Reasons Why You Should Work With Real Estate Agents When Looking For Luxury Properties
Most everyday purchases you make are simple and easy, right? You pick out your items, go to the register and swipe your card. You put some things in your Amazon cart, you go to checkout, and somehow it magically arrives 2 days later even though it was just in California. Simple, stuff, yeah? You can move up the ladder of purchase complexity to things like cars and other vehicles, but eventually you get to, you guessed it, real estate.
Searching for a new home is a stressful enough activity as it is, and the stress can rise in unison with the price as well. Many novice real estate investors and homeowners alike tend to assume that purchasing, or even selling, a home is as straightforward as buying a car or some milk. This is often done mistakenly so, and although someone with experience in real estate transactions may handle it with ease, for most clients...it’s just not their cup of tea when it comes down to it.
The case is no different when it comes to purchasing luxury homes specifically. In fact, it’s likely to be even more emphasized in this case. The legal documentation, negotiating, fees, access to the MLS, familiarity with the inspection process, knowledge of red flags, and even just knowing potential sellers or buyers in the industry can go a long way in making the process smooth. If you’re in the Vancouver area and looking for a property, utilising a real estate agent like Ron Parpara is a great starting point to buying a luxury home.
Reasons To Work With A Real Estate Agent
Help You Understand Cost and Paperwork
Buying a luxury property is different from your typical home in several respects, the first and most important obviously being price. A luxury home is that which, by definition, is valued within the top 10% of local property valuations within your area. Because of this price increase, you’re dealing with increased fees for everything. You’ll likely need to consider paying for an appraisal yourself if the owner assumes any prospective buyers are affluent enough to do so, and it may even be a second home to someone not living on the property. If this is the case you’ll want a quality agent to guide you through this process.
Another aspect of an increased listing price is an increase in taxes, document fees, lawyer fees, agency cut, and ultimately closing costs as a whole. A good real estate agent by your side can help work through all of this complex paperwork with you while breaking down the costs and likely saving you a few dollars along the way.
2. Help You Through Unexpected Hidden Problems
The bigger the home, the more area to inspect. The more area to inspect, the more potential problems to be found. This case is especially important when purchasing older luxury homes. Homes may have outdated finishes and visible aesthetics sure, but what’s most important is what you can’t see. Your home may be out of compliance with local codes as well depending on who installed what, where, and when the last inspection was done.
Because of this, an untold amount of complications can arise that stall the buying process for you, and may even devalue the home as well. Your agent though, will be familiar with these situations and know in what order to prioritize things, as well as pursue any reasonable price differences that may need to be accounted for as a result of any work needing to be done.
Helps You Save Time
And let’s not forget, if you’re buying a luxury home, it may be safe to assume you’re not someone with time on your hands. You’re buying luxury for a reason, and you’ve got places to be besides the negotiation table or talking with contractors. Working with a real estate agent can help save you time as they’ll do most of the leg work for you. This is especially good for those who are running a business or who are out of town for lengthy periods of time.
Conclusion
All in all, preparing your search process with a properly equipped real estate agent from a reputable agency can bolster your chances of striking a great deal on a luxury home you can love for years. When making an investment this big, would you really want to take any more extra risk that could be easily dissolved? No, not really so why risk it? Are you ready to buy your next luxury property?
