Buying a piece of luxury real estate might excite you, but don't let the enthusiasm of getting a swanky address stop you from inspecting each estate before you actually buy it. Here are some pointers for first-time real estate buyers of plush homes in Calgary:
Learn How to Find More Luxury Homes
If you want to buy into the luxury real estate in Calgary market, realize that the way you're doing it now is perhaps not the only or the best way. There are bound to be better and more focused ways of locating more of such properties. After all, owners of such properties don't list or advertise them if only to protect their privacy. However, you can come to know about them through a realtor's personal contacts.
Don't Decide Based On Elevation Photos
Give all properties you come to know of a second chance, instead of discarding them based on their elevation photos. Like many of us, homes in the Calgary luxury real estate segment too aren't always photogenic and need to be seen right upfront before turning them down. You can also check them out on Google Earth to see what's in the neighbourhood.
Is Your Agent A Local? Then, Go Ahead With Him
It's imperative for you to have a real estate agent that belongs to Calgary so that he knows the market well and can advise you accordingly. Also, he may know certain owners of properties that are on sale, so getting to see such estates and meeting their owners won't be difficult for him.
Is Your Financial Documentation In Place? Check Once More
The luxury market calls for more scrutiny of financial documentation than any other. The kind of money, which luxury homes sell at demand that all documentation be absolutely correct, so more scrutiny is required.
Hire Reliable and Trustworthy Advisers
Ensure that your advisers make valuable suggestions rather than take decisions for you. Listen to what your realtor and financial planner say and if they don't agree with the decision you take, meet and discuss it.
Ask For Title Insurance
By asking for title insurance, you can be insured against any untoward problems both parties forgot about. Take a close look at the exceptions page of the title insurance course before you close on the deal.
Find Out the Kind of Structures Planned For Your Neighbourhood
Before signing on the dotted line, find out whom your future neighbours are likely to be? Is it a skyscraper, luxury hotel or something else that you might not want within arm's length?
Ask Your Agent to Check out the Property's Unique Features
The features of the luxury real estate in Calgary you're vetting may have some unique features for which the owner may charge a particularly high price. Before you make an offer, check out the market for properties with similar features and the prices for which they were sold so you get an idea whether your price is fair or not.
Buying into the luxury real estate in Calgary market is not easy. But by doing a good amount of homework, you can make good progress soon and find the right property for yourself.