Obviously, the most important part of approaching luxury real estate is ensuring that you have a detailed budget already in place. Luxury real estate sellers are far more selective about who they allow to view the home or enter into negotiations with. Often, that means that you’ll need a reference from your portfolio manager for some of the higher end properties you may be interested in viewing.
It’s also very important to ensure that you’re familiar with the laws of the region you may be moving to or away from in regard to paying cash or taking out a loan for the property. The DC Team proudly provides relocation services and can help you find real estate that fits your standards outside of the US as well as in other nearby states. We’re always free to advise you on whether or not a cash or loan investment is the best option according to the standards within the new area you’re going to. This is especially important when exploring the tax laws and the property tax you’ll have to pay as well.
Before investing in a luxury home, we recommend that you arm yourself with a good financial team that will make it far easier to follow your instincts when it comes to investing in a future property. Be sure that you have a trusted financial advisor on call, an experienced accountant you can refer to and a lawyer who is very familiar with locally property law and even taxes. This will ensure that you feel comfortable with the budget you’ve selected as well as the area you’ve selected so that you can feel free to browse homes and locations without having to worry about the particulars.