Making a meaningful move is very exciting, but can also feel daunting. Particularly with luxury home purchases, there are additional elements to consider to aid in the seamlessness of the process. From assessing what “luxury” really means to you, to partnering with a successfully proven local expert, our team shares their guidance for buying a luxury home…
- Determine what “Luxury” means to you
The term “luxury” can mean many different things to different people and families. For one person, luxury may be a large number of spacious bedrooms, or a grand kitchen for entertaining. At the same time, another family may consider luxury an expansive backyard with a pool and treehouse or a finished basement with a theatre room for viewing movies at home. Specifically defining luxury – and sharing this definition with your agent – will help to ensure that you see luxury homes that fit what you are looking for, and not someone else’s assessment of what luxury means.
- Be patient
Keep in mind that searching for a luxury home may take longer than average. Since there are not as many luxury homes available, let alone on the market, their uniqueness requires patience. Once one is available, you have to determine if it fits your style and definition of luxury. If not, the waiting will commence to find a better fit.
Once you find your luxury home, be prepared for the closing process to also take a bit more time. There is often more to inspect and negotiate on, which takes time. Having patience through the process is worth it though, to ensure you choose a luxury home that is perfect for you and your family.
- See beyond the photographs
Remember that professionally taken photos of a home can make a big difference in how the home looks online versus in person. Visiting the home and walking through the space yourself is a much more beneficial way to get the full effect of the property. We also recommend going more than once, and at different times of the day if possible! Working with your agent to schedule private tours, or joining during an established Open House window, are great ways to get comfortable with the home and neighborhood.
- Look for strong resale value
For all homes, but especially luxury homes, you want to make sure that you are setting yourself up for success in the future. Location and condition are two important factors that help to determine what makes for strong value. Buying a home in a great location, with high demand, is a way to better ensure your home keeps its value as time goes on. Keeping the home in a strong condition and prioritizing its maintenance is another way to help with resale down the road.
- Work with a Local Expert
Partnering with an experienced luxury home agent is one of the best ways to help secure the luxury home of your dreams. Finding a reliable agent who you can trust – and also knows the local market, community and real estate world incredibly well – is extremely important. The right agent can also provide you with helpful tips and insights, share knowledge about the neighborhoods where luxury homes are listed, and advocate on your behalf during negotiations and closing.
At The Mike McCurry Group, we are proud to have a team of experts with proven success in luxury home real estate transactions. For 32 years, Mike has helped over 1,600 families make meaningful moves in our community. Learn more about his customized approach to selling and buying luxury homes, and how he can leverage his expertise to help you achieve your home-buying dreams.