Avoid The Ryan

Expert Tips For Buying A Luxury Home

If you’ve finally decided to buy a luxury home that you’ve always dreamt of, well done! High end homes range from modern condos in the city to an estate in a farm, so you have a number of options to choose from as your preference. A luxury home is a huge investment so you need to be very sure about your decision before you put your money on it. Here are some expert tips to follow.

  • Look for your requirements

Your dream luxury home should not be a compromise. You have earned it so you have all the right to choose and reject whatever that doesn’t match your expectation. If you want an indoor pool, go for it. If you want good walk in robes, don’t settle for a small closet. If you want a home movie theatre, look for a home that already has one or has a room that could be turned into one. Remember that you shouldn’t settle for less. You’ll be in this home for a long period of time so might as well be picky and make the right decision.

  • There’s room to negotiate

Most often people are reluctant to bargain or negotiate on luxury homes as they feel it lowers their status. It is your right to negotiate by comparing prices of other homes around it, so do not hesitate. Your realtors might show you some of the best houses as per them, however if you ask around from the neighbourhood, you might find out that other homes are much cheaper. It could be a shortcoming of the location; maybe the area gets flooded during heavy rainfall. Your realtor will not tell you that, he will only show you the marble floors, the modern kitchen design Melbourne and Italian chandeliers. So it is your responsibility to do your own research and negotiate prices accordingly.

  • Document everything

Buying a house is no easy task as you will have to go through ample legal procedures and processes. All this will be easy if you document everything from beginning to end. If you are applying for a loan, you most probably will need your salary information, bank details, any business contracts entered into etc. so that the bank knows you have sufficient income to apply for the loan. Any realtor agreements, home valuations will be needed for property tax purposes.

  • Go beyond photos

The advertisement might look like the most beautiful home ever, however it may not be so realistically. You must also remember that many large homes aren’t photogenic so you have to see them in person to appreciate the beauty of it.

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