Buying a property is a huge financial commitment that requires research and preparation. To make a well-informed purchasing decision and become the homeowner of a property that’s perfect for you, thorough introspection is required on behalf of buyers. Most people looking to purchase real estate have a list of their wants and a list of their must-haves in the back of their minds to guide them through their home search. These must-haves, commonly referred to as non-negotiables, are the cornerstone of the search, as they generally indicate whether or not a buyer will choose to make an offer on a listing. Due to the high price tag attached to luxury properties, knowing what your non-negotiables are is even more crucial to prevent buyer’s remorse down the line.
As an expert on the New York City luxury real estate market, Anil Jintoorkar has matched countless buyers with high-end properties that possess all the qualities and features they desire. To help you choose your must-haves during your home search, he’s outlined all the best ways to determine your non-negotiables when purchasing a luxury home.
Consider your needs
When planning to buy a luxury property, the first step in determining your non-negotiables is considering your needs. While some features of a home may be nice to have, other aspects are absolutely crucial and cannot be compromised on. The amount of bedrooms or bathrooms needed to accommodate everyone in the household, for example, is an area with little flexibility. Other factors to consider are the amount of storage space required or spaces in the home that are used on a regular basis. For homeowners with pets or young children, a backyard play area may be crucial to living comfortably.
Many buyers choose to purchase a property that meets many of their needs already with the intention of renovating the rest of the home in the future to customize it to their liking. If this is an option you’re considering, you may want to include the ability to build additional rooms onto the home or redesign its intentional layout to your non-negotiable list. Be sure to check that you will be able to receive the proper building and renovation permits in advance to avoid the disappointment of finding out you can’t renovate how you want later on.
Evaluate your habits
Once you’ve considered your needs in a property, it’s time to evaluate your habits to get a clearer picture of what your non-negotiables include. Many people work remotely and need adequate office space, so if you find yourself working from home many days out of the month, you may want to include a home office in your list of non-negotiables. Other areas to consider are a workout room for gym equipment, a dedicated play area for children, a large garage or shed area for tools, or a wine cellar for collectors. Go over your daily routine and pay attention to which activities you spend the most time doing.
Think about your lifestyle
You want your luxury property to be a good fit for your daily life, so take the time to think about your lifestyle after you’ve considered your needs and evaluated your habits to further determine your non-negotiables during your home search. If one of your favorite things to do after a long day at work is to take a relaxing bath in the tub, a large ensuite in the master bedroom may not be a space you can do without. When considering your lifestyle, pay close attention to the location of the property as well as how it fits in with your regular schedule. If you have children that you enjoy walking with to school, you may want to limit your search radius to a mile or two from the school. Ongoing appointments with doctors, the commute time to work, and the proximity to friends and relatives are also important factors.
Find a real estate agent
Teaming up with a qualified real estate agent in your neighborhood is the best strategy for finding a property that doesn’t compromise on any of your non-negotiables. Real estate agents are experts on the communities they serve and know all the ins and outs of the housing market, providing them with a full picture of what homes are available for purchase. They are also often the first to hear about new homes that are about to hit the market and usually have insight into properties that aren’t even being advertised, known as pocket listings, which can be quite common in luxury real estate. By finding a realtor to work with, you’ll be able to explain your needs, your habits, and your lifestyle in detail so they can search through listings and take you to properties that possess exactly what you’re looking for.
When buying a luxury property, never settle for anything less than a home you truly love. Due to the substantial investment you’re making, you want to ensure you’re purchasing a place that suits all your needs and matches your desires. To determine your non-negotiables, be sure to thoroughly consider your current and future needs, evaluate your daily habits, and think about what features a home must possess to be a good fit for your overall lifestyle. Working with a real estate agent is highly recommended due to their knowledge of your local housing market and ability to identify properties that contain what you’re looking for.
If you’re looking at New York City luxury homes to purchase and are seeking professional guidance, Anil Jintoorkar can happily assist in your search. With extensive insight into the city’s property selection, including an abundance of luxurious coop, condo, and condop homes in highly desirable neighborhoods, he knows all the hottest listings on the real estate market. He can help you find a beautiful property you’ll love for years to come.
