Buying Luxury Homes In Savannah
The luxury real estate market promises an opportunity to call something unique and beautiful your own home. And Savannah, Georgia—with its rich history, southern charm, and exclusive seaside communities—is a wonderful place to find the luxury home of your dreams.
But as one of the biggest financial decisions you can make, buying a luxury home is best done when you’re informed about the ins and outs. So let’s look at some tips that will help make your experience as smooth as possible.
REALTORS Are The Secret
Buying in the luxury real estate market is not like buying in the non-luxury market. In the non-luxury market, sellers advertise widely to help buyers easily see their listings. Buyers can then schedule viewings, compare prices and look at a variety of homes in one or more areas, all without much hassle.
The luxury market typically doesn’t work this way. Sellers in this market tend to value privacy and discretion, and sometimes simply wish to avoid the curious neighbor or looky-loo altogether. This means, sometimes barriers are set up for luxury real estate in order to separate the serious buyers from the friendly lookers. In some ways, this can make it difficult for some buyers to know what’s on the market.
Fortunately there is a time-tested solution for this: Realtors who specialize in the luxury market. These Realtors typically rely on a small network of colleagues for information about what’s for sale, giving them valuable insight into an exclusive market that may otherwise be limited in its public display. Your luxury Realtor can keep you up to date on the luxury market without having to play a guessing game through word of mouth.
The luxury real estate market is unique in another way: there is typically less competition. Some find this surprising at first. But it makes simple sense when you consider that in the non-luxury market there is a larger number of potential buyers who can make competing bids on a property. So if you find a home in the traditional market that you love but want a little more time before you commit, you could lose it to another bidder.
The dynamics of the luxury market are very different. Since it is highly exclusive, there are fewer potential buyers, and this allows them to be more discriminating. The threat of being undercut by a competing offer is considerably reduced, and buyers may likely take a little more time to consider their decision.
Of course, competing bids are a feature of any market, and the luxury real estate market is no different. But the chances that your offer receives careful consideration is generally higher than in the non-luxury market.
Location, Location, Location
It can be easy to overlook what you can and cannot change in a home. We are, of course, talking about the difference between the house itself and its location.
Houses on the luxury real estate market are sure to impress with cutting-edge appliances, top-notch finishes, and unique signature touches. But it’s critical to not let these distract you from the home’s location. After all, no matter how much you love that multi-car garage, chef’s kitchen or stunning balcony patio, you have to really love the one thing you can never change: the home’s physical location.
Fortunately, this isn’t a hard challenge to meet in Savannah. As the gateway to the South, Savannah boasts some of the most beautiful ocean real estate on the eastern seaboard. Exclusive communities like Skidaway Island and Haig Point promise beautiful natural scenery and privacy that will not disappoint.
But it’s still a good idea to do your due diligence. Ask your Realtor about future plans for the community, zoning laws, and density estimates. All these will change the character of your neighborhood over time, and you want to make sure it changes in a way you like.
If you’ve found a luxury home you love, in a perfect location with all the amenities and more, then you might be ready to make it your own. But think about the long road you’ve taken to get here and how carefully you’ve weighed your decision. Now imagine you’re the home’s seller, rather than its buyer.
It’s not always easy to sell a luxury home. The market is naturally restricted and buyers can afford to be extremely discerning. So when considering your luxury home purchase it’s critical to think about both what you want and what your own future buyers might want. After all, it’s likely a time will come when you decide to sell, and you want to make sure someone else will love your home as much as you do.
Fortunately, Savannah’s luxury real estate market promises to make selling your luxury home easy. As a commercial hub in the South with a reputation for natural beauty and a laid-back pace of life, an increasing number of families are interested in the best of what Savannah has to offer. It’s expected that the luxury market here will likely thrive for years to come. For more information about buying luxury Savannah homes or buying luxury Pooler homes, contact the Heather Murphy Group today!
But it’s still a good idea to look at the market from the point of view of a seller. The more expensive a home is, the more expensive it will be for someone else if there ever comes a time when you choose to sell.