Buying a luxury home is . . . well, different. Owing to the huge investment involved, it can be both exciting and stressful – and it usually takes longer. And while luxury homes are typically much larger, there is much more to consider than just square footage. If buying a luxury home is on your horizon, you need to get a good handle on everything involved, from aesthetics to amenities to the location. The process and what you need to look for differ from those in the purchase of lower-cost homes. Read on, then, to discover 3 things to look for when buying a luxury home in New Jersey.
1. Consider the Location’s Future
When buying a luxury home in New Jersey, don’t fall into the trap of only considering the location as it is now. You also need to consider the location’s future, both short-term and long-term, because that desirable location may not remain as desirable as it is right now.
In the beginning, “you will be looking at houses and locations based on how they look right now.” But industry experts say that you need to “[m]ake sure to also research what the area around you is going to look like in the coming future as well. You never know when a large building is going to be built close by that increases traffic. A house can change a whole lot when a road or highway is built right behind the backyard.”
But a location can also get better. And that means if the location isn’t exactly what you want right now, ti may improve drastically in the future.
For example, “a new park or school could be built in your community. New businesses that may be of interest could be looking to move into the area as well. Learning about the potential or planned infrastructure changes around the community can have a big effect, both positive and negative, on the home you may be looking to buy.”
Of course, you need to do your own extensive research here, but it’s also wise to consult a New Jersey agent to find out more about a particular location’s future prospects. To discover more, just call 855-966-DEAL.
2. Carefully Assess Amenities
One of the main reasons people buy a luxury home is the amenities. But before buying a luxury home, you should carefully assess the amenities to determine whether they are simply very expensive bells and whistles or whether they are actually things you will use that will enhance your life.
Many luxury homes have some pretty outrageous amenities and features, often very beguiling but not all that useful. Large pools and tennis courts are fairly common in luxury homes, but some have such things as home theaters, shooting ranges, rock climbing walls, and even bowling alleys. If you paid substantially extra money for these in a home, would you actually use them?
So before buying a luxury home, think carefully about the amenities and features – that is, which ones you want and will actually use and which ones will just wind up collecting dust (and at a pretty hefty price tag).
For example, a dedicated home library can be pretty impressive, but not if you’re not an avid reader. And then if you’re not a drinker, a full bar or wine cellar won’t do you much good. So consider what you really need and want to avoid paying for things you’ll seldom use and still have to maintain.
3. Go Beyond Photos and See It in Person
Listing photos can tell you a lot about a property, but they often reveal less about a luxury home than they do about a lower-end home. Still, photos can be very useful for buying a luxury home, but be aware that they can be deceptive in either direction.
Experts advise that you “don’t dismiss properties based on their front elevation photos. Many large homes aren’t photogenic that way, and you have to see them in person to appreciate. . . . [d]o a search of the property and vicinity on Google Earth so you can see what’s around the home.”
The simple fact is properties often look much different in online photos than they do in person. Photos simply can’t display larger, luxury homes in their best light. That’s why it’s so important to walk through a luxury home and see it in person to experience the full effect and impact.
And Use a Local Agent with Luxury-Home Experience
Finally, as we’ve mentioned, buying a luxury home is a bit different, and that’s why the services of an experienced New Jersey agent are so essential. Just make sure the agent you choose knows the local market well and has ample experience with luxury homes. When you’re paying that much for a home, you don’t want to take any chances. If, then, buying a luxury home is your goal, contact us today at 855-966-DEAL.