Tips for Shopping for a Luxury Home in South Florida
The luxury home market is South Florida has been active in recent months, with home prices soaring in several neighborhoods as a result of a strong economy and growing incomes.
Purchasing the right luxury home presents an opportunity to acquire a premium real estate investment while also taking care of your personal needs for a home.
Working with an attorney for your closing, research on homes, negotiation, or assistance with other steps in the process makes perfect sense for an investment as substantial as a new luxury home.
A South Florida luxury residential real estate attorney at Schecter Law can help you plan your investment and navigate the opportunities in the local market (of which there are many) and successfully close on the luxury home of your dreams.
Below are some other tips to help you find the right option:
Work with an Expert in the Local Market
It can be challenging to navigate a large inventory and search new locations to find your ideal luxury home. You will want to work with a local real estate agent who knows the market well and can guide you toward some of the best home ownership opportunities. An agent or lawyer with experience in luxury home transactions can always help.
Expect a Longer Process
You can also expect the process to take significantly longer as you search for a luxury home. In many cases the home will take longer to inspect, and in general you will want to be much more thorough with your due diligence, which can add some weeks or months to the process. It is better to take your time with this type of purchase rather than rushing into it to ensure you pick the right home.
Look at the Area
Many South Florida luxury homes are located in prime neighborhoods as you would expect. Consider how the area is being developed presently and in the future. Are there any big condominium projects planned, or is there a new commercial center being developed nearby?
All of these factors will affect your home’s value in the future. On the contrary, if the area has seen a population decline or increased crime rates recently, it may be better to look elsewhere.
Contact Mark Schecter, a leading luxury residential real estate attorney in South Florida, for more assistance with finding a premier home investment here or for any questions at all. Call Schecter Law today at (954)-779-7009.