Buying a house is exciting, but it’s hardly a walk in the park – especially if it’s a luxury property you’re interested in. A high-end home is a major investment and you’ll need to consider other factors apart from the usual ones. When looking for Cleveland luxury homes, take note of these tips:
Don’t just rely on the MLS
The multiple listing service (MLS) is often the go-to resource for people looking to buy a home. That said, there are some high-value properties are not publicly listed to protect the seller’s privacy. If you can’t see all the available options, how can you pick the best home from the lot? Work with a local luxury real estate agent to gain access to both listed and unlisted houses.
See for yourself
If you’re like most people, you probably started the buying process by looking at pictures of properties online. A word to the wise, though: don’t judge a home by its photos, and especially not a luxury home. Sellers will naturally take photos from flattering angles to make their house more attractive. On the flip side, some photos simply can’t do justice to a home’s beauty. As such, always visit your shortlisted houses in person to see if they truly meet your expectations.
A high price doesn’t always mean luxury
Even in the luxury market, there’s room for comparison shopping. By looking around, you can get a real sense of what you can get for your money. A multimillion-dollar property might look like the perfect choice, but you might be able to get a bigger, better home for the same price in another community. Or you may pay a hefty sum for a house that only has the bare minimum of amenities. To avoid buyer’s remorse, ask your agent to furnish you with a list of comparable properties in the area and their market value.
Choose your features
Luxury home amenities run the gamut from relaxing (infinity pools), to lavish (putting greens), to outrageous (a private airstrip). When looking at properties, decide what amenities truly fit your lifestyle. Remember, every amenity adds to the total selling price of the house. Sure, a humidor would be nice to have, but only if you really care about cigars!
What are the future development plans?
This bit is especially important if you’re buying a property in a condominium building, gated community, or a medium to high-density neighborhood. For instance, you may enjoy a great skyline view from your condo, but what if there are plans for another tower that will end up blocking that view? If the town or city plans to build a major highway near your house, this might translate to more congested traffic and unwanted noise.
Ask your prospective neighbors
Of course, real estate developers and sellers will gush about the property’s merits. But to gauge whether a community is right for you or not, talk to the people already living there. They will give you a clearer picture of the lifestyle in that neighborhood, including the pros and cons.
Given the cost of a luxury home, it really pays to carefully evaluate your options. If you need expert guidance, don’t hesitate to get in touch with Cici Riley. Just give her a call at 216.410.3114 or e-mail her at ciciriley(at)howardhanna(dotted)com.