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Things to Consider When Purchasing a Luxury Home

Posted on: December 21, 2019

Things to Consider When Purchasing a Luxury Home

 

Purchasing a luxury home can be incredibly exciting yet unbelievably nerve-wracking. Especially if this is your first time in the luxury real estate market, things can quickly get overwhelming. With more money on the line, there is more to consider to ensure you’re making the best purchase. Here are a few key things to keep in mind when you’re selecting your new luxury property.

 

Consider Your Complete Finances

 

You want a clear picture of your finances before you ever get started selecting a home. Get pre-approved for a loan, then consider how much you actually want to spend. Talk with local professionals about additional costs like local taxes. Really take your time on this step and make sure you’re on the same page with your spouse or anyone else you’re purchasing the home with.

 

Look Past the Pictures

 

While a luxury real estate listing may have incredible photos, there can be more than meets the eye. If at all possible, take the time to physically go to the home and take a look around. Truly picture yourself in the space, and spend some time looking around the area, too. This will give you a better picture of the neighborhood as a whole, and you can compare your potential property to nearby homes.

 

Think About Resale Value

 

At some point, the home you purchase will find itself back on the market. Think about how the features of the home will stand up to the test of time. There might be an avant-garde feature you love, but how will future buyers feel? Would it be simple to change? Thinking about these things now will save you or your children a lot of hassle in the long run.

 

Find a Good Lawyer

 

When it comes to luxury real estate, finding a good attorney is crucial. They will be able to steer you in the right direction, interpret the complicated contracts, and generally ensure you’re getting the best value for your money. Look locally for a luxury real estate lawyer with ample experience, and ask for references from former clients.

 

If you’re considering buying a luxury home in South Florida, consider Mark Schecter. His experience as a luxury real estate lawyer has made him a trusted name in the industry, and he can handle any situation or need. Contact Mark today to learn more!