ReSET Blog
Blog · October 05, 2018 · AUTHOR: Roy Dekel

Buying Your First Luxury Home

When buying a luxury home, not only are you sitting in the lap of luxury, you’re living in it. A luxury home is more than a mere structure, dwelling, or residence. It represents your tastes, and it’s a place where you can live in high style. If you’re a first-time luxe home buyer, you need to make some informed decisions before you sign on the dotted line. Then your home will, indeed, be your castle. Here are some tips for buying your first luxury home.


Luxury homes can be difficult to locate because of their exclusivity. Often, they don’t appear on multiple listing services (MLS) because owners want to safeguard their privacy. A high-end agent knows the luxury market and works solely with elite buyers. Your agent has access to pocket properties, which are not openly advertised. There are even agents who specialize in a particular niche such as beach houses.


Pictures, brochures and video walk-throughs don’t duplicate the feeling of actually being in the home. Even if you have to travel across the country or visit from overseas, a personal viewing is imperative - after all, this is a huge purchase you’re making! Gauge the house’s appeal by visiting it several times at different times of day.


Know what you want before looking at houses, and make a checklist. By doing this you’ll rein in your emotions and thwart an impulsive decision. That home theater looks amazing and so does that wine cellar, but they won’t be so amazing later when you’ve paid for them and never use them.


The high-end market examines buyers under a microscope, so financial documentation is imperative to prove that you can afford a multi-million dollar home. This shows the seller whether you’ll need to obtain a loan or pay in cash. Cash is the favored luxe home payment.


Just because a house appears opulent and awe-inspiring doesn’t mean it’s unblemished. A closer look could reveal pests, mold, faulty plumbing or outdated appliances. Don’t do this by yourself. It’s important to enlist a professional home inspector specifically versed in high-end properties.


Your dream home can quickly morph into a nightmare if you don’t carefully investigate its surroundings. It may be situated in an exclusive neighborhood that bumps up against a questionable area six blocks away. Ask your agent what will happen to the area in the future. For example, is there a projected high rise or housing development that will obstruct your gorgeous views? Even if you’re eyeing a gated community, check out possible issues with the location.


You haven’t even finished looking at potential homes, yet you need to consider their resale value? Yes. Be certain that you can comfortably recoup what you spent on the house if you need to sell it. Again, a fantastic location factors into this scenario. The home’s condition is also crucial to its salability. When you buy your first luxury home, you enter an elite realm of taste, refinement and dreams-come-true. However, you can’t just make an emotion-fueled plunge into this purchase. Preparation and restraint will help you discover a luxury house that truly is a home.   Kelsey Davis is the Managing Editor at The Lux Authority and is trying to balance both her budget and her credit card balance. She likes to live lavish and treat herself when the opportunity allows it. She loves the newest tech, old cars, the smell of rich mahogany, and leather-bound books as well! When she isn't working, Kelsey is an avid academic, artist, stargazer, blogger, and yoga enthusiast.

