8 tips from the experts when buying a luxury house
Property is a great investment, and we all dream of owning our own dream home where we can live in comfort, surrounded by the things we love. But how do you know that the luxury house you are looking at is the right choice for you? Will it be the investment you are hoping for? Will it live up to all your expectations of the perfect home? Or will it turn out to be a damp squib?
There is no magical answer to which luxury house will be the perfect fit for you. Every buyer has different goals, expectations, and requirements. However, you can always take some guidance from the experts. Here are some tips to help you find the ideal luxury house:
1. Set a budget
Decide how much you are willing to spend and stick to this. Sure, you may be able to afford something more expensive, but setting a budget helps you to prepare for the transaction, and it helps you to narrow your search. It also helps you to avoid temptations that do not match your current plans. If you do happen to find a luxury house that ticks all the boxes but falls outside your set budget, you can always adjust it if you feel convinced.
2. Be clear about what your intentions with the property are
The home that you would like to live in is not necessarily the same as the one that would make the most financial sense to buy if you were looking for an investment property. Know the reasons why you are in the market, identify the features you are looking for that are needed to meet those particular goals, and make sure you do not make decisions based on the wrong considerations.
3. Do not rush it
Take your time. This is a big decision and you want to make sure you have considered all the possibilities. Do not let yourself be forced into a purchase that you are not completely comfortable with. Even if that means you miss out on a sale, there will always be more options waiting around the corner.
4. Choose the location carefully
Whether you are looking for a luxury house for yourself to live in or as an investment, chances are that both you and future buyers will find similar features attractive. This can include easy access to highways and transport nodes, great shopping destinations, schools, hospitals, and restaurants.
5. Familiarise yourself with the area
Do not only inspect the area on a map or judge the property by its pictures. Visit the area to get a feel for the neighbourhood, to see the views (including any potential eyesores), and to get an idea of the ambient noise in the area that might impact your living experience.
6. Research planned future developments for the area
Sure, things look great now, but what if there is a massive apartment block planned right behind the luxury house you have in mind? Ask around and see if you can identify any potential future developments in the area that might change how you feel about the property.
7. Be aware of any potential construction or renovation restrictions
Some older homes are protected by conservation laws, and some gated communities have strict regulations regarding what is allowed in terms of expansion and renovations. Make sure you are aware of any potential restrictions, and that this does not derail your plans with the property.
8. Partner with a respected estate agent
You need a partner that knows the area in which you are looking, and who has experience in dealing with the sale of a luxury house. Fine & Country South Africa is a leading estate agent that deals with high-end properties and our agents have extensive knowledge of the top local neighbourhoods. Get in touch with us right now to start looking for your ideal property.