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Top Tips When Buying a Luxury Home | Part 1

Buying a luxury home in Las Vegas is no small thing.

You don’t just want to buy any premium property, though. The difference between a house and a ‘home’ is enormous. Whilst a house serves the A to Z of your needs, it may not necessarily be the most appropriate home for you and your family.

For example - you must consider size, function, local amenities and other factors that transform how you interact with your home and its surroundings.

Buying a Las Vegas luxury home can be an exhilarating experience. The architecture and style, the setting and climate, are just some of the exciting features that wow every buyer.

Aspiring buyers must, then, take every precaution to ensure that the decision they make is the right and proper one.
With these three tips to hand, that process has just gotten that much easier!
 

Tip #1 - Finding the Right Agent


We cannot underestimate the value of an experienced real estate estate in the local property market.

It’s not enough to find any real estate agent, though.

For example - you may well find a quality real estate agent in the mid-to-high range of properties, but who has not demonstrated that they are competent in the luxury real estate market.

The right real estate agent is the one with a proven track record. They can prove to you, courtesy of past reviews and current success, of the value that they can bring to the table.

The right real estate agent doesn’t put you into a corner, narrowing your available options. Instead, they work with and alongside you to ensure that you have all available options. Quality real estate agents not only understand the market down to the smallest detail, but they are also aware of properties that are currently on-sale but are not yet listed to the public. This can be an enormous advantage.

Don’t forget to do your research.

Real estate agents selling luxury homes for sale in Las Vegas are almost certain to have their own website - detailing who they are, what they do, how long they’ve built their success and what value they can bring to your personal circumstances. If they don’t have a business website, it may be time to move on.

Outstanding real estate agents also appreciate the value of keeping your personal details, finances and data confidential.

In this regard, finding the right real estate agent for you can make all the difference!
 

Tip #2 - Getting Finances in Order


Buying a Las Vegas luxury home is no small thing. Costs are substantial and, for that reason, you ought to consider the financial path you may be expected to take.

Some sellers are pickier than others.

For example - many sellers may not even permit viewings until they have received documentary evidence that you can afford to purchase their home. You may be required to receive pre-approval from your bank, or, alternatively, to receive a reference letter from your portfolio manager.

Still further financial verification is needed on purchase. It’s important for the seller to know that you have the necessary funds. A bank statement is one such document. Don’t forget to redact both your address and bank account number.

It may also be necessary, depending on your personal circumstances, to consult a tax professional before, during and after the sale. An experienced property attorney can, too, add the value you need.

It’s essential that you have your paperwork organized and ready for action. As the maxim says, failure to prepare is almost guaranteed to deliver failure.
 

Tip #3 - Know Your Expectations


One of the tip tips when buying a luxury home is to know what you want.

This probably sounds obvious, right?

But many budding homeowners often struggle to define what they really want. However, the more you don’t know what you want, the more likely you are to make the wrong decision and purchase the wrong home.

It’s essential that you sit down and ask yourself some specific, defined questions:
 
  • What are the essential features I want in my luxury home?
  • How will the home impact the needs of my family / future family size?
  • Is the property affordable?
  • Is the property worth added expense if it exceeds my defined needs?
  • What features am I willing to compromise on?
  • How important are local amenities; schools etc. to my next purchase?

By strictly defining what it is you both want and do not want, you narrow your search and make life easier for your real estate agent.

Your real estate agent can then provide you with an accurate selection of what best suits your needs, and within the budget you have set out.

Our top tips when buying a luxury home don’t stop here! Check back to our luxury real estate blog soon for part II - reviewing even more factors to consider, making your next home purchase in Las Vegas that much easier!