Tips for Buying a Wilmington, DE Luxury Home
When you think of a luxury home, you might picture a swanky, urban New York City penthouse or a modern, oceanfront mansion in Malibu. However, we have some of the most beautifully maintained luxury homes right here in Wilmington, DE. If you’re in the market to buy a luxury home, I’ve compiled a few tips to help you navigate the Wilmington, DE real estate market with ease.
- Refine your home search
To protect their privacy, many luxury home sellers choose not list their homes with the MLS (Multiple Listing Service). You’ll have to do some deeper digging to find the real gems in the Wilmington, DE real estate market. That’s where having a well-connected Wilmington, DE real estate agent comes in handy. A lot of the luxury homes in the area are advertised by word of mouth.
- Don’t judge a home by it’s photos
Some luxury homes aren’t photogenic, and thus require an in-person visit to see the real beauty, square footage, details and stunning views. If you’re skeptical after seeing photos, don’t be quick to dismiss what very well could be your future home. Get a few different angles by looking up the home with Google Maps if an immediate drive-by isn’t convenient.
- Have a local expert assist you
Using a buyer’s agent who is a local expert in the Wilmington, DE real estate market is helpful in any real estate transaction, and a must with a luxury home purchase. With luxury homes, there are fewer open houses and more private appointments. Having a buyer’s agent facilitate these types of home purchases is very beneficial.
- Don’t pay for your Wilmington, DE luxury home in cash
A common misconception about those who purchase luxury homes is that they pay in cash. This isn’t necessary and may not be the best use of your money. In reality, only a small percentage of luxury home buyers pay in cash. Consider paying a substantial amount, as much as 30%, upfront and taking out a mortgage for the rest.
Of course, this isn’t an exhaustive list of tips to use when buying a luxury home in Wilmington, DE. Buying a home at a high price point is a long process with many different types of inspections, contracts, and requirements. Luckily, I know the Wilmington, DE real estate market like the back of my hand! When you’re ready to purchase your new home in the area, please let me know. I’d love to help make the search and purchase processes go smoothly.