Are you interested in upgrading your home? Being able to finally find the home of your dreams can be very exciting. However, the process of obtaining it can be a little daunting. With a little research and preparation, you can help ensure that moving to your dream home is as painless as possible.
How to Find the Best Luxury Home
First, you’ll need to work with an expert realtor who has many years of experience and connections. These types of realtors tend to know when luxury homes are on sale since these houses may not be listed to protect the seller’s privacy.
You’ll also want to search online at multiple sources and not merely at the most popular websites. Additionally, do not base a luxury home solely on the photos and be sure to visit the house and location to determine if it is the right purchase for you. Be sure to work with a local expert realtor who knows plenty about the neighborhoods you’re interested in.
How to Finance and Obtain a Mortgage for a Luxury Home
Luxury homes tend to cost at least $500,000 in total, but this depends on the region you live in across the United States. Luxury mortgages are somewhat different than mortgages for non-luxury homes.
If you borrow more than $424,100 as a mortgage loan, you’ll find that these jumbo loans are not backed by government sponsors such as FannieMae (FNMA) and FreddieMac (FHLMC). This means there is higher risk for banks that give out this type of loan. This means interest rates are higher for jumbo mortgage loans. This also leads to closing being longer with some closings as long as 60 days.
You should be able to borrow a loan of as much as 75% to 80% of the property value. This means you’ll need to put down a deposit of anywhere from 20% to 25% of the property value.
Changing Your New Address for All Relevant Resources and Utilities
When you have bought your new luxury home and are getting near closing day, you’ll need to make sure to change your new address for all new utilities and other relevant resources.
This means you’ll need to go on the UPS website page to update your address so that your mail is sent to the right location. You’ll need to update your address with your bank and credit card accounts as well as your car insurance company and vehicle registration.
You’ll need to get a new driver’s license with your new address. Lastly, all of your utilities such as electric, Internet or cable, and gas will need to be updated at your new luxury home.
How to Pack for Your Move
There are multiple steps you’ll need to follow when packing for your move to your new luxury home. First, it is helpful to declutter your rooms before you move. Any extra items can be donated, sold, or trashed depending on the quality of each artifact.
Additionally, make an area in your home that the movers are not to touch when packing the moving truck. You’ll want to move certain things yourself such as expensive jewelry, financial documents, or perishables.
Start with packing the rooms with the least number of things and move toward more regularly used rooms like bedrooms and the kitchen. Pack one room before moving on to the next one. When packing dishes and kitchen appliances, do so carefully. Use extra paper as well as cloth or towels to wrap up these perishables. These tips will ensure you successfully pack for your move.
How to Hire the Best Professionals to Help You Move
When searching for the best professional movers to help you move into your new home, you can ask your realtor for his or her advice. You’ll want to check how long the company has been in business, whether the moving company is licensed and insured, and how positive their reviews are online.