After significant consideration, you have decided to invest in your dream luxury home in Burlingame. Whether you want to get a holiday home or your primary residence, you cannot afford to take chances. Luxury real estate is an entirely different sphere, and you have to look beyond the obvious things. Here is an essential guide for your help.
Choose the right real estate agent.
It would help if you had a Burlingame realtor who understands the local market and has worked with both upscale buyers and sellers. Check some of their recent sales and consider the range of properties and homes they deal with on a regular basis. You can also compare local real estate agents based on reviews and ratings.
Get ready for a longer cycle
Buying a luxury home means higher financial stakes, and you don’t want to make a decision by seeing five properties. You need time to evaluate every aspect of a shortlisted home, from the location to structural elements, appliances, interior work, and other amenities. Remember, sellers will do their bit to stage the house and ensure all aspects look great in pictures. Whatever investments they make, they would want to recover that from the same price, which means you have to be good at negotiation. The sales cycle can take time, and you should be ready for the long game.
Consider the neighborhoods
Not all neighborhoods in Burlingame are the same. You have to travel and check whether a particular neighborhood matches your needs and lifestyle and if you like the community. Even if this is not going to be your primary address, the research is still critical.
Look at the finances
You will need to work with your bank and ensure you are competent enough for sellers. If you intend to buy the house for cash, sellers may demand to see your bank statement. Your bank probably has the information, and you can make sure you look like a legit buyer.
Always go for on-site visits
Sellers often spend thousands of dollars on getting pictures of their luxury real estate properties, and expectedly, these homes look splendid on websites and listings. However, there is no substitute for an on-site visit. You have to go in person and check whether a property that looks great in pictures will eventually meet your requirements. Also, you just cannot step in to see some of the luxury properties. Your agent will ensure you have an appointment and can see the selected home at your convenience.
Consider a home inspection later
You cannot invest your hard-earned money in a luxury home in Burlingame without an inspection. Many sellers quote their prices based on the independent inspections, but you have the right to get that done for the deal. Ask your agent whether they know home inspectors and enlist the services of a certified and experienced person. They will check whether the property’s structural integrity, indoor elements, HVAC systems, appliances, and plumbing & electronic components are in good shape. Once you are armed with the home inspection report, you are in a better place to negotiate.
Go around
Ask your real estate agent to help sort properties and make a list based on your preferences. Ensure you have the option to see such luxury homes in Burlingame on weekends when you are likely to have more time. It can take multiple visits before you choose a property, and your agent will be your biggest support & advocate as you navigate the sales process.
Finally, ensure you are aware of the agent’s commission and all other related expenses related to the sale. The final price could be higher than what you expected, and it is better to be prepared.
