Finding the perfect luxury home may take some extra work and research on your part. If you've never made a purchase like this before, here are some tips you can use to help ensure your shopping experience goes smoothly.
Hire The Right Real Estate Agent
Unlike traditional single-family homes, luxury real estate can be more difficult to find on your own. Some sellers keep their listings private to protect their identities and privacy, and that means you won't be able to find all of the homes available for purchase. Hire a real estate agent with experience selling high-end or celebrity homes, and ask about successful closings the agent has already completed. Your real estate agent may be the key to finding the perfect property.
Get Your Finances In Order First
When shopping for luxury homes, you may find that sellers aren't willing to show their homes unless a potential buyer has already been vetted. This means you will have to start the process of proving your income before even browsing for homes. Work with your real estate agent to get pre-qualified for a loan, and begin gathering other documents to show you are able to afford the cost of the home. In some cases, you may need to prove that you can afford the monthly mortgage payments while still having a certain amount of liquid assets. Your real estate agent can help you gather all the necessary paperwork for the early stages of financing and loan approval.
Narrow Your Search
Just because a home costs millions doesn't mean it's a luxury abode. In some competitive housing markets, even relatively small condos and single-family homes can cost just as much as a luxury home in a less expensive area. Take the time to investigate the listings you might be interested in so you can narrow down your search and eliminate regular homes that might simply be located in an expensive market. One way to do this is to create a list of must-haves, such as an indoor swimming pool, home theater room, or wine cellar, and provide the list to your agent. He or she can then use that information to help weed out homes that aren't truly luxury dwellings.
Once you've taken these steps, you can begin to schedule showings for homes you are interested in. Consider visiting the property more than once before making a buying decision so you can feel confident you are purchasing the perfect dream home.