Congratulations. You have worked hard and are ready to make the move into the luxury real estate market. The same general rules of purchasing a home will apply, just as they always have, but there are some differences you should consider.
Starting the mortgage process early is always the best first step, and one that many luxury buyers skip. They have plenty of money and good credit, so the question of financing is often never raised. Yet, for the luxury buyer, it is often more important to start this process early. Finances in this realm tend to be more complex. Due to the larger liability on these purchases, lenders, underwriters, and home sellers look at potential purchasers with more scrutiny.
In this... Continue reading