Shopping for a luxury home? You need a professional

The decision to buy a luxury home could be very daunting particularly if you are embarking on it for the first time. Homeownership requires some work and the best place to start will be to find a ‘genuine’ qualified realtor. There are many people claiming to be one these days, hence you have to be careful whom you are dealing with. In view of the extra amount you are going to pay for the house, taking a little time to get a professional agent will pay you more in the long term.

The Association of Estate Agents in Nigeria (AEAN) website can help you with the best agents in the country. Their fees may be high than usual; it’s best you plan for that too.

The fact is agents who understand the luxury market will likely have great contacts and the requisite experience to effectively evaluate local property values.

Once you have your agent, what next?

Most agents will usually come armed with photos of the homes they are selling. Page by page of beautiful houses that will leave you even more confused. Some of the houses you may be shown are not listed in order to protect the owner’s privacy. The reason you are seeing them is because the agent has a personal connection to the seller. This is why depending on Internet pictures may not be enough or bring you the best bargain.

To avoid the confusion, go beyond the photos. Do a search of the property and vicinity, so you can see what’s around the home. Luxury homes are more than just a place for shelter with bedrooms and bathrooms. Far from that, they reflect a sense of refinement that mirrors the direction you want your life to go.

Go through the local laws for owning a luxury home or for large transaction with your agent. It is better you are aware of the state’s requirements and not be taken unawares.

Where the home is located is also important. It is awkward to go for a luxury home in an unsecured and notorious for crime neighborhood. On the other hand, a home in an isolated location may also pose security issues. Check out what the general security of the area is. Go for homes with good architectural uniqueness. Paint a picture of how you want the house to be seen in a few decades. Homes with good foundation, solid unusual details, high-grade materials and an artistic component have a potential to retain their value.

Make it a point to check the home’s energy efficiency, ventilation, structural integrity, and foundation. Do remember that it is your investment; you have an opportunity for resale. Be far more on the defense than offence when looking at luxury homes.

Keep your emotions in check and put your priorities in focus. Do not get carried away by the sheer opulence or grandiose that you fail in your due diligence responsibility.  You can write down the lists of amenities you expect to find; it will help ease up the process and eliminate confusion.

The fact that you are buying a luxury home should not mean you ignore prudence in your decision. Be as frugal as possible, but keep in mind you may not be the only buyer. Study the financing options available. Don’t settle for the first deal. Shop around for the best deals. If you are taking a mortgage, ensure you go through the best options for financing available with your mortgage lender.

Be patient and do your homework. You don’t want to rush your decisions and regret it later. Missing a home buying opportunity should not make you fret. Be confident in what you want and how you want it.