Things That You Should Consider Before Buying a Luxury Home in California

Luxury homeIf you are lucky enough to count on a big budget for your upcoming house hunt, choose to spare no expenses when it comes to finding the perfect luxury Californian home. But what exactly should you expect from this type of property? Naturally, you want it to be big, bright and beautiful. On top of that, you would also want it to display a few fabulous extras that could help you generate neighborhood envy.  A large indoor pool, tennis court and a golf course may be on your wish list. You can have all this and more. Nonetheless, before signing on the dotted line, you may want to pay extra attention to the following aspects.

Location Is One of the Most Important Factors That You Should Consider. Even if you may not be able to purchase a house right next to the one owned by Katy Perry or Justin Beiber, this doesn’t mean that you should think that all your other options are equally tempting. They aren’t. Your ZIP code will always influence the end value of your property. Moreover, you may be able to repaint your home, change its roof and even expand it to accommodate new family members, but you will never be able to lift it off the ground and change its location. Therefore, if you have always wanted to live in a white collar area where you could be surrounded by urban sophisticates, you may want to relocate to one of the most popular cities that basically dominate the West Coast, like San Francisco or Los Angeles.

Assess the Resale Value of the Property. Every home is unique in its own way. But the question is this: does it have what it takes to attract a large segment of future buyers? If you were to purchase it now, would you be able to resell it profitably after a few years? Try to keep a balance between what your head and your heart are telling you and don’t let the luxurious additions trick you into spending more on a property that won’t let you justify your investment in the long run. Too-large or over-specialized homes are rarely a good deal, especially when you want to buy a second home that you may want to flip after some time.

Make Sure Your Property Can Accommodate Potential Lifestyle Changes. Would you manage to make any changes related to the structure and décor of your potential new home? Could you turn a closet into a spare bedroom? Would you be able to expand your Californian house both up and out? If the luxury property of your choice doesn’t offer you the possibility to adapt to lifestyle changes, then you may be shedding a lot of cash on something that will no longer meet your needs in a few years.

Focus on an In-Depth Analysis and Count on the Best Source of Information. Accurate stats revolving around the number of properties that have already been sold in your favorite location, the number of homes that are still available on the market and the list-price-to-sale-price of all properties meeting your criteria could represent a powerful leverage during negotiations.

Don’t forget that buying a luxury home is an important step that should not be taken lightly. Limit your risks and maximize your odds of success by involving Apartment Hunterz in your house hunt. Knowledge, skills and expertise in the Californian real estate market will enable you to make a smart investment and enjoy a wonderful buying experience.

 

25
Sep 2014
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