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Saturday, March 17, 2018

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Lake Martin News

Buying a Luxury Lake Martin Home

If you’ve always dreamed of owning real estate on Lake Martin, make 2018 the year that your dreams come true! Our Lake Martin real estate team is here to help you accomplish your home-buying goals this year. We specialize in luxury real estate on Lake Martin, and we’d be happy to answer any questions you may have.

If you’re new to the luxury real estate scene, allow us to fill you in on what you should know about buying a luxury home. While many factors are the same as buying any home, there are a few differences that are important to note.

Loans – While many luxury buyers can afford to pay cash for Lake Martin homes, not all can. If you need to obtain a jumbo mortgage loan, these tend to take longer than standard loans and may require a higher down payment. Talk to a mortgage lender, and if you qualify, get the ball rolling on getting pre-approved for a loan. Most luxury sellers will require this!

Agents – When it comes to searching for a Lake Martin luxury home, you may find that not all luxury homes are listed on the MLS and public sites. You often have to go through an agent to find all of the homes available. Plus, an experienced agent who works with local luxury real estate will know what other homes sold for in the area, and can help you negotiate based on many factors. Don’t try to go it alone, contact The Haynie Team for help!

Home – Know what you want from a Lake Martin home before you begin your home search, to better prepare you and save you time! It’s easy to get swept up in the glamour of lake homes, and we don’t want you to make a home-buying decision that you may later regret, because the home was really too much for you to afford, it’s too much work to maintain and so on. Determine what lake features are most important to you, what home features you absolutely need, and what features would be nice, but not necessary.

Appraisals – Whether you’re paying with cash or a loan, it’s wise to have a luxury home appraised. There is so much variety and originality with luxury real estate, it’s not always easy to find comparable homes. Therefore, the appraisal process could take longer, and sometimes two may be necessary for a loan. Home inspections also tend to take longer, especially if the house is larger than average or has high-end features to look into. Be prepared to be patient!

These tips are just the tip of the iceberg when it comes to buying a Lake Martin home. The Haynie Team is here to help you through the home-buying process, so your experience ends with you having keys in your hand to the lake home of your dreams! If you have questions, or you’re ready to get started, contact us!

Becky Haynie, Associate Broker / Realtor
Lake Martin Realty

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