Little-Known Secrets to Buying a Luxury Home

Buying a home is an involved process, regardless of your price point. However, the luxury market comes with a different set of conditions. From working with a specialized real estate broker, less available inventory and a more discerning list of requirements, investing in a luxury property can be more involved than purchasing a mid-level home. Here are some of the little-known secrets of the luxury home buying process. Work With a Luxury BrokerWorking with a well-versed broker in the luxury market is key to ensuring a smooth home searching and buying process. A luxury broker will be familiar with the areas in which you’re looking, will be up to speed on the latest trends, will be able to identify potential issues in properties you view and will know if a property is worth its listing price. Additionally, a luxury broker will have access to homes that might not be listed publicly or on the MLS. Many luxury listings are private to protect the seller’s privacy, so only luxury brokers within the inner circle are privy to these listings. Have a Knowledgeable Team in PlaceIn addition to working with a broker who specializes in the luxury market, making sure your financial advisor is involved in your purchase decision will ensure you’re making an intelligent investment. Taking it a step further and arranging a meeting between your broker and financial advisor will safeguard your purchase. Exercise PatiencePatience is the name of the game when buying luxury real estate. Because of limited inventory, the time it takes to conduct research and a discerning list of must-have features, it can take longer to find the property that is a perfect match for your specifications. Know the NeighborhoodFamiliarizing yourself with the neighborhood and its future plans is an important part of the luxury home buying process. From the school district to the area’s downtown amenities to recreational opportunities, the neighborhood can be just as important as the home. Additionally, suppose you are buying a property for its views. In that case, it’s important to understand any plans for the area and any possibilities of new construction that could impact any waterfront, golf course or sunset views. Don’t Discount Properties Based on PhotosBased on the photos, if you don’t fall in love with a property, it’s still worth an in-person visit to see the home. For example, a house may require interior updates but have one in a million waterfront views. If you discount the house based on the listing photos, you will miss out on your opportunity to own a property with those views. Have Proof of FundsBeing able to prove you have the funds to purchase a luxury property can be more involved than if you’re buying a mid-level home. Therefore, it’s important you have the documentation to prove you have the funds before making an offer. You may even need this documentation before you view the property.

Smart Home Gadgets That Will Elevate Your Home

Technology seems to mutate with the speed of light, but is your home keeping up with the changes? Smarten it up with a few smart-home electronics that will boost safety, increase comfort and may even save you a few bucks: Video DoorbellThe VTech Video Doorbell, about $115, lets you screen and even video chat with visitors before you answer the door. And the system takes a snapshot each time the doorbell is pressed, so you’ll always know who came a-knocking while you were away. Smart Door LockThe August Smart Lock uses keyless technology to keep your home safe no matter where you are. From your smartphone, you can let guests in, check to make sure you locked up before you left, keep a record of who has entered and exited, and unlock your door from the driveway. Cost? About $220. Home AutomationYou can ease into wireless control of your lighting and appliances with Insteon’s Start Here Kit, about $125, before moving on to automating other household needs, like irrigation control and occupancy sensing. Water SaverThe WaterPebble Water Saver memorizes the length of your first shower and uses it as a benchmark to measure future shower times. Using a series of ‘traffic lights,’ it reduces your shower time by a fraction each time, helping you save on your water bill without trying. About $12. Learning ThermostatFor about $250, the Nest programmable thermostat will learn your heating and cooling schedule and program itself. It can even be controlled from your phone and could save you up to 20 percent on energy costs. Smart WateringIs your sprinkling system over-watering or under-watering your lawn? Toro’s wireless Xtra Smart Soil Moisture Sensor keeps the moisture level just right. Not only will the health of you lawn improve, but your wallet (and the Earth) will benefit, too. About $115.

4 Kitchen Trends That Are Heating Up

Here are four emerging kitchen trends to ensure your cooking space meets all of your needs. Truly Professional Grade High-end appliances bring meal possibilities that were once only available to professional chefs right into your home. Stylish Appliances The functionality isn’t the only thing that’s getting an upgrade these days. Appliances are also taking on exciting new looks. Extra Storage It’s become increasingly popular to have not one, but two islands to ensure there’s ample room for all of your appliances, tools and tableware. Added Warmth Materials like wood, copper and brass are being juxtaposed with soothing earth tones to create an ambience that exudes low-key luxury.

4 Millennial Lifestyle Trends That Are Shaping the Luxury Market

Here are a few lifestyle trends that have come to define the real estate preferences of millennials, the driving force in the luxury market today. Health and WellnessFrom home gyms and meditation studios to saunas and massage rooms, millennials pay equal attention to the mind and body when it comes to personal wellbeing. Outdoor LivingAny homeowner can appreciate a luxurious outdoor living space, but for young and affluent buyers, this is frequently the No. 1 priority.  ConvenienceMillennials seem to gravitate toward homes that are optimized for efficiency and provide easy access to nearby amenities. Socially and Environmentally ConsciousMillennials seek to minimize their impact on the planet and, as a result, prefer homes that are designed to lower energy and water consumption.