Two Luxury-Home Buying Secrets

Posted on: 6 January 2017

If you have the means, buying a luxury home can be a great investment. Not only do these homes tend to be located in the best places, but many have remarkable features not normally found in ordinary homes, such as in-law and staff suites, pool houses, and unique architectural elements. However, purchasing a luxury home isn't as easy as picking something out on a real-estate website. Here are two secrets to buying a luxury home to help you find the house of your dreams.

Most Luxury Homes Aren't Listed

Possibly the one thing most people don't know about luxury homes is that the vast majority of them aren't listed. The reason behind this is simple: privacy. When a home is listed on the market, a lot of information about the house (e.g., the seller's name and the home's listing price) is made public.

Many people who own luxury homes would rather the general public didn't know their business, and so these homes typically use pocket or off-market listings. A pocket listing is one where only the seller's agent knows the home is for sale while an off-market listing is one where agents know the owners want to sell but the house hasn't officially been placed on the market.

Therefore, the best way to get the lead on some really great luxury homes is to hire a real-estate agent who has deep connections in the industry and community. A well-connected agent will typically hear of unlisted homes or have pocket listings you can choose from. In addition to having access to a better selection with this approach, you'll generally won't have to deal with as much competition, so you're more likely to get your offer accepted.

Luxury Homes Don't Always Photograph Well

If you look at luxury-home listings online and decide to bypass some homes because of the pictures, you may be missing out on your dream home. Due to their size and other issues, luxury homes aren't always the most photogenic. It can be difficult to adequately capture the home's best features. For instance, it may be hard to get a good picture of the great view from the master bedroom, or upload limitations may prevent the real-estate agent from posting photos of all of the many rooms in the house.

It's always best to tour the home in person before striking it off your list. You'll get a greater sense of what the house offers and whether or not it meets your needs and preferences.

For more information about buying a luxury home, contact a real-estate agent.