Most buyers know luxury real estate when they see it. The scale is grand. The location, ideal. The house, much more than a home. If you plan to buy or sell a luxury home, you are in good company. With low interest rates and a hot housing market fueling the frenzy, luxury home sales are breaking records across the country.
When it comes to looking for a starter home or even a modest upgrade, real estate agent expertise and experience matter. But these traits become even more important for someone who wants to sell or purchase luxury real estate. The reasons for this are many:
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Money matters.
Most people who invest in luxury property owe their success to hard work and wise use of time. While junior employees can afford the time to scour websites and pound the pavement in search of great bargains, successful entrepreneurs and C-suite executives understand that time is money. So, they appreciate working with an expert who does the legwork for them—showing only the best possible options.
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Connections count.
As it is on a more modest level, with luxury homes, networking is critical. Discerning buyers snatch up the most luxurious properties before the rabble even knows the home hit the market. Anyone interested in buying or selling a mansion benefit from the experience of brokers and agents in the know.
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Money talks.
The real estate professional you choose for a modest transaction is much less than what someone pays when selling a six-figure home. Don’t leave your property search to someone who doesn’t intricately understand the luxury market.
To help you on your quest, we have prepared 5 steps to help you buy luxury property.
5 Steps to Help You Buy Luxury Property
- Hire the right agent.
Although this is always the case, in luxury transactions, working with the perfect real estate professional will make the difference between a successful transaction and a frustrating process. - Don’t forget about the basics.
The foundation of energy efficiency begins with the basics — sealing and insulation, an orientation for optimal efficiency, adequate ventilation, an HVAC system correctly sized for the house and Smart appliances. The green issue looming on the horizon is water usage. Consider any feature that conserves water or collects water to be a plus. - Secure financing in advance for luxury real estate.
Most luxury mortgage brokers can assist you with this. With this move, as long as the terms you offer are attractive and you bring a large down payment, you can compete with a cash buyer offering less than market value for the home. - Do due diligence.
Since luxury homes are large, they feature amenities requiring specialized home inspectors. (If you work with an experienced real estate professional, he or she will be able to help you find experts of this kind.) At SoCal Platinum Properties, Inc., we cover the cost of both the home inspection and the termite inspection. It’s just an extra perk we like to offer to our clients. - Take your time.
Even in a hot housing market, it may take time to find the perfect property. Trust the real estate agent you are working with to find you the right home and to negotiate on your behalf to make sure you secure it.
About SoCal Platinum Properties in San Dimas, California
At SoCal Platinum Properties, we offer unique perks to clients who list their home to sell with us. One benefit that we provide, which most other realtors do not, is that we will pay for and arrange to have a home inspection before we put your home on the market. The reason we do this is because we want to eliminate potential potholes down the road, when prospective buyers could use items the home inspector uncovers as an excuse to pay less than they bid. What’s more, resolving minor repairs on the front end often means you can ask more for your home rather than selling it “as is.” To find out more about how to take advantage of this perk and list your home with SoCal Platinum Properties, call (213) 709-5178 today or compete this contact form.