A home is more than just a roof over your head. For hardworking people, a home is a testament to their accomplishments, a reward for going the extra mile.
As such, more and more successful people are investing in luxury real estate such as homes for sale in Lake Minnetonka. After all, who wouldn’t want to come home to a beautiful abode in one of the most scenic spots in the country? Even if you don’t plan to live here full time, it’s still a great investment as you can use it as a vacation home—and rent it out for the rest of the year. Likewise, your luxury home can eventually serve as your retirement residence, a place where you can enjoy your golden years.
That being said, purchasing a luxury property requires a lot of careful thought and consideration. Here are just some of the factors you need to consider when looking for luxury homes for sale in Lake Minnetonka:
Do Your Due Diligence
A lot of people make the mistake of buying the first home they like. While the home-buying process certainly has an emotional component to it—some properties really just “speak” to you—impulse purchases might give you some buyer’s remorse later on.
For instance, you might fall in love with a beautiful home, only to realize that it’s too big or too small. Or perhaps you get a house with an huge pool, but that hasn’t been inspected in years. In short, inspect the house first and ask as many questions as possible before making a final decision. Only when you are fully satisfied should you make an offer.
Land is a finite resource, and land in prestigious areas such as Lake Minnetonka are even more so. This is the reason why luxury homes for sale in Lake Minnetonka can command a premium—a lot of people want to own a home in such locations, but there’s only so many available lots there. As the area becomes more developed, your property should also see good valuation in the years to come.
Hence, location is one of the most crucial considerations when choosing a home. If you choose a good location, your prized home will become an even bigger asset in the future.
A luxury home is a beacon of leisurely living, which is why many such properties offer amenities such as pools, saunas, gardens, and other excellent features. The question, then, is which amenities fit your lifestyle most.
If you’re a fan of entertaining guests, perhaps an outdoor porch is a must have. For those who enjoy movies, a home theater would be a great amenity. Of course, there’s also a chance that the home you want won’t have all the features you need, which is why you should also check if the property has enough space to accommodate custom home improvements.
There’s also the matter of financing. According to Investopedia, financing for luxury homes typically takes about 45 to 60 days to secure. As you might expect, the bigger the home loan you’re asking for, the longer the verification process takes. What’s more, sellers of high-end properties usually only show their home to qualified buyers, so being prequalified definitely helps. As much as possible, make sure to get your financing in order as early as possible so you don’t get beaten to the punch by other buyers.
Of course, having the right real estate agent is also a crucial factor in purchasing your dream home. Be sure to choose agents who know the local real estate market like the back of their hands. They will typically have access to exclusive properties that are not listed anywhere else, giving you first pick of all most premium homes available in your desired area. Our team at The Bartikoski Group can give you that edge when looking for luxury homes for sale in Lake Minnetonka. Call us today at 612-702-8865.