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6 Helpful tips in buying a luxury home

Very few things can represent success better than luxury homes. These exclusive properties are constantly in high demand, so if you’re looking to buy a luxury home in Dallas, you have to find ways to get an edge over the competition.

The unique nature of luxury homes means there are a few additional steps to consider to close the best deal. Here are six tips that can prove highly useful.

Don’t shop on photos alone

Don’t dismiss a property or decide it’s the right one based only on what you see in photos. When buying any kind of real estate, visit the home in person to get a good impression of what it’s really like. Photos don’t always give an accurate depiction of size, space, and feel. They may hide things that could serve as red flags or a special character that didn’t render well in pictures. Take advantage of tours and open houses to get a thorough feel of the place.

Ask your real estate agent about pocket listings

For various reasons, many luxury homeowners choose not to list their sale publicly. This makes these properties even more exclusive and valuable. A real estate agent who is well-versed in luxury homes will have access to these private pocket listings, either directly or through their business contacts. Including them in your search opens the door to new possibilities and a wider variety of potential homes.

Look at the home’s location

Luxury homes often come with good locations. After all, you aren’t just buying the home but everything that comes with living there, as well. So while you’re looking for a luxury house that fits your wants and needs, don’t overlook the surrounding properties and the neighborhood. Unless you’re buying an upscale condo in the middle of downtown, luxury homes are typically located in rather secluded and tranquil areas, but near enough to public conveniences.

Focus on your wants first

By their nature, luxury homes offer plenty of space and features compared to standard houses. These added luxuries are amazing but understand that everything adds to the final price. It’s not wrong to want extra comforts, but keep your priorities in check before splurging. By focusing on your needs, you can keep yourself from over spending and still get the things that attracted you to luxury homes in the first place.

Research property taxes

Before going all in on a property, make sure you can afford the property taxes that come with it. Property taxes can vary from location to location in North Texas, so looking into different areas can pay off. Keep in mind that larger properties usually come with higher taxes, too.

Don’t know what the property tax rate is? Your Realtor can provide this information and even give you tips on where you can find the lowest property tax rates.

Get an inspection before you close

Just because it’s a luxury home doesn’t mean it’s free from problems. Before signing on the dotted line, make sure to have a home inspector look at the property from top to bottom. What you find could give you stronger grounds for negotiation and give you a chance to sweeten the deal.

Learn all about the wide range of luxury homes in Dallas with our team of real estate professionals at the Wanda Charles Group. Call us at 317.674.6949 or send an email to wanda(dotted)charles(at)cbdfw(dotted)com.