Luxury Home

What to Consider when Buying a Luxury Home

Luxury living spaces aren’t something that happen by accident. The homeowners, builders and architects who are part of that project go out of their way to ensure that these homes are rendered in a very special manner & that it has all the elements which can categorise it as a luxury home. It’s always a mix of various factors that give a home its “luxury” tag. And so, when you are buying such a home, there are certain things to consider when buying a luxury home:

The Search Process

It’s not uncommon to find that a number of luxury homes remain unlisted; this is typically done to protect the privacy of the seller. In many cases, these properties can be found via the personal connections of the realtor rather than just looking online for them. Having said that, there are a number of real estate agents who exclusively deal in luxury properties and those are the ones you should be connecting with.

Look Beyond the Photos

It’s natural that you will look at different online sources when you are looking for a luxury home. But this is not the best way of zeroing-in on the right property. Just as some “not-so-glamorous” properties may look stunning in photos, there are also a number of large luxury properties that may not be very photogenic; and the front elevation photos you see online may not do justice to their real grandeur. Therefore it’s best to look at properties in person to appreciate their special features.

Local Realtor

It’s important that you work with a well-established and vetted local real estate agent who knows the area well. As mentioned earlier, in most instances, upscale properties may not be found on local listings; there will also be fewer open houses and you may have to make appointments to see them. Having a good realtor helping you with all these aspects is one way of getting to see the kind of luxury homes you really want.

Inspecting Unique Amenities

When you are inspecting a standard home, there are some basic things to look for – is the structure sound; is the roofing in a good condition; are there any signs of rot or mould? But inspection of luxury properties is a different ball game altogether. This is because they have a host of amenities such as spas and pools, heated floors, lawn irrigation and elaborate water features etc.

This is why you will need a specialist who has knowledge in this field, to assess the property and may have to hire the services of a home inspector who specializes in this field, to help you in this respect.

Special Features

When you are buying a property, you are bound to look at aspects such as the number of bedrooms and bathrooms or even the expanse of the outdoor areas. However, when it comes to luxury homes, there are a number of other architectural features & amenities you may want to take into consideration:

  • Instead of looking at square-footage, take the cubic-footage into consideration- look for tall ceilings and a design that is unique, with double paned windows and other special features
  • Opt for a home with an open floor plan
  • Many luxury homes are now built on eco-friendly design
  • See how much technology the home has- remote controlled lighting, security, blinds and shades, and music etc
  • Check if the property has a home gym and recreation/game room
  • Some luxury homes also have tennis courts or mini golf greens
  • Opulent living is a lot about having magnificent kitchens. Today, many luxury homes boast commercial-grade kitchens that have walk-in pantries, wine fridges & warming drawers
  • Spa-like bathrooms and large technology-fitted walk-in showers are the latest trend
  • Superlative, smart storage spaces are a must
  • Many other features

The Smart Buying Decision

Apart from all these things, make sure that you are looking at a luxury home in an upscale neighbourhood. It’s true that this is where most luxury properties will be, but the locality you choose will matter a great deal when it comes to the resale value of the home. Conduct a certain amount of research, identify a good and credible real estate agent, check all the features of the home and then make your final buying decision.

Thanks for reading,
David Miniter
0414 998 727

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