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If You’re Buying Luxury Real Estate, You Need to Know These 7 Things

If You’re Buying Luxury Real Estate, You Need to Know These 7 Things

  • Claire O'Connor

Buying luxury Pacific Palisades, Brentwood, or Santa Monica real estate is an exciting and challenging quest. When purchasing a luxury estate, you invest a lot of your savings and take out a large mortgage. This monumental investment requires plenty of homework and know-how to ensure you’re buying the ideal property for you and your loved ones. If you’re a bit lost when facing this endeavor, fear not. This article will go over various tips and factors to consider when buying a luxury property. 

What makes a home luxurious?

Luxury homes possess an air of extravagance you cannot find in a typical residence — they go far beyond a large primary bedroom and an open floor plan. Premium amenities, privacy, high-end appliances, finishes and materials, location, and a high price point for the neighborhood are just a few characteristics of a luxury home. A luxury property makes you feel as if you’re on vacation every day; it’s a sanctuary providing comfort and ease. 

The luxury home market is exclusive

People typically start their home search by checking the MLS, but luxury homes are a different breed. You won’t see all of the available choices on the multiple listing service, as luxury homes are marketed through other channels and frequently by word of mouth. People selling luxury estates may avoid posting to the MLS to keep an influx of unqualified buyers from inquiring about the property. The world of luxury real estate is more exclusive and exists within a smaller network of well-connected professionals. Your real estate agent will give you access to these private listings so that you don’t spend hours scrolling through undesirable homes that don’t meet your high standards.

You need a reliable real estate agent

Before delving into the search and buying process, finding an exceptional real estate agent to work with is critical. After all, not all agents work within the same market, with each professional boasting their own specialties and extensive regional knowledge. Working with an agent who lives in the neighborhood or has a proven track record selling homes there is crucial to finding the perfect home. An excellent agent has made plenty of home sales and purchases, boasts many client testimonials, and has a thorough understanding of the community in question. 

Put your trust in Claire O’Connor when seeking Pacific Palisades real estate or homes in surrounding Westside neighborhoods. Claire has helped many clients find the luxury West LA home of their dreams. She is familiar with the area and will be able to use her resources and industry connections to find you the premium luxury property you deserve.

Be prepared with your wishlist

The house you choose should meet your expectations. You must consult with your family about what your home must possess. If the property fails to meet those needs, you’ll regret purchasing the property or even end up paying for amenities no one uses. You and your family know what’s best. Do you have children and need to live close to outstanding schools? Do you wish to live near the center of the action in a bustling city? List every little detail that appeals to you and your lavish lifestyle. Once you’ve compiled a wishlist, share the information with your real estate agent so they can help you find homes that align with your requirements. With plenty of research, review, and excellent financials, you can find a beautiful home to call your own. Work closely with your agent to ensure you find the perfect residence. 

Get to know the community

Browsing houses for sale in Santa Monica by driving around can give you a feel for the local color, but truly getting to know the neighborhood requires a bit of investigation. Various neighborhoods offer different cultures, vibes, and amenities that define them as luxurious. Research whether the community has any development plans to help you narrow down your top choices. After all, it would be a shame if some towering new building would block your picturesque ocean view from your beachfront Pacific Palisades real estate.

Don’t judge a book by its cover

Modern-day house hunters scroll through countless listings online. Checking out various listings via their photos can be helpful when figuring out what you need in a property. However, it’s important not to depend on images alone when deciding if you want to make an offer. Sometimes a listing doesn’t have the best professional-grade photos to represent the property honestly. Sometimes it is difficult to capture the beauty of a luxury home because it is so large that you must see it in person to truly appreciate it. Photos are helpful, but it's best to visit a property in person before deciding to move on to the next listing. 

Don’t skimp on the home inspection

Much like finding a fantastic real estate agent to help you find a property, you’ll want to find an excellent home inspector. The home you’ve set your eyes on is not your typical property. Luxury homes usually have specialized amenities and features that a regular home inspection simply will not cover. Everything from home theaters to smart tech features, outdoor living spaces, and wine cellars are just a few of the extravagant features a luxury home can possess. Your agent can help you find a specialized home inspector with a pristine record and mindfulness to keep the inspection hush-hush. Additionally, you want the inspector to take a good hard look at everything to ensure nothing is missed, no repairs are needed, and there will be no unpleasant surprises when it comes to closing time. 

Ready to find your luxury home?

Purchasing a luxury home is one of the biggest and most life-changing decisions you can make. Our homes provide us with security, joy, control, privacy, and, most importantly, a personalized place where we make lasting memories. If you’re looking to find the luxury Santa Monica home of your dreams, contact Claire O’Connor today.

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With ten years of professional experience, we have mastered the art of negotiation through dealings with high-level bureaucrats and diplomats regarding US foreign investments. We bring that required tenacity to real estate negotiations on behalf of our clients.

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