Buying a Luxury Home
According to the National Association of Realtors, nine out of 10 buyers use the Internet at some point when looking for a home, and 43% of recent buyers first found the home they purchased online.
If you want to buy a luxury home in the Los Angeles area, at some point you will want to partner up with a real estate agent that specializes in finding you the perfect place. Home buyers can be at a disadvantage during their home searches online because some of the most premium properties aren't listed on MLS or search engines. And, in order to protect their privacy, many sellers avoid putting information and photos of the property on the internet.
Find a Qualified Real Estate Agent
If you are in the market for a luxury home in Los Angeles, a qualified real estate agent like myself who knows the luxury market is your best bet for finding properties that are for sale but that are not necessarily easy to find because of privacy concerns. I am familiar with the luxury market may have inside information about listings before they hit the open market.
I can help you determine the market value of a luxury property. Most residential real estate is valued using comparables - similar properties in the area that have recently sold. Valuing luxury properties can be a challenge since often there are no two similar properties in the area.
The loan process for luxury homes typically takes longer than for smaller mortgages. Even if your financials are in good order, it may take 45 to 60 days to secure a loan. Since it can take extra time, and because the seller of a luxury home is often interested in showing only to qualified buyers, I usually recommend having your mortgage broker, loan officer or personal banker obtain your financing approval early on in the process.
As with any real estate purchase, it is important to take the time to properly inspect a luxury home prior to purchase. In many cases, luxury homes are larger and have amenities that may require specialized home inspectors, such as:
- Pools and spas
- Fountains and ponds
- Lawn irrigation systems
- Exterior fireplaces
- Automatic screen and awning systems
- Central vacuum systems
- Heated floors/driveways
- Sophisticated security/surveillance systems
- Landscape lighting
When you want a fair, professional, and dedicated luxury real estate partner working not only FOR you, but WITH you, please contact me. My only goal is to find the perfect fit between my clients and the luxury homes they deserve.