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  • My aunt and her husband want to buy a luxury house this winter. Thanks for explaining that they will want to make a checklist of things they want to have. I know that they will want to have enough room for all of their kids and grandkids when they come to visit. I am pretty sure they would want to also have something like a pool or theater room to help entertain those grandkids as well.
  • My brother would like to live in a huge luxury home since he would like to have a water fountain in front of his house as its main attraction. It's true that pictures don't duplicate the feel of a home, so I'll advise him to visit his prospect homes. I think I'll help him find a real estate professional so he can get some assistance in finding the home that he wants to buy.
  • I love how you said that you need to inspect the home with a professional home inspector who knows about high-end properties. This will help people realize if the luxury home they are looking at is really as good as it is advertised to be. I appreciate you writing about this and helping people know if they are actually getting a good deal o a luxury home or not.
  • Trevor Hall says:
    My wife and I have been saving up for a pretty long time and are finally ready to buy the home of our dreams. We have worked really hard to be able to afford a nice house so we want to make the right choice. I like that you talked about inspecting the home first so that there are no surprises.
  • My aunt and uncle are moving back to our state to be closer to my grandparents, but they need a house that fits their taste. I showed them this article, and they appreciated the advice which says that in order to control your emotional and impulse buying, it's important to make a checklist. We'll have to look into luxury townhomes near us.
  • I like that you talked about even though homes can appear luxurious they can still have pests so it's important to get the home inspected before you purchase it. My wife and I are planning on moving soon and are trying to limit the number of mistakes we make during this process. We will make a plan based on the information in this article as we search for our dream home.
  • Braden Bills says:
    I want to make sure that I get the right luxury home for me. It makes sense that I would want to start off by making a checklist of everything I want in a home! That would be a great way to start narrowing down a list.
  • I agree that you should not judge a property before doing a personal viewing. When my husband and I were first married, we set a goal that, after we retired, we would move to our dream luxury home. We retired last year, and now we are finally making plans to be able to move, so we will have to make sure we contact a realtor that can help us choose our perfect home.
  • I like your advice about keeping financial documentation to prove that you can afford a home. My sister in law and her husband have been planning on buying a luxury house after their honeymoon. By the time they return, I will have some great information for them.
  • I like how you said that just because a house is big opulent doesn't mean there are things wrong with it. My husband and I are saving for our dream home. We will take this into consideration and make sure we get it inspected.
  • Thanks for the tip to ask what will happen to the area in the future, even if we're looking at homes in a gated community. My husband and I will need to move for his work soon, and we like the idea of finding a private community to live in to help give us peace of mind about our family's safety. I'm glad I read your article because I feel a lot more prepared to start looking at houses now that I know what factors we should be prioritizing!
  • Hi Kelsey, there is a friend of mine who was questioning me if i have any idea or tips for investing in luxury homes. I am glad I came across this and happy that sharing this will definitely help him out. Thanks for sharing this resourceful piece of information.
  • Mindy Jollie says:
    I'm glad that you included a section about locations of luxury homes because I'd imagine it'd be fairly easy to find a nice place in a terrible area. It's good to be foresighted and ask about projections for that area! My husband and I are looking for a new home and we will definitely keep that in mind as we consult with a real estate professional.
  • I have an uncle that is thinking about getting a luxury home. He is thinking about getting this kind of property for him and his family. It might be worthwhile for him to get an inspection on any properties that he likes.
  • Jackson Bush says:
    It's a good reminder that you should know what you want before looking at houses and make a checklist. My wife is so quick to want to commit and buy a house but she forgets that there are some essential things that we both need when we are considering buying a new home. I'll be sure to prepare and make a checklist soon and show my wife so that we can be on the same page when we are househunting.
  • This is some really good information about real estate buying. It is good to know that you should get an inspection done. It is would be nice to know if there is anything wrong with the property.
  • I like that you state that it's important to find an agent that is used to selling this type of property. My brother is on the search for a new house. I will send him this information so he can make sure to find the right homes for sale to look at.
  • I wanted to thank you for the advice for buying a luxury home. You mentioned that you should try to document everything in a home, especially to prove you can afford the home. It sound important to try to have these documents ready really early so you can retrieve them whenever necessary.
  • It's good to know that I have the option to ask an agent what will happen around my desired area in the future, knowing that agents have information regarding the future of a certain neighborhood is reassuring. My wife and I have a specific place in mind that we would like to live near but have been worried about what kind of construction is going on in the area, we wouldn't want to have our view obstructed if something ends up being built too close to us. We will make sure to ask about neighborhood construction plans when we find an agent that suits us.
  • Steele Honda says:
    I like hat you said that a high-end agent knows the luxury market and works solely with elite buyers. My husband and I are thinking about buying a luxury home because my husband wants a nicer place for us in our retirement. I think it would be smart to talk to an agent that works with those kinds of homes so that we could know what our options are so that we can make sure that we are getting the best house for us.
