Are you shopping for luxury real estate in Denver?
With the right strategy, you can find your dream home and secure the best deal.
Right now, the Denver luxury home market is experiencing a unique moment of opportunity for buyers. Homes priced over $1M, both attached and detached, are seeing longer days on market and increased inventory levels. If you’re in the market for a luxury home, this means you have more time to find the perfect property and more flexibility when it comes to negotiating the terms of your purchase.
This is especially true for homes in the $2M+ price range. In this segment, there’s an abundance of available homes, and fewer buyers competing for them. It’s officially a buyer’s market in this range, which gives you significant negotiating power. You can explore multiple options, ask for concessions, and negotiate a better price.
For veterans, navigating the luxury market can be a bit different. While you may already be familiar with using VA loans for traditional home purchases, the luxury market often requires a different approach. Many veterans are unaware that VA loans can still be used in some high-end transactions, especially with properties closer to the $1M+ mark.
As a veteran, you’ve already earned some important benefits that can help in the home buying process, such as reduced closing costs, potential property tax exemptions, and more favorable loan terms. It’s essential to work with a Realtor who understands the unique benefits available to you and can guide you in leveraging them effectively.
Here are some tips to help you navigate the Denver luxury market and make the most of your buying power:
Know Your Priorities
Whether you’re buying a home in Arvada or the broader Denver Metro area, it’s important to know what you want before you start touring homes. Are you looking for modern amenities, such as smart home technology and eco-friendly features, or do you prefer classic architecture and a large outdoor space? Clarifying your must-haves will help you focus on properties that truly meet your needs.
Take Your Time
With months of inventory available, buyers have some breathing room. Unlike the lower price points in Denver’s housing market, where homes are snapped up quickly, luxury buyers have the luxury of time. Use this to your advantage by thoroughly researching each property, visiting multiple homes, and weighing your options carefully.
Leverage Negotiating Power
In a balanced market, you can negotiate more than just the purchase price. Consider asking for seller concessions, extended closing periods, or contingencies that protect your interests. For example, you might request that the seller include high-end furnishings or cover a portion of closing costs.
We also work closely with our clients to understand their lifestyle and long-term goals. Whether you’re looking for a primary residence, a vacation home, or an investment property, we’ll help you find the right property at the right price.
Contact us today if you’re ready to take advantage of this buyer’s market.
With the right approach, buying a luxury home in Denver can be a smooth and rewarding process. The current market conditions are in your favor, and with a bit of preparation, you can secure a fantastic deal on your dream home.
If you are looking for daily insight and tips on today’s market, follow Lauryn Dempsey on LinkedIn. If Lauryn can help you strategize your next steps in real estate in the Denver Metro Area or elsewhere across the U.S., please book a call!