Virginia Beach is a flourishing coastal city that offers an enviable waterfront lifestyle, making it a popular place to buy luxury homes. This dynamic locale — the only metropolis boasting coastlines along both the Atlantic Ocean and the Chesapeake Bay — beckons prospective homebuyers to its glistening shoreline. With top-of-the-line features and amenities, the luxury real estate market in Virginia Beach provides homeowners with the ultimate comfort and convenience.
Situated on prime real estate, the most sought-after homes in Virginia Beach offer stunning views of the ocean, beach, and cityscape. Whether you prefer an oceanfront estate or an exclusive gated community, Virginia Beach offers an extensive selection of upscale homes in coveted neighborhoods, such as Sandbridge Beach and Chesapeake Bay.
A luxury home is a significant — but rewarding — investment. Your private oasis will provide an elevated standard of living that ensures each day begins and ends in a beautifully appointed setting.
This comprehensive guide features expert advice based on Brandon Carney’s expansive knowledge and experience in Virginia Beach’s unique real estate market. If you’re ready to delve into the world of luxury real estate, keep reading for the best tips to buy a house, so you can finally actualize your luxury lifestyle.
DEFINE YOUR VISION OF LUXURY
The market designates luxury properties based on the listing price, size, location, unique architecture, and design. Elite homebuilders use only the finest materials, finishes, and fixtures. Featuring high-end appliances, materials, and amenities you won’t find in a typical home, these residencies offer a sophisticated lifestyle with intuitive details. A luxury real estate agent will help you find a home that meets your expectations.
Located in prime real estate districts featuring access to top schools, recreational clubs, restaurants, and retail, purchasing a luxury home gives you access to an exclusive lifestyle that makes it worthy of investment.
COLLABORATE WITH PROFESSIONALS
Exclusive real estate opportunities abound in Virginia Beach’s most desirable neighborhoods. A local expert can help you unearth hidden gems in attractive communities you may have overlooked.
When collaborating with a luxury real estate expert, you will enjoy a more favorable home-buying experience. From refining your search to negotiating an advantageous contract and closing the deal, they will free you from challenging and time-consuming steps, involving you only when necessary.
ENVISION YOUR IDEAL HOME
Home search and selection assistance are essentially real estate services. However, before you meet with your real estate agent and begin your formal search, determine what you value most in a home. Consider:
- What deluxe features will you find most useful?
- Do you prefer a condo, townhouse, or single-family dwelling?
- How many bedrooms and bathrooms do you need?
- Are you particular about the home’s view?
- Would you be better suited in an established neighborhood or newer development?
These details will ultimately determine your satisfaction with your purchase. Once you’ve answered these questions, your realtor will provide a condensed list of properties that meet your needs and prioritize showings based on the home features that matter most to you.
MAKE A COMPETITIVE OFFER
Once you select a property, your realtor will initiate the transactional processes — an arduous undertaking best handled by skilled negotiators. First, they will help you determine an attractive offer the seller will actually consider, then leverage insider knowledge of recent market sales to secure the best possible price for your home.
Negotiating a sale price that satisfies both parties is a challenging but crucial step to move the process forward. Allowing your realtor to represent you during negotiations is the best way to avoid expensive missteps. Remember, it’s in their best interest to drive the deal in your favor, so you can relax knowing they will represent you with prowess.
SECURE FINANCING
If this is your first luxury purchase, remember that the financial process will likely exceed your previous home-buying experience. Financing for luxury home purchases is uniquely challenging — it is best to allow your realtor to take the lead. They can help you maneuver through this process and secure the financing you need to close on your new home.
Your real estate expert can also connect you with lenders who specialize in luxury home financing and help you compare interest rates, repayment terms, and other essential factors. Before they agree to take on the risk, lenders want to ensure that you’re the right fit for the transaction. Be prepared to provide documentation of your income and assets. Once you make your home selection, your realtor will levy their invaluable industry knowledge to negotiate favorable terms and interest rates on your behalf.
FINALIZE IMPORTANT DETAILS
Luxury home purchases have additional requirements like private mortgage insurance (PMI), which is not mandatory for standard home sales. Legal conditions are dynamic, but seasoned real estate professionals maintain up-to-date industry knowledge. They will handle the critical details so that you can avoid costly missteps — and even the courtroom.
CLOSE WITH CONFIDENCE
Once you’ve reached an agreement with the seller and secured financing, you are headed for the finish line. For buyers in the luxury market, however, there’s often an extra layer of complexity involved in closing on a home. Fortunately, your realtor will also take most of this process off your plate and provide support when you need to be included.
As the final step in buying a luxury home, the closing can be exciting and nerve-wracking. But with a bit of preparation, you can close with confidence. Here are a few things to keep in mind as you approach closing day:
- Review all documents carefully — this is a final sale, so don’t hesitate to ask your real estate agent any outstanding questions. Review the terms with a fine-tooth comb before you sign anything.
- Make sure you have adequate funding — have your financing in order and confirm that you have the funds needed to close.
- Have realistic expectations — closing is not instantaneous, especially for luxury sales, so be prepared for it to take some time.
- Be prepared – while everything should be finalized before closing day, there is always a possibility of last-minute changes, so try to be flexible.
LET’S GET STARTED
Luxury real estate agent Brandon Carney of Carney Realty Group specializes in high-end real estate and has a team of experienced agents who know the Virginia Beach market inside and out. When you partner with us, we will work tirelessly to find you the perfect home.
Carney Realty Group understands buying a luxury home is a significant investment. We will do everything possible to ensure you are happy with your final purchase. If you are interested in working with us, please reach out!
*Header photo courtesy of Brandon Carney
