3 Things You Need to Know When Buying a Luxury Home

buying luxury real estate Cobb CountyWhether you are a first time buyer or have purchased multiple homes, buying a luxury home entails a more complicated process than lower-priced properties. To ensure you end up with a home you will enjoy for years to come, it’s important to know these tips for buying luxury real estate.

Financing Luxury Real Estate

The majority of luxury real estate buyers purchase homes with loans, as opposed to only a third who pay cash. But contrary to popular belief, cash buyers don’t always have the upper hand. Luxury buyers who offer good terms and a large down payment (think 30% of the full price) will almost certainly trump cash buyers looking to undercut the market price.

When it comes to getting a home loan approved by your bank, count on waiting longer. The approval process could take up to 60 days and requires extra documentation and verification.

Don’t Neglect Inspections

Luxury homes come with more amenities and features than lower-priced homes- but that can also mean more potential problems. From pools and home theaters to home automation and security systems, it’s important to have a thorough inspection. Some of the home’s systems could even necessitate specialized home inspections. Be patient and give the professionals time to adequately vet your potential home.

Work with a Realtor

Considering the specialized nature of luxury real estate, it is even more important to work with an experienced Realtor who knows the ins and outs of the field. Pricing of luxury homes is often tricky, so choosing an agent who is well-versed in the local luxury real estate market means you will get a better idea of what is reasonable or not. Agents who do not routinely handle luxury real estate transactions won’t be able to give you the necessary guidance.

Despite the extra steps involved in buying a luxury home, with the help of an experienced Realtor you will be thrilled with your purchase. To explore Cobb County luxury real estate and the surrounding areas, browse Marietta, Alpharetta, and Roswell homes for sale.

For more information on how to purchase a home or market your home for sale, contact me, Barry Wolfert, Associate Broker at Keller Williams Realty Consultants. As an experienced and professional Realtor within the luxury market, I can help you sell your home for the most money and in the shortest period of time. My in-depth knowledge of the real estate market throughout north Atlanta will guarantee you results, not excuses.