Expert tips for buying a luxury home
This majestic European-style mansion has a detached guest house and a grand balcony with around 1,500 square feet of entertaining space. View more property details here.
- Work with a qualified real estate agent
Most buyers will do an online search at some point when looking to buy a house, but not all luxury properties that are up for sale will appear on the MLS. There are sellers who refuse to have their homes listed in order to protect their privacy. Such homes are considered off-market listings, and only a well-connected luxury real estate agent can lead you to these properties.
Working with an agent with inside information can help you find fantastic homes that you may not otherwise have access to. Off-market listings generally have fewer open houses. Your agent can set an appointment to make sure you get to view the home.
- Draw up a list of must-have features
Luxury homes come with their own facilities, but it helps to create a list of non-negotiables in order to streamline the search process. Let your agent know if the home you’re looking for should have a tennis court, a wine cellar, smart home technology, a certain number of bedrooms, and so on.
You’ll need to take your lifestyle and interests into consideration when you specify the home’s must-have features. A good agent will develop a good understanding of what you want and suggest listings that will suit you.
- Evaluate the home
Evaluating a luxury home is not quite the same as evaluating a regular home. Most homes are evaluated using comparables, or similar properties that recently sold in the neighborhood. However, assessing a luxury home can be more challenging because often, there aren’t any similar properties within the vicinity, or it may have unique features and upgrades that have a bearing on its value.
A detailed tour of a luxury property may take a longer time, as you’ll have more ground to cover. Architectural highlights, construction methods, and how the security system works are just some of the things that you’ll have to discuss with the listing agent. You and your agent must pay attention to the nuances of the home.
- Evaluate the neighborhood
There are a lot of amazing neighborhoods in Murrieta and Temecula that offer luxury real estate opportunities. Both cities are highly regarded – the former is known for its family-friendly environment, while the latter is famous for its wineries and festive atmosphere.
If you’re buying a luxury home in these cities, find a local agent with expert knowledge of the neighborhoods. Hire someone who knows the culture of the place, and who can inform you of future developments that might have an effect on the value of your property.
- Have inspections made
Luxury homes are larger than the average home, and often come with a number of amenities. Keep in mind that these amenities may require specialized home inspectors:
- Pools and spas
- Ponds and fountains
- Landscape lighting
- Lawn irrigation systems
- Exterior fireplaces
- Heated floors and driveways
- Automatic screen and awning systems
- Central vacuum systems
- Sophisticated security and surveillance systems
- Work out the details
There are high stakes involved when buying a luxury home, and so it’s necessary to consult with bankers, attorneys, and tax and financial planners. These professionals may be directly involved in the real estate transaction. They can help protect your interests and make the transaction run smoothly.
With these tips in mind, you’ll be the proud owner of a luxury home that suits your lifestyle.