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There are do’s and don’ts to follow when buying luxury real estate. These include taking time to do a deeper search and working with an expert.
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April 24, 2017 The Do’s and Don’ts of Looking for Upscale Real Estate in Plymouth Image 1: A Quick Guide to Successfully Choosing and Purchasing Real Estate High-end houses can be somewhat trickier to buy than regular residential properties. Unless you are paying with cash, there’s a bit of a challenge in establishing your capability as a buyer. Pre- approval letters, specialized brokers, and other technicalities may be required in the buying process. While the luxury real estate market is booming, there are do’s and don’ts you have to be aware of. Page | 1
Do Search Deeper Unlike ordinary houses, luxury homes may require more research skills to find. You can’t just google a property and expect the most amazing one to show up. The first step is to define what you want with regard to location, size, features and even price. Most real estate sites allow you to use filters that significantly narrow your search. Spend time on your search process so you can discover even the most private houses for sale. Do Work with an Expert If you know where you want to live, then you may want to find an agent specializing in that area. The high-end market offers fewer open houses and appointments that only agents familiar with a particular area may have access to. Working with a professional agent will give you a better chance of finding the kind of property you’re looking for - definitely a better chance than surfing the internet on your own. Do Note Everything Shelling out millions for a luxury home is an investment that can change your life. Also, luxury real estate transactions are subjected to greater scrutiny. That’s why you need to document everything, including your financial records. Ask an accountant to help you manage your finances and prove your capability to purchase high-end real estate. Don’t Just Stick to the Photos Photos are a good basis for evaluation but you shouldn’t rely solely on them. Many great houses aren’t that attractive in photos. You may have to conduct an on-site inspection to see how they really look. It’s best to personally check the property to determine whether it suits your needs and preferences. Don’t Ignore the Future Learning about the building and development plans around the house you’re eyeing will help you make an informed decision. Look into the future and see if you’d still want to live in that house several years from now. Ask yourself what would happen if a taller building is built around your property? Are there attractions being planned in the area? How would they affect your neighborhood? Taking the future into consideration will allow you to see whether you’re making a good investment. Page | 2
Searching for your dream home requires time, some effort, and good decision-making. Following these do’s and don’ts is a good start towards your journey to finding your very own luxury real estate. About The Bartikoski Group: With diligence and experience, we at The Bartikoski Group aim to meet the needs and expectations of our clients. We are a team of experts committed to getting the job done by ensuring that you get what you deserve. Whether you’re buying or selling real estate, you can always count on our help. Source: Waterfront Buying: Top 10 Tips from Agents, Hgtv.com Tips on Buying Luxury Real Estate, Businessinsider.com Page | 3