Things to Do Before Buying Luxury Real Estate

Sunday, September 8, 2013

Despite being a city that's popular for its vibrant culture and pleasant atmosphere, Vancouver is also known for having the highest cost of living in North America. It's so high that the starting price of many luxury homes in Vancouver can reach $4 million, especially in more affluent neighborhoods like West Side. As such, those who are in the market for some high-quality and expensive real estate should decide on their purchases carefully to avoid making a bad bargain.

One of the first things that buyers should do is to inspect the property they wish to buy and see to it that everything inside and outside is in good working order. Pest problems and roof damage can be found even in luxury real estate properties, especially vintage houses like those found in Gastown. Buyers may also want to double check the property's history to see if the relevant documents are available, with special interest being given to its maintenance history.

It would also help if the buyers would work with a lawyer and a home appraiser to ascertain if the property is properly-valued based on its current condition. There may be some home features or fixtures, like antique furniture, that the seller harbors great sentimental value for, but they really don't do much to increase the property's selling price. A lawyer is especially important so that the estate's legal documents can be properly reviewed before any purchase is made.


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