If you've ever purchased or sold a luxury home, you know just how highly coveted it is. While most people often dream about these homes with fine amenities and sizable square footage, only a fortunate few can afford them.
Luxury is not defined as one thing, and it’s somewhat subjective. For many, luxury would mean a high-rise apartment in the city where they are close to entertainment, shopping, and dining. For others, it's a grand mansion on the West Coast with expansive views of the Pacific Ocean.
Whatever luxury means to you, purchasing such grand real estate could be daunting and take a great deal of time and effort. But if you're willing to work for your beautiful oasis, you'll find it's worth the process. To help ensure a smooth home-buying process, we outlined a few things you might not know about buying Fayetteville, North Carolina, luxury real estate.
What makes a property "luxury"?
There are specific qualifications that all luxury homes have in common, which help determine whether it's truly a luxury property worthy of the hefty price tag. Key features consistent with all luxury properties are location, size, unique architectural elements, and construction quality.
Location is a crucial factor in all real estate forms, but it makes a big difference in luxury real estate. The grandest of homes, equipped with cutting-edge amenities and features, might lose its luxury tag if it’s in a less-than-ideal area that is near a highway or landfill, for example. It's essential to consider the neighborhood and its surrounding area when looking for luxury real estate because you want to ensure that your property will retain its value over time.
The price tag of a home is also a clear indication that it’s considered luxurious. Prestigious neighborhoods and locations nearest the hip part of town with enviable views will have more significant price tags. The amenities and features inside and out, whether it be the best appliances, quartz countertops, a saltwater pool, or a four-car garage, will also indicate luxury. The same can be applied to the size of the home. A large home paired with unique architectural features appears grand and luxurious.
Another feature to consider is the history behind the property. For example, the home might have historical significance or was previously owned by a celebrity. Homes used to film a movie or designed by a well-known architect will drive the value of the home and the luxury title.
The value of a luxury real estate agent
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The key to any successful home-buying experience is an expert realtor. In your quest to find Fayetteville, North Carolina, luxury homes for sale, you want someone who thoroughly understands the market. Find an agent who specializes in luxury real estate and networks with other luxury realtors to create connections that will benefit you. A highly experienced agent can inform you of properties that are truly luxurious and which homes are deceptively luxurious. Further, you can be confident they will ensure a smooth and successful real estate transaction.
There are plenty of real estate companies, so taking your time to find the right agent is essential. Interview various potential realtors and find the one that will work agreeably with you. An agent specializing in luxury homes with a proven track record of success is your best bet. There are several ways to find an agent:
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Ask family and friends for referrals to agents in the area.
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Look online at realtor sites and read the reviews.
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Meet with the agent to determine how well you might work together and get a first-hand impression of whether they will have your best interest at heart.
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Ask plenty of questions. And if they don’t have an answer, they should have a network of appraisers, attorneys, real estate brokers, and title companies at their disposal to answer those questions and help you on the journey.
View luxury homes in person
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Sellers strive to do whatever they can to ensure their house looks impressive and beautiful to attract potential buyers. Professional photographers, as well as professional home stagers, are often hired to showcase the home in the best possible way. This process often means using space and natural lighting to ensure the home appears picture-perfect, which can sometimes be misleading, especially when you’re viewing the home online.
You'll always want to make sure you view the home in person, sometimes more than once, to inspect all the living spaces thoroughly. Those shiny appliances could have been polished for the photos but need to be replaced. Alternatively, it's not always that a seller is trying to be deceptive, but it may be difficult to truly capture the space or luxuriousness of a home in photographs. Touring a home is the best way to get a genuine feel for the area and features of the house.
Be prepared to negotiate
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Luxury real estate is not significantly different from a typical real estate transaction, though negotiations happen more often. Just because a home is considered luxury doesn't mean there aren't things that need to be fixed. Or perhaps the seller is asking a price that’s higher than you're willing to spend. Because this is likely your dream home, and you'll be investing a significant amount of money, you want to be completely satisfied with the purchase. Don’t shy away from negotiation, and work with your realtor on how to best proceed..
If you’re ready to start searching for Fayetteville, NC, luxury homes for sale, contact Lisa Rivera.
*Header photo courtesy of Shutterstock
*Header photo courtesy of Shutterstock
