5 Tips For Buying A Luxury Home

Luxury homes are usually located in the most optimal areas of the market and generally in the top 10%. They are built with high-end materials and often have unique design elements not found in most homes. If you have not purchased in the luxury home market before, just be aware that the process can be very different from buying a single-family home. Here are some tips to help you navigate your way through the market.

1. Be patient. Shopping for a luxury home may take longer than average. Since many luxury homes have dècor or features that are distinctive and sometimes eccentric, finding one that matches your style may take a little while.

2. Know where to look. Luxury homes, particularly if they belong to an area with high-profile people, often aren't listed on MLS. You may need to work with people in your desired area to find out what homes are being offered. Look online as well.

3. Look for planned development. Make sure you know of any development plans that may affect your view, the amenities around the property and the future resale value. 

4. Consult with your financial advisors. Luxury home sellers often want to see proof that you qualify for the purchase of their home before they even allow a showing. Everything is scrutinized more closely at the luxury price range. Make yourself aware of all the financing options available to you.

5. Work with an experienced luxury home agent. The right agent knows all these tips and more! They are knowledgeable of the high end neighborhoods in the market and understand the intricacies of negotiating and closing on luxury homes.