Searching for and securing the perfect home always comes with a few challenges. This is as true when it comes to luxury real estate as it is for properties at lower price points. Fortunately, a bit of knowledge—and some guidance from the right professional—can help ensure that your high-end purchase is a success.
Here are five luxury real estate tips for finding a property that suits you perfectly…
1) Consider exclusive listings
Not every seller wants to spread the word about their home far and wide. For a variety of reasons—which include the desire for privacy—many prefer to keep their properties off the MLS. These homes are known as exclusive listings, and having access to them can increase the chances that you’ll find that one-in-a-million luxury real estate property.
The key is to work with an agent who’s well connected within the high-end market. Someone who has plenty of luxury experience can draw on their networks to find as many homes with potential as possible.
Interested in seeing what’s for sale beyond the MLS? Get a sense of what’s available with our selection of exclusive properties.
2) Know your communities listings
Knowing about promising local areas is always crucial. Whether you’re seeking a luxury living space or not, consider the amenities you’re looking for (which could include everything from local green spaces to nearby grocers).
Of course, as a high-end buyer, you may be seeking a lifestyle that only a select few communities can offer. From private schools and country clubs to high-end boutiques and restaurants, the exclusive neighbourhood features that interest you may help determine where you start the home hunt.
Fortunately, an agent who knows the local luxury real estate market can help you find your dream property—whether it’s a spectacular penthouse in Yorkville or a grand mansion in Forest Hill.
3) Take the time you need
Buying a home is always a big commitment, especially when there are large sums of money involved…it pays to consider your options. As a luxury buyer, you’re almost certainly well-positioned to purchase a property that checks all your boxes.
Of course, you may opt to act quickly if you feel certain that you’ve found the perfect upscale home. Having said that, there’s nothing wrong with being discerning. In some cases, there’s less competition for luxury properties (since there are fewer buyers who can afford them).
Every buying scenario is different. A skilled local agent can help you understand the demand for any home you’re considering, and how it could impact your purchase.
4) Work with the right agent
From financing options to what constitutes a good deal, there are differences between buying a luxury home and one at a lower price point. To ensure that everything goes smoothly with your high-end purchase, it’s best to work with an agent who has the right expertise.
Fortunately, you have no shortage of options. Here at Harvey Kalles, our local professionals have the market knowledge and luxury experience to help buyers secure the outcomes they deserve!
5) You don’t have to forgo negotiations
Just because you can afford a luxury home doesn’t necessarily mean you should pay the full list price. As is the case with other types of real estate, you may find yourself in a good position to negotiate using recent local data.
Of course, rounding up prices for comparable homes can be slightly more challenging in the luxury sector. That’s because, as a rule, there tend to be fewer properties at these price points, and the homes tend to have unique features. Fortunately, an agent with the right expertise can use the most relevant information available to help secure the best possible price for you.
Preparing to buy a luxury property? Get to know the experts at Harvey Kalles along with more luxury real estate tips—and find a professional who’s a good fit for your purchase!