Getting ready to buy your dream house in the vibrant coastal communities of Long Beach Island? You came to the right place.
Here, we break down eight important luxury home-buying tips:
- Work with a real estate expert who specializes in luxury properties
- Be prepared to present comprehensive records of your financial credentials
- Look past listing and promotional photos
- Research about development plans for the area where you are buying
- Learn what you are allowed to do with your property
- Invest in thorough and comprehensive inspections
- Secure standard insurance, flood insurance, and title insurance
- Buy with the property’s resale value in mind
Trust an experienced professional to guide you through every step of the buying process. Your agent will provide expert insights on property types, local community profiles, and other relevant information that you will need to make important decisions along the way.
A knowledgeable and well-connected local agent can also connect you to exclusive, off-market listings from high-profile sellers who prefer to transact privately.
Luxury property transactions are subject to meticulous reviews and evaluations because of the large sums of money involved. It pays to keep track of all your finances so that you have documents and records to prove that you are capable of paying for a high-end home.
Images that appear with property listings are meant to showcase only the best qualities of the home. Get a better and more objective perspective of the entire property – including the neighborhood where it belongs – by visiting the property firsthand.
What may seem like the perfect property today – given its location and unique features – may soon change because of future development in the area. Before falling in love with that gorgeous view from the bedroom window, research whether a planned building may eventually block it in a few years.
Look up local codes and regulations that may affect how you are allowed to use the property. Will you be allowed to access the waterfront directly across your house? Are you allowed to build additional structures on the water?
Local community or area restrictions might get in the way of the lifestyle you have in mind, so do plenty of research before making an offer.
When you buy a luxury home, make sure the entire property is worth every penny. Inspections will spare you from unplanned expenses resulting from emergency repairs.
These are especially important for waterfront homes, because these properties are constantly exposed to harsh sunlight, saltwater, and sea breezes.
Standard home insurance policies protect you from future hazards, such as injuries that occur on the property and damages caused by unforeseen events. Flood insurance adds relevant protections for homes located close to a body of water.
Title insurance protects your claim as the lawful owner of the luxury property. This will keep you from being liable against unexpected and unconventional claims of ownership, resulting from instances of invalid divorces, undisclosed heirs, or secret marriages.
The luxury house that you plan to buy is an investment. Even though selling it away is probably the last thing on your mind at this stage, consider whether the property is worth a good return in the future.
Find the modern luxury home that you’ve always dreamed of on Long Beach Island with help from trusted local Realtor Craig Stefanoni. Call 604.432.1104 or email cstefanoni@zackshore.com to get started on a productive home search today.