Luxury Home Buying: What you need to know

Dated: March 18 2021

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Investing in a luxury home is the goal for many home buyers. If you are embarking soon on this exciting journey, here are a couple of key reminders and tips to bear in mind.

  1. Check out the property in person.

    It is common sense for home buyers to see the property they’re interested in person. This is even more important if you are buying a luxury property for a couple of reasons.

    First, photos don’t often capture the scale of the property, especially if we are talking about mansions and estates. Second, it is also entirely possible for listing pictures to not do a luxury property justice.

    Don’t forget to take a look at the whole property. Tour the entire estate, if the lot if a couple of acres of more. Another way to see the scope of the property is to log on Google Earth and look at the lot via satellite images.

  2. Work with a luxury homespecialist.

    Luxury homes are on a league of their own, which is why getting the help of an expert is warranted.

    With a luxury real estate specialist on your team, you will be able to navigate the process and nuances of luxury home buying. You might even get to view properties not listed online, as some high-end sellers are wont to do.

    An expert on luxury homes will also be able to help you take care of financing and other matters. Get in touch with our team today to connect with top luxury real estate agents in the Phoenix metro area.

  3. Look into the past and future of the area.

    Doing adequate research about the community and luxury property you’re interested in is also a must. You don’t want to buy a gorgeous estate with a haunted past, but a luxury home with provenance? That’s something might want to look at.

    It is also important to have a realistic idea of what the area would be like in the next three to five years. If you are looking for a hidden escape with the Sonoran Desert as a back drop, you’ll want to avoid areas that are currently undergoing rapid development.

    Historical market data can also help you determine whether the luxury property you’re eyeing is a great long-term investment. It would do well to concentrate your search on areas that are experiencing stable growth in home values and prices than on declining communities.

  4. Don’t skip the inspections.

    Inspections are important in buying a home, especially if it’s a luxury property. Standard processes won’t do, particularly if the house has certain special features and highlights.

    Hiring one or more inspectors to make sure the property is worth all that money can be expensive, but it is an investment with incredible pay-off in the long-term. In some cases, issues found during the inspections can even be used to negotiate the price of the property.

Aeris House Properties knows Metro Phoenix’s luxury home market well. Contact our team today to get started.

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