Buying a Home in Beverly Hills – Beverly Hills Luxury Real Estate
Properties in Beverly Hills are some of the most sought-after and highly valued homes in the country. It’s a far from average market and investing in real estate here is going to be very different from investing in property in other more ordinary areas. If you’re considering buying a home in the city then you need to be prepared to take a more thorough and at the same time more discreet approach.
You’ll want to get help from the right real estate agent.
Owners of luxury homes don’t always want to advertise the fact that they’re putting their property on the market. This means that the internet, while a helpful resource, is not going to give you a complete picture of what’s currently available. You need information that only a knowledgeable professional can provide.An expert real estate agent who specializes in Beverly Hills’ luxury homes will be able to provide you with access to listings, including those that aren’t on the open market, and advise you as to which areas will best suit your needs.
Learn more about the area.
Beverly Hills is composed of a wide variety of neighborhoods and has a far from homogeneous selection of properties. It pays to do your due diligence and get acquainted with its diverse areas, each of which will have its own topography, atmosphere, and so on. These include Trousdale Estates, the Beverly Hills Post Office area, and more.You will want to become more intimately acquainted with the particularly community or communities you want to invest in not only for your own comfort, but also to better gauge a property’s future re-salability.
Decide on what features you want.
It’s always a good idea to know what you want before you go looking for it. Also, this will save you plenty of time – just hand over your list of must-haves and nice-to-haves to your agent and they’ll know where to start looking and can pre-screen properties for you to boot, saving you a great deal of time and effort in the long run.
If you’re taking out a mortgage, do so as early in the process as possible.
So you like the interest rates and want to get a mortgage for your home purchase instead of going with a cash purchase. You had best get the ball rolling as early as possible because the approval process for jumbo loans can take longer and you will typically need to prepare more documents. The down payment is also usually larger and is probably going to be at least 30 percent.
Be prepared to disclose some of your financial details.
It’s standard for sellers of luxury properties and their brokers to make inquiries about your ability to purchase their property. They may inquire about your assets or ask to see a bank statement, among other things.
For more advice on investing in luxury real estate, whether in Beverly Hills, Brentwood, Bel Air, or other prime areas in L.A., schedule a consultation with Ambra Bisconti today.