tours can only tell you so much about the property and can hide potential problems. If you can, tour each property you’re interested in to get a feel for the space, examine the quality of the property, and imagine yourself and your belongings in the room.
Sellers will do everything they can to make their homes look amazing, including hiring professional photographers and interior designers to stage their homes. The photographers know how to use the space and lighting to make a room look exactly how they want it, so the actual size of the room can be misleading based on the pictures alone. Additionally, looking at the immediate vicinity surrounding the property is recommended to get a feel for the neighborhood.
Consider the future
It’s important to keep future developments in mind when looking at luxury properties. If your new house has breathtaking views, having those views obstructed by a new high-rise building in a few years would be devastating. Before signing on the dotted line, ask your realtor about any other developments in the area you’re considering. Your real estate agent will give you insight into what buildings are in the works or any building restrictions that could impede any renovations you’d like to make. Your realtor can also find information about the rules and regulations of a homeowners association.
Partner with a professional
Luxury homes in Beachwood Canyon are only available to a small percentage of people because of the high price point, so taking the time to ensure that your new luxury home is everything you want is vital.
RSR Real Estate can advise you on how to buy a luxury home in Beachwood Canyon and help you find your dream property.
Call them today to get started.
