Searching For A Luxury Home? A Few Things to Consider…

(July 31, 2015 )

The market for high-end luxury properties is unique. Luxury homes will always maintain a certain cache, and those who are buying today are securing not only incredible homes but also the incomparable lifestyles they evoke.The good news is that there are many incredible buys out there for luxury properties. Wherever and whenever you plan to buy your first or next luxury property, here are a few tips to consider:
1.  Envision your desired lifestyle The first step is deciding the type of lifestyle you are searching for. Will this be a primary residence in a metro area, or will it be a vacation home? Particularly when it comes to second and third homes, many luxury buyers are not geographically-bound but rather have a clear vision of how they want to enjoy the property. Let your mind wander, but in addition to the property type, hone in on the detailed aspects that are important — acreage, maintenance-free, kid-friendly, etc.
2. Only Work with Local ExpertsProperty values, markets and neighborhoods hold a lot of subtle differences. Instead of having an inexperienced agent, find a local realtor who specializes in luxury homes and  will know what they are talking about. They can help you form an appropriate offer based on comparable listings and recent closes. They can also use their networking skills to get you through the doors of houses you would have never heard about otherwise.
3. Go Beyond Typical SearchesMany luxury homeowners do not want their listings on the Multiple Listing Service (MLS) for privacy reasons. Even fewer are willing to make their listing publicly known on giant search engines. To find the truly remarkable properties, you and your agent will have to dig deep. Use their networking prowess and your own internet search skills to cut through the less remarkable listings to find a home that is truly worth your time.
4. Look at Listing Photos with an Critical EyeLuxury home listing photos can be deceiving. Some homes that are breathtaking in person look unappealing from front elevation photos. Other sellers will over-hype their property with professional photos that can often use lens trickery or post processing to exaggerate the size, style and atmosphere of homes. Never write a home off nor put it on a shortlist just because of photo quality.
5.Consider the future.Your luxury home investment needs to be carefully considered for the future, in particular your expectations in terms of your return on investment. Most luxury home buyers are buying a lifestyle and don’t intend on flipping their home anytime soon. Given the volatility that still exists in today’s market, make sure you’re not headed into your luxury purchase with unrealistic thoughts of financial gain but rather to enjoy a spectacular home for many years to come.