Texas has become a hot spot for relocation these past few years, and for a good reason: the weather is warm, the job industry is booming, the cost of living is reasonable, and housing prices are more affordable than in many other parts of the country.
It’s no wonder why everyone wants to move to Texas, and locals want to stay here to raise their families and retire.
What is Texas Luxury Real Estate?
Luxury real estate refers to homes that have luxe features and amenities, such as a prime location, large square footage, expert design, and high-end appliances and finishes. Luxury homes are typically valued within the top 10% of the local market.
If you’re looking to buy a luxury home, it doesn’t get much better than in Texas.
The Lone Star State offers many beautiful landscapes, ranging from deserts and beaches to majestic canyons and picturesque lakefronts. Texas is more than the wild west: we have some of the best waterfront mansions, modern condos, and luxe ranches you will find in the US.
Dallas, in particular, is home to family-friendly and upscale suburbs, home to gorgeous villas and mansions with high ceilings and spacious wine cellars.
5 Tips for Buying a Luxury Home in Texas
Are you interested in buying a luxury home in Texas? Here are 5 Tips to help you invest in Texas luxury real estate!
1. Know the Area
No matter whether you’re looking at starter homes or luxury homes in Texas, one thing remains the same: location is everything. You can make many changes to the home’s design and physical layout, but the location and community are another matter entirely.
Carefully research the area of homes you have an eye on. Get a feel for the community and commute times. Also, conduct research for neighboring properties and plans/permit applications. Your dream luxury home may have an empty field behind it now, but what if that property sells in a year to a condominium developer?
If your luxury Texas dream home is in an HOA community, ensure you understand and agree to any community guidelines before starting the home-buying process.
2. Find the Right Agent
Working with the right agent is key to buying a luxury home in Texas. Your agent should be an expert in the local community and have a track record of buying and selling luxury homes in the area.
Find a realtor that you trust, as he or she will help guide you through the entire buying process. From the initial search process to putting in an offer and beyond, your real estate agent is the key to a successful closing.
The right real estate agent can help you
- Learn the local luxury market
- Understand costs
- Direct you to the best neighborhoods
If you are relocating to Texas, finding a local expert is even more important. A reputable real estate agent can help your target specific neighborhoods and guide you if you cannot be there in person to tour the properties.
3. Learn the Search Process
The search process for buying a luxury home can be different than traditional home buying. Not all luxury homes will be posted in the MLS for privacy reasons. In these cases, the listings are only shown to pre-screened, pre-qualified buyers.
This is where having an experienced agent with connections comes in handy. In cases of “pocket listings,” your realtor can get in contact with other Texas luxury real estate agents to show you available homes that meet your standards.
You cannot buy a luxury home without financial stability, so make sure you know exactly what you can afford before you start your home search. Our mortgage calculator is a useful tool for anyone who plans to take out a loan to purchase a home.
4. Have a List of Priority Features
One thing that separates luxury homes from non-luxury ones is the features and small details. When it comes to luxe features and amenities, even the smallest changes can have a great impact on cost.
It is also important to know what you truly want and need in your next home purchase. Do you value privacy and a large wooded lawn? Do you cook frequently and dream of a gourmet kitchen with a restaurant-quality stove? How about a full-size tennis court?
Luxury homes are a luxury for a reason, and there is no shortage of fancy features. To make your decisions easier, narrow down what you truly want in your next home and go from there.
5. Be Patient
Patience is key to finding any dream home, but it’s especially necessary when it comes to buying a luxury home. Depending on how specific your list of priority features is and how specific you are about neighborhoods, it may take some time to find “the one.”
Find Your Luxury Home in Texas with Davis Real Estate Group
Surrounding yourself with a good team of experts and understanding your own needs will help you close the deal on a luxury home in Texas.
If you’re looking to buy luxury real estate in north Texas, we can help. Nobody knows North Dallas, Texas, better than our team. When you’re ready to start your search, you can view all available listings on our website. Contact us to schedule a showing today!