Moving up in the World: How to Find a Great Luxury Single Family Home

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If you are in the market for a luxury home, you may find fewer options on the market. This is because these homes have a higher price point, and many luxury homes that are built are done so from scratch. Therefore, what are some steps that you should take to find your dream home?

Consider What the Home Needs to Have

Your needs list will consist of what your home has to have. For instance, you may need an extra bedroom that can be used as an office space. You may also need three bedrooms because the kids will need their own space within the home. Beyond this, you might also want to prioritize ample outdoor space (think a pool, or acres of kept land) or even a forward-thinking architectural design for the structure like you might see when looking at the homes of rich and famous in Palm Springs. Whatever you want, the items on your needs list will help determine which homes you look at, and if they even exist.

Will You Opt for New Construction?

If the luxury single family homes that are currently on the market don’t fit your needs or wants for any reason, it may be a good idea to have a new home built. Your real estate agent can talk more about new construction and how much it can cost to have a home built from scratch. While the purchase price may be higher, you can get the features that you want as well as warranties on most of the home’s components. This means spending less time and money on maintenance.

Get Approved for a Loan

Prior to beginning your home search, it is critical to get preapproved for a mortgage. This will tell you how much a lender is willing to provide to help you buy a home. It can also show sellers that you are serious about buying their homes. Contractors may also ask that you have gotten preliminary mortgage approval prior to building your home.

Trust Your Real Estate Agent

Your real estate agent is someone who can help you get the most from your housing search. He or she has a wealth of knowledge about the neighborhoods that you want to live in. In addition, to knowing a lot about the homes themselves, this person may have a good understanding of the amenities an area has. For instance, your agent will know if a home is located in a quiet area or near major roadways.

If you are planning to buy a home shortly, make sure that you know what you want and need. Generally speaking, you will need to live in that home for at least three to five years to get the most value for your money.

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