Beverly Hills real estate offers private mansions, large estates, and mid-century modern marvels that are the pinnacle of elegance and luxury. As such, it is unsurprising why the rich and famous have lived in this opulent neighborhood for many years. Today, its star-studded hills are home to tech professionals, successful entrepreneurs, and young families, lured to its exclusive environment and thriving dining and shopping scene. If you are looking forward to calling Beverly Hills home, here are some key considerations before closing on a property.
Time Your Purchase
After 3 years of extraordinary demand and skyrocketing housing prices, the post-pandemic California real estate market will likely cool slightly. However, the Beverly Hills luxury real estate market will stay hot, even if it does not experience the same double-digit growth experienced in recent years.
Buyers will face intense competition as inventory remains limited. Therefore, you should watch listings and talk with a realtor familiar with the local market so you do not lose out on the chance to find your dream home.
Define Your Expectations
Beverly Hills real estate features everything, from sprawling estates to tiny mid-century homes or luxury condominiums, and anything in between. Prioritize what you desire in a house and determine how much you can afford.
Keep your expectations reasonable and evaluate which home characteristics are most important. Do you want entertaining rooms, expansive views, or a secluded retreat? Carefully assess what is most important for you and your family, and talk to a Beverly Hills real estate agent who can link you with available homes for sale that match your criteria.
Brace for a Seller’s Market
Even though the national real estate market is stabilizing, finding a property in Beverly Hills will still be difficult. Bidding wars are quite common, driving property values up. If you want an edge in this hot market, you must do your due diligence and prepare yourself accordingly.
Make Your Offer the Best Offer
Buyers wishing to find a property in this constantly tight market must distinguish themselves from the competition. However, unlike common belief, this does not always imply being the highest bidder.
There are other smart ways to make your offer appealing. For instance, you can make a no-contingency offer, have a solid earnest money deposit, personalize your offer, go above the asking price, pay cash, or have a pre-approved loan.
Get to Know the Area
Located near West Hollywood and Hollywood Hills, Beverly Hills is home to millionaires, the wealthy elite, and celebrities. It is undeniably the most popular ZIP code in America. Expansive private estates in the area can fetch hundreds of millions of dollars, but the median home price is roughly $4 million.
Irrespective of your price range, buying a home in Beverly Hills means you are joining an exclusive club of people and enjoying access to the country’s most luxurious amenities. So, getting to know the neighborhood and even interacting with the locals is important to learn what it is like living in Beverly Hills.
Explore Beverly Hills Real Estate with Jade