Buying your first luxury home is much like buying your first new car, but on a grander scale. There are many factors to consider in terms of money, safety, comfort, and the eventual return on your investment. This guide to buying your first luxury home should make things simpler, easier, and less stressful.
#1 – Get Pre-Qualified for a Mortgage
This step is important because it helps you narrow down your choices from the beginning. When you get pre-qualified for a mortgage, you have a dollar value in mind and you can work with that as you look at homes. This way, you can shop realistically and within your budget. You can avoid disappointment and find the home that suits not only your needs and tastes, but also your wallet.
#2 – Find a Realtor
Once you know how much you can spend, the next step involves finding a great real estate agent who can take some of the hard work out of shopping for your first luxury home. You want to find someone who has experience negotiating, who understands the ever-changing real estate industry, and who has a large enough network to have access to the best luxury homes in the Denver area.
You may be impressed by the very first house you see, but it is important to take your time and view many, many homes. This way, you can get accustomed to the variety that is available to you, and you can even take the time to appreciate various types of architecture and layouts. If you find something you truly love, though, do not hesitate too long on making an offer. Often, Denver luxury homes do not remain on the market for long.
#4 – Consider the Neighborhood
There is more to a home that just the home itself. You also need to consider the neighborhood and even the school districts if you have (or will have) children. Make sure that all of your favorites and necessities are nearby, whether this includes doctors and dentists, grocery stores, restaurants, activities, and more. You may also want to look into things such as parks and safety as well as crime rates.
#5 – Make Your Move
Making an offer on your first luxury home can certainly be scary. After all, who says that someone else will not bid a little higher than you will? This is where your real estate agent’s expertise and negotiating skills come into play. He or she will help you determine a fair price, and will even negotiate with the homeowner to help you get the house of your dreams at a price you can afford.
Buying your first luxury home seems exciting and daunting all at the same time. Remember, though: with the right real estate agent behind you and a little bit of patience, it is possible to find the Denver luxury home of your dreams at a fair price. Remember to get pre-qualified for your mortgage first so you can focus on the task at hand.