The search for the most luxurious homes in any area will take you through many properties that you otherwise might have never seen. Viewing exclusive real estate properties will oftentimes require a realtor with the right contacts, as well as the completion of a few tasks on your part. For those who want their next home to be in the elite tier, they find the following tips insightful.
Pair with a real estate agent who has luxury real estate experience
Your first step is to find a real estate agent who knows this segment of the market. While a great number of agents have successful careers in representing buyers and sellers, not every realtor will have developed the necessary relationships to show true luxury properties.
Many luxury homes are not publicly listed for sale. Home and Garden TV
reports that sellers in this bracket want to protect their privacy, so their properties might not appear in a search among homes in the MLS listings.
To find these homes, you’ll need a realtor who not only knows the market but also has built the right contacts over the years. A truly great luxury real estate agent will have networked with buyers and sellers in this market, generating referrals from them when one is thinking about selling.
Could you view exclusive real estate properties on your own? While that’s certainly possible, it’s not likely. Unless you are connected to individuals who already own this type of real estate, you’ll be hard-pressed to find one who is selling, as these properties make up such a small segment of the market.
Prove your financial worthiness
Obviously, not every buyer will have the financial qualifications to consider luxury real estate. Long before you ever set foot on this property tier, you’ll need to show proof that you can afford it. This process will typically begin with the luxury real estate agent you’ve paired with.
A luxury real estate agent will not show exclusive real estate properties to you until you can bring proof that you can afford homes of this caliber. The agent will likely have you show documentation from your bank or financial institution. If you are paying cash, they’ll want these statements to show a balance that could cover the sale amount. If you are financing, they will want you to have undergone the prequalification process with a lender.
When you are prequalified for a mortgage of any amount, the lender will give you a letter to show your agent. This letter does not guarantee that the loan will be granted, however. There will be a final credit check just before the closing date to make certain that your financial situation has not been negatively impacted between the prequalification and the closing.
Look for homes that have the amenities you want
Luxury homes take residential property to an entirely new level. While no two homes are identical in this segment of the market, you’ll find that these homes offer a lot more than just massive amounts of square footage. Master bedroom en suites, spacious walk-in closets and/or separate dressing rooms, and the latest built-in technology money can buy are standard in many of these homes.
Some luxury homes will be adorned with ornate woodwork, marble, or other high-end surfaces. The exteriors are often landscaped beyond imagination, sometimes with sweeping lawns and mature trees.
In-ground pools, tennis courts, and other recreational amenities can often be found on the grounds of luxury homes.
Before you enlist an agent to help you with your search, figure out what you want your next luxury home to offer. While it can take a bit more time to find the right one, the wait will be worth it if you get exactly what you are looking for.
Location can be as important as the property itself
Luxury properties can be found in a variety of locations. Some are neatly constructed along the winding roads of country club communities. Others will be nestled in sprawling subdivisions, the homes placed far apart to lend an air of privacy. And you’ll find some in the historic districts of city areas, totally rehabilitated to their original grandeur.
The type of area you wish to live in will dictate how you begin your search. If you want privacy and 24/7 security, there are luxury real estate developments built just for those purposes.
But maybe you want a home adjacent to a community building and swimming pool. Country club neighborhoods and other subdivisions will often have these amenities for their residents and members. It’s certainly a much more social environment in a luxury neighborhood like this, a sense of community evident among the residents.
No matter what you are looking for in a neighborhood, it’s best to discuss potential locations with your real estate agent early in this process. They will help narrow down potential property matches so that you will only view homes in places that suit your needs.
The bottom line
It will be quite difficult to find luxury real estate without the assistance of a luxury real estate agent. If you are able to find listed or unlisted luxury homes on your own, you’ll still benefit from a realtor’s expertise. They will lead the negotiating process, handle the complicated closing process, and have an army of referrals ready to lead you to other professionals needed throughout the luxury homebuying experience. If you’re considering luxury real estate, the Rader Homes Team has the perfect combination of experience and connections to lead you to your next elite home.