Let The Stephen Haw Group make buying a home in California’s sunny South Bay area a smooth and rewarding experience. Start here with this comprehensive real estate buyer’s guide.
Understanding luxury real estate
It is important for every home buyer to understand what truly constitutes a luxury real estate property. This is especially significant in the California housing market, where million-dollar asking prices are the norm.
Don’t be misled. There is more to a luxury home than just a steep price tag. Look for these key qualities instead:
- A prime location in a highly coveted region, city, or neighborhood
- Premier-quality construction materials and finishes
- Bonus features and amenities
- Utmost privacy and security
- A distinct story or historic character
Most importantly, luxury living is a personal and subjective matter. When searching for your dream home, look for an entire experience that suits your ideal lifestyle, rather than just an attractive structure or property.
Luxury real estate as an investment vehicle
Southern California’s luxury real estate market is attractive not only for high-end home buyers, but for investors, as well. The region’s sunny, subtropical conditions are ideal for turning glamorous mansions and waterfront estates into luxurious vacation rental properties.
Even purchasing a luxury property for use as a secondary/vacation home is considered a sound investment strategy. Ultra-high-end homes in Los Angeles project to continue increasing in value in years to come, making them stable and potential-laden assets for the long term.
Finding the right real estate agent
Whether you want to buy or invest in luxury homes for sale in the Palos Verdes Peninsula, select the right real estate agent to guide you throughout the detailed and time-consuming process.
Look for these important qualities when choosing your buying agent:
- In-depth local area knowledge
- Up-to-date real estate market and industry expertise
- Experience in luxury/waterfront property transactions
- Strong negotiation strategies and skills
- A wide and reliable professional network
- Transparency and integrity
- Passion and determination
- Accessibility and responsiveness
The Stephen Haw Group is a team of the most trusted luxury real estate agents in California. Contact us today to learn more about how we can make your real estate dreams a reality.
Financing options for luxury real estate buyers
Cash is the most straightforward way to purchase a high-end property. You do not accrue any interest on a loan over time nor do you need to pay additional costs like appraisal fees or mortgage origination fees.
Paying cash is also an effective way to catch a seller’s attention in a competitive market; sellers always favor buyers who have the means to pay right away.
Alternatively, luxury buyers can use a jumbo mortgage to finance the purchase. This type of loan comes with distinct underwriting requirements and tax implications, depending on the location.
In Los Angeles County, where homes are considerably more expensive than most places in the United States, any loan larger than $625,000 is considered a jumbo loan.
Using a mortgage allows luxury home buyers to leverage their liquid assets in stocks, bonds, private equity, or other investment vehicles that promise lucrative returns in the immediate or medium term. With current average interest rates at a low 4%, buyers can capitalize on other investment opportunities that can earn more over a shorter period.
How to find your ideal home
Searching for the ideal home is an exercise best done with help from a reliable professional partner. This is especially true for luxury real estate properties, where some of the finest options are not even available on public listings pages. With a well-connected agent on your side, you can gain access to the exclusive, off-market listings.
Are you ready to begin searching for your dream Palos Verdes luxury home? Browse our featured properties here.
You may also search for your dream home by community through these links:
- Rancho Palos Verdes
- Palos Verdes Estates
- Rolling Hills
- Rolling Hills Estates
- The Beach Cities
Making an offer
Here are tips on making a strong offer:
- Consult closely with your agent to determine the optimal offer price.
- Craft a compelling offer letter to establish a personal connection with the seller.
- Do not hesitate to enter a deliberate and thorough negotiation through an experienced agent who understands your best interests.
- Be patient at this stage. Chances are, the seller is fielding and reviewing several offers along with your own – including pitches from overseas buyers. Set realistic expectations considering this field of competition.
- Be ready to move on to the next property on your list if the seller rejects your offer outright, or if you get outbid by a competing buyer.
Due diligence and closing
When the seller accepts your offer, move quickly to satisfy all contingency measures required to close the sale. Important steps to complete at this stage include the following:
- A full professional home inspection
- Title review
- Review of homeowner’s association documents and rules, if applicable
- Setup of house utilities such as power, telephone and internet, and water
- Securing homeowner’s insurance
When all contingencies are fully met, you and your seller are ready to close the deal. Congratulations on becoming a proud, new owner of a Palos Verdes luxury home!
For more tips on buying real estate in LA’s highly coveted Palos Verdes Peninsula communities, read these useful blogs and updates:
- Things to know before buying a house in California
- Questions to ask a real estate agent before buying a house
Find the finest beach homes for sale in California with Stephen Haw
Make your dream home a reality with the Palos Verdes Peninsula’s most trusted luxury real estate specialist, Stephen Haw. Get in touch with Stephen and his team of skilled professionals at 310-503-9886 or email skh8828(at)gmail(dotted)com today.