Gearing up for a hefty luxury real estate purchase in the Windy City? Here are five expert tips to keep you on the right track:
- Know where and how to search for luxury homes
- Look beyond the photos
- Secure title insurance
- Think about the future
- Look for smart tech
- Keyless, smart door locks that require PIN codes or mobile device passwords to unlock
- Internet-connected security systems that let you monitor your home even while you’re away
- Adaptive heating systems that “learn” your thermostat preferences and usage habits
- An interconnected home appliance ecosystem that can be voice-operated via a digital assistant such as Google Assistant or Amazon Alexa
While the range of luxury mansions for sale in Chicago is wide and varied, these properties are not always easy to find. Unlike regular houses, not all high-end homes appear on online listings. High-profile sellers opt to go unlisted to protect their privacy.
Improve your chances of finding exceptional luxury listings by working with a realtor who specializes in luxury real estate. In Chicago’s dynamic real estate market, seasoned and trusted realtor George Cain offers the connections that will lead you to the best luxury home to match your needs. Plus, you can count on his industry savvy to guide you through a smooth buying process.
High-quality images are always a welcome feature in online listings and marketing portfolios, but these don’t always capture a home’s best qualities. Be sure to visit and examine the homes in person to get a real-life feel of what may become your main living space for years to come.
Another way of using digital imagery to get a feel of the property is by using Google Maps. Unless the property is just a few weeks or months old, you can find a bird’s eye view of your address via this online tool. The direct overhead perspective is an excellent way to visualize the size and form of the lot. For instance, if you’re wondering how adding a new pool will affect your available yard space and landscaping, this trick will give you a good idea.
Title insurance defends property owners against any challenges to the validity and legality of their real property ownership. Unlike traditional insurance policies that require recurring payments, title insurance is only a one-time expense, so you can easily incorporate this into your budget planning for a luxury home.
Title insurance is a requirement in all Cook County real estate purchases, so count on your agent to make sure this step is accomplished.
Like any investment, purchasing a luxury property requires a high degree of foresight. Think of the property’s resale value some 15 to 20 years down the road. Will your hefty expenditure today pay off in case you decide to sell the property in the future?
Learn about other development projects planned around your neighborhood, as well. Your loft-type condo may give you captivating city views as soon as you move in, but will new high-rise buildings get in the way of this view in, say, 3 to 5 years?
Properties that are still under construction are attractive to buyers because this allows them to choose their preferred materials and finishes. If you choose this route when buying your Chicago home, be sure to know the timeline. Consider potential causes for delay to help you decide whether it’s a sound decision to lock up your cash for an unfinished product.
An upscale home at the heart of a booming metropolis must have the sophisticated features and fixtures to match. So by now, expect a luxury property to include up-to-date smart home technologies in the total package. Here’s a quick list of practical home tech you can ask about:
If you are eyeing the best million-dollar homes in Chicago, you’re in good hands with Cain Chicago Residential. Start a conversation with Chicago real estate expert George Cain today by calling 773.818.9005 or emailing georgepcain(at)gmail(dotted)com.