It’s only in human nature to desire to be lavished with luxurious things. Expensive cars, trendy clothes, cutting-edge gadgets – at some point, we’ve all wished to be the proud owners of all the things aforementioned. At the top of our wish list of the things we would like to possess lie luxurious properties. Buyers are aware that luxury condos cost an arm and a leg, especially in developed cities such as LA or NYC. But those who were lucky enough or worked hard for many years, possibly even decades, and who can afford such luxuries, should be wary. Whether you are buying your first home or adding another property to your long list of residences, know that there is a long process before you can start living your dream.
Luxury condos turn out to be worth every penny you spent on them!
It’s always best to work with a real estate agent
You might be a world-renowned doctor or a successful businesswoman, and that deserves nothing but respect. It must have taken you a lot of sacrificing to get where you are. Still, you are not almighty. Precisely because you are a successful and established person, you should know that there are professionals in every area that you can rely on to provide you with their services. The moment you need to relocate to your new luxurious condo, you will employ the best movers in your neighborhood. Be it Moving of America – NJ Movers or another relocation professional, it won’t matter. The point is, you will seek the help of those more experienced than you. It should be no different when becoming a homeowner.
One thing no city lacks are real estate agencies. If you are unsure why you should hire a real estate agent and not try to find a home by yourself, just ask a real estate veteran like Imma Giocoli, who is the owner of Tyler Vince Real Estate Inc. and they will give you more than a few valid reasons for doing so. The reasons include:
- Less stress, as real estate agents are already familiar with the listings in the area of your interest.
- Condos are different than other properties, and they have their own purchase contracts. You will need someone with the appropriate knowledge to help you deal with the technicalities.
- A real estate agent will have your best interest in mind, and help you avoid making any bad decisions.
Real estate agents will have your wishes and possibilities in mind.
Before saying yes, consider the community
Luxury condos are very much different from other types of properties. They differ in one very important aspect – shared space. Usually, every condo will come with a set of events that the HOA organizes. It is your job to inquire about them in each condo you visit. Condo life is much more than the luxury you are surrounded with – it’s the people you will be surrounded with that matter, as well.
Moreover, it’s also important to look at the communal spaces and rules and regulations. A lot of condos have commodities like gyms, pools, golf courses and similar. It’s up to you to find the one that has all the facilities that you consider important. Most importantly, find out whether there are any specific rules at the place of your interest. Is there a point in trying to transfer your grand piano safely if you can only play it at a certain time of the day? The same goes for pets. If you can’t part ways with your lovely furry friend but the residents around you don’t want to hear a dog’s bark every day, it’s clear what you should do.
Don’t be afraid to negotiate
Going into this process, you are probably already expecting that your bank account will suffer a significant loss. And that’s true – you are looking at luxury condos after all. But, you should not let that stop you from getting the best price possible. Negotiating a better deal is an inevitable part of home buying. And that does not change just because you are buying a luxurious property. During the entire process of home buying, you should have your budget in mind. Going over it will bring you nothing but trouble. Besides, your budget should contain much more than just the costs of condo buying. It should also contain the amount of money you want to spend on renovation. If you decide to keep old stuff in a storage unit and fill your new condo with shiny new things, good for you! Just have in mind that you will have to spend a lot on that, and don’t buy a condo that will leave you in debt.
Let your real estate agent help you seal the best deal!
Finally, don’t even consider buying a condo in an area that does not fit your wholesomely. That means that it should not only be in a good school district, but it should also be close to your work and other important amenities. You won’t feel like travelling hours upon hours just to reach your favorite restaurant or cinema.
Luxury condos are more than the glitz and glam that surround them. If you have trouble believing that buying such a condo can be a 100% pleasurable experience, just ask Imma – the aforementioned real estate expert. People with experience in the field know that all that glitters is not gold. Luxurious condos can be a source of great joy and pride, but they can also be a huge financial burden on your family’s budget. Make sure you have taken everything into account before making such an expensive deal. As a final piece of advice, there is only one conclusion to be drawn from what has been said – be extra wary and keep your eyes wide open. When you are dealing with such an expensive endeavor, even the slightest mistake could result in a huge financial loss. That’s the last thing you, or anyone else, needs.
Contributing writer, Betty White
AskImma 
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