5 Things to Avoid When Shopping for Luxury Home

What to avoid when shopping for a luxury home:

Buying a luxury home is an exciting time and can be a little stressful. Working with the right real estate agent will help you smoothly navigate this luxury home buying process.

In your excitement, it can be very easy to jump ahead of yourself and make a mistake. Here are four things to avoid when shopping for a luxury home.

Overlooking extra fees.  You’ve looked at your finances, but remember there is a lot more to consider than just the listing price. Remember to calculate into your budget: closing costs, down payment, possible attorney fees, transfer taxes etc. Read more tips from HGTV.

Skipping the home inspection.  A home may be listed on the luxury market, but remember every home has its quirks. Don’t overlook this important step in the buying process. Know what needs to be fixed or updated before you commit to buying the home.

Making a major purchase right before you close. When purchasing a home loan, your credit will be pulled one last time a few days prior to your closing date. If you make any major purchases, this could impact your credit score and could result in your loan not being approved at the amount you originally agreed upon.

Letting your emotions or first impression be the deciding factor.  You may drive up and think, “this is the one.”  And, you may be correct. But, don’t let your emotional connection rush you into a decision.  This is where having a trustworthy real estate agent is important.

You want to have someone who is trying to help you not only find a house, but help you find your dream home.  You may love how it looks, but dig a little deeper to ensure you’re making the wisest choice. Ask yourself these questions:

  • Do you like the neighborhood?
  • What’s the future development of the area look like?
  • Does it have the desired amount of land you are looking for?
  • Are your desired features included or are they a simple addition once you’ve bought the home?
  • Why do you have an emotional connection to the home? Is it clouding your judgement?

By avoiding some of these blunders you’ll be able to find the right luxury home for you and your family. Leslie Heath, as a Certified Luxury Home Marketing Specialist is here to help you as you begin your search!