  • Larry Weaver says:
    Thanks for explaining how making a checklist for what you want in a home can help you avoid impulsive decisions. My wife and I would like to buy a home so that our kids can live closer to their school and their friends. We will consider making a checklist and working with a real estate agent to help us find the right home.
  • Sam Li says:
    When looking to buy a new home, it's best to seek help from a reputable real estate agent. You made a great point when you said that financial documentation is imperative. My friend wants to invest in a new home, so I'll help her find a real estate agent that is mindful of the current market.
  • Braden Bills says:
    I want to make sure that I get my property sold effectively. It makes sense that I would want to get a professional to help me out with this! They would be able to ensure that everything is documented so I don't miss anything when describing the home.
  • Well written and to the point. I appreciate the detail in this article!
  • It's great you talked about making sure to write down notes and throw a checklist together when you're looking to buy a new house to move out to. Another important thing to consider is that you shouldn't rely on just the pictures that may have been posted since you would want to see the properties for yourself when you go out for a house staging. If I had the chance to work as a real estate agent I would want to make sure that any and all clients who would want to view the houses I would be selling would feel comfortable when they come over for their house staging.
  • Callie Marie says:
    Thanks for the advice to hire a real estate agent who specializes in a particular niche you are interested in, like luxury homes or beach houses. This is a great suggestion if you are looking to find our dream home quickly. I would love a country cottage with an open floor plan and all the modern technology available. I'll find a doctor who knows how to find what I want.
  • It sure is helpful to know that real estate agents who specialize in selling luxury homes and apartments are available to help in looking for hard to find high-end listings. I am looking on buying a luxury home but I am having difficulty finding any listings online. That is why I intend on hiring a real estate agent who specializes in these cases to help me find the best home for me. I would definitely follow your tips on how to look for a luxury home!
  • My parents want to buy a new home where they can retire comfortably but they don't know what type to buy. It was explained here that they should make a checklist when planning to buy a house. Moreover, it's recommended to consult real estate experts when planning to buy a house for sale.
  • Braden Bills says:
    I want to get a good home. It makes sense that I would want to get a real estate agent who is experienced with this kind of thing! I'll be sure to take them with me if I go to inspect a home. They would know what to look for.
  • Adrian Jones says:
    I like how you talk about the importance of looking for a real estate agent who's well-versed in luxury listings since they would be the ones to look for your dream property for you when you give them a description to go by. Another thing to consider is that keeping your credit score in good standing is critical since the higher-end of the market would examine your financing details with much more scrutiny to see if you can meet monthly payments on time since this is a higher-end kind of property being made available for you. If I were to work in high-class luxury real estate, I would do my best to listen to all my clients' requests and pay attention to anything else that they would want to be included in the listing that they want to check out.
  • I like that you suggest finding a real estate agent that is well versed in luxury homes. My wife and I have decided it's time to move into a much nicer house, so we are looking into what we are going to need. I will keep this in mind moving forward, so we can make the best decisions for us.
  • This is some really good information about luxury home buying. It is good to know that you should get a professional inspect your home. That does seem like a good thing to be aware of when you want to get a luxury home.
  • Erika Brady says:
    Your recommendation to find a real estate agent that knows the luxury market so they can help you find the types of homes you're interested in that are hidden and safeguarded for the owner's privacy. This would be useful to have more luxury homes to search through in order to find the right one for what you want. When choosing an agent, it might help to consider what type of property you want and where you plan to move to in order to be able to research local professionals to find ones that know the market and can help you find the kind of houses for sale that you're interested in as well as one that can help you throughout the entire process to ensure you know how to complete everything to avoid any issues.
  • Millie Hue says:
    I like that you suggested having a checklist since it will be able to ensure that you will not be making an impulsive decision with it. I will share this tip with my sister now that she plans to have a luxury house to reward herself for working so hard. She is also a single mom that is why she needs this to boost herself. This tip will help her in picking a house because she can be quite impulsive when buying things just like when she bought a very expensive dress that she can only wear once.
  • Hazel Owens says:
    Thanks for the tip not to judge a home by their photos but to actually go to the home so you can make sure you like the appeal when you see it in person and at different times of the day. This is helpful since my parents are looking into buying a luxury home, so I'm helping them find properties to look at. I'll have to tell them this so we can make some trips to places so we can make sure they'll actually like the home before they buy it.
  • Sam Li says:
    I appreciate your advice about keeping financial documentation in check in order to prove that you can afford a multi-million dollar home. Luxury homes are amazing because they can allow you to feel comfortable at all times throughout the year. If I were to buy such a home, I would make certain to work with a real estate agent that can offer me expert advice in the world of the luxury home buying.

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