Living in a luxury home is unparalleled. While each piece of property carries its own distinction, luxury real estate tends to have several attributes in common. Beauty. Grace. Uniqueness. Superb views. Matchless amenities. A sense of seclusion. And, of course, sheer elegance.
Whether you are scouting out luxury properties for your first purchase or are a seasoned investor, there are various things you must know before and during the process.
With this in mind, Oahu real estate agent Sean Sonoda has compiled a list of nine things to be aware of before putting in a purchase offer.
1. Location is crucial
A candid and qualified real estate agent will provide you with particulars on where the region is headed in the future, safeguarding you from purchasing an estate that may lose appreciation – whether that’s in terms of a location that is showing signs that it is starting to falter or a planned development that will shrink, if not prohibit, the views from your property. If you are looking for real estate in a state that sees a high number of visitors–such as Hawaii–pursue properties that are out of the way of crowds just enough to offer a feeling of serenity.
2. Determine your must-haves
A large part of a luxury estate’s appeal? The amenities it offers. There are a handful of commonalities in luxury homes; wide-open floor plans, spacious chef’s kitchens, roomy, walk-in closets, and lofty ceilings are a few of them. But to ensure you are wholly satisfied with your investment, ensure the estate possesses or has the potential to accommodate the amenities you need and desire. For some, this may be a deluxe master bath complete with a rainfall shower and sauna. For others, it may mean a wine cellar and tasting room or an Olympic-sized pool that’s situated next to a steaming-hot jacuzzi. And for others still, it may mean an in-home theater, an on-site gym, a tennis court, or even a golfing green. Listing the amenities you prize will aid your real estate agent in their search for your ultimate residence.
3. Understand the region’s natural forces
4. A private tour is often a must
It may be tempting to purchase a property sight unseen once you have fallen in love with the photos, but it keeps you from fully comprehending the home’s attributes, potential faults, and overall energy. After all, photography can provide an illusion that is at odds with reality, while touring the estate in the flesh will allow you to understand the home’s flow and details.
5. ...and due diligence is an imperative
No matter how immaculate the luxury home may be–or how many other buyers you are bidding against in our presently-hot seller’s market–you should never overlook the importance of conducting due diligence to guarantee the value and price of the home accurately parallels its genuine condition. A professional home inspection is necessary for all buyers–but is particularly critical for luxury real estate investors.
6. Enter the process with patience
7. Grasp the estate’s resale value
8. Get a full picture of the HOA rights and responsibilities
9. Work with an experienced, reputable real estate agent who doubles as a local expert
Sean Sonoda is exactly the realtor to call if you are searching for a luxury estate in Oahu. He has an in-depth understanding of Honolulu real estate market trends and specializes in luxury properties throughout the state capital and into the windward side. Timely, responsive, and knowledgeable, he will provide you with an unrivaled experience.