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:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.Read More