Shopping For Luxury Homes? 3 Little Things To Ask Your Real Estate Agent
Posted on: 5 August 2019
Whether you have saved for years or you have recently come into a little bit of money, investing in luxury real estate is a great way to strengthen your financial portfolio and improve the quality of your life. However, being willing to ask the right questions can help you to find the right property. Here are three little things you should ask your real estate agent.
1. Who Was the Original Builder?
Every builder has a different signature style and pays attention to different details, so make sure you understand who built the property, what they were going for, and how the homes they have built in the past have weathered the test of time. After you have the builder's name, check to see if they are still in business and what other clients are saying about their work. If possible, talk with other people who live in homes built by your builder to see what they say about the craftsmanship and the responsiveness of the builder. For instance, if you move into the home and notice that there are issues, would the builder be willing to come out and repair the problem?
Talk with the builder about what they can do for you, and make sure you never invest in a home where the builder has a bad reputation.
2. When Was This Home Sold Last?
Buying a home that seems to hit the market every few years is never a good sign, so make sure you check with your real estate agent to ask when the last time is that the property was sold. If possible, find out as much as you can about previous reasons the home sold, and why the home is listed at the current time. For instance, is the home for sale because the current owners want a change or because the property is too pricy for them to maintain? By asking targeted questions, you can learn what it would be like to live in the property or sell it down the road.
3. What Added Costs Should Be Expected?
Check with your real estate agent to ask if the neighborhood is governed by an HOA or if it has other costs associated with investing in the property. Additionally, check to see how much the previous owners paid for property taxes the last year so that you know what additional tasks will be added onto your monthly mortgage. When you start shopping around for luxury real estate, make sure you have an experienced agent by your side. Talk with agents about how long they have been helping people with luxury real estate, and how they can improve the experience. If you are selling, ask about their list to sell ratio, so you have a good idea of what to expect. Make sure to speak with a company that offers luxury homes for sale in order to learn more.
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