Practical Tips When Buying a Luxury Home

Ever wondered who is buying luxury homes in San Antonio real estate for example? According to a study conducted by Coldwell Banker Real Estate Corporation (2003), US buyers of such properties belong to these profiles: "31% are cash buyers, 68% are considered 'new money, in these homes." The number one profession is. Buyers are classified as 'big business executives, 67% are from the 'baby boom' generation (between the ages of 35 and 55), and 88% of buyers are married.

Although the cost of these homes is quite expensive, still many people want to become a luxury homeowners. Needless to say, these homes are not for people with a flat wallet (homes cost between $1M-$4M) and a faint-hearted (maintenance is rather expensive too). You can avail of services of luxury homes through www.thechicagohome.com/.

Here are some tips when planning to buy a luxury home:

1. Although multiple listing services (MLS) can be helpful when choosing such homes, you may have to see the property for yourself. Visit and drive around San Antonio real estate and where these luxury properties are located. The look and feel of the house you are about to call home.

2. Document everything and in order. With the irrational economic climate and the apparent extravagant price tag of a luxury home, pre-qualification is imperative. Pre-qualification is completely different from pre-approval. Pre-qualification is an assessment of your income, assets, and debts. Through this, an estimated down payment is worked out and what type of loan you would be eligible for.

3. Hire experts and/or professionals. A buyer's agent may be more helpful to you in this type of transaction. They work exclusively with and for you, unlike some agents who also work with vendors. A specialized buyer's agent essentially looks after your welfare and you want to get the luxury home that you have been dreaming of.

Owning a luxury home is a matter of pride in itself, as not everyone else has the privilege to own it, lest even buy an ordinary house. As great as it is and sounds like it, you still have to work on it. But the pleasures, looks, amenities that come with such homes are worth every penny you are going to spend.