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Posted by on Dec 28, 2017 in Real Estate Insights |

Expert Tips in Buying a Luxury Home

Expert Tips in Buying a Luxury Home

From waterfront cottages to sophisticated Trump condo and the expansive luxury homes in Calabasas, a plethora of choices for up-scales residences do exists. This makes deciding which one to buy becomes more complicated. If you are considering investing in a luxury property, always remember these tips: 

  1. Searching right

Most luxury properties are not being advertised through MLS for the seller’s protection. The realtor relies primarily on his network to get the right buyer. Begin your search on the website of the local realtors in the community where you want to buy a luxury property. If their listings are devoid of luxury homes information, give them a call and discuss your intention directly with the manager. 

  1. Photos can be deceiving

Some people look better on photos, same with houses. Many houses aren’t that photogenic when you see in person. Go your way and see the house in person and do not make any decision based on photos alone. 

  1. Hire local realtor

A local agent is more familiar with the area where you want to buy. He knows which house meets your requirement. He can also drive you around to show you the neighborhood so that you can see the nearest school, hospital, convenience store, and other important buildings. 

  1. Document everything

You want your money to go where it needed to go, and you want to record all your financial transactions to avoid any problem later on. If you have an accountant or a fund manager, instruct him to document all cash out transactions. 

  1. Hire expert realtor

Work with a luxury realtor who has a proven track-record of assisting clients like you. He should know all the processes involved in buying and selling high-end properties. He needs to work with you in making important decisions such as price negotiation, getting a mortgage, conducting house inspection, and preparing legal documents. 

  1. Get a title insurance

You need to get protected from any problems that were forgotten about during the entire buying and selling process. However, check for the coverage and the exceptions of the title insurance very well before you sign it. 

  1. Look for the growth potential of theneighborhood 

You want your investment to appreciate in value over time. Ask the local government or the builder of the community if there are plans to develop the area. Make careful judgment as the development within the community is not always beneficial for a luxury real estate. Many buyers of luxury homes in Calabasas are looking for a house with a peaceful, quiet, and lush environment. 

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Posted by on Dec 23, 2017 in Real Estate Insights |

Real Estate Market

Real Estate Market

  If you will ask any financial expert where can you invest your money to receive the highest profit, he will probably say invest in real estate. As of now, the economic climate favors the real estate to grow. It means that compared to past years, it is easier to invest in real estate today with smaller capital. Here are some tips when investing in properties: 

1.Find a Lender 

If your savings is not enough, you really need to seek help from a reputable bank or credit specialists. The banks offer loans to qualified applicants. Some of these loans have easy-to-pay terms so it lessens your worries about how much and when you are going to pay them. There are cases when they will automatically deduct your loan from your salary each month. If you pay your entire balance even before your due date, some banks lessen the interest rate you were originally assigned to. 

2.Negotiate the Price 

Always remember that in real estate, the price is always negotiable. There is no fixed price. This is the reason why your negotiation skill can be put to test once you entered the real estate business. You need to consider a lot of factors when you offer a price. For example, if you found out that the property has many structural damage during the inspection, you can point this out to the seller and ask him to reduce his asking price. Also bargain if you can pay the down payment in instalment basis without interest if you really need to. It may be too much to ask but he might understand, who knows. 

3.Research on the Neighborhood 

You want your neighborhood to be safe and accessible. Go to the local police station and check the crime rate in your area. If there are crimes happening in your area every now and then, it is a red flag that you must consider. Check if the property you are eyeing at is in proximity with hospitals, schools, police station and other institutions. Try to gauge how friendly and accommodating the neighbors are. 

4.Be practical 

You want to find your “dream house”. But if the house that you desire is out of your reach, forget it for now. Maybe you don’t need that fireplace and swimming pool after all. Settle for a property that is complete with all the basic amenities and easier to pay. This will make your life less stressful knowing that you can pay your monthly mortgage conveniently. 

 

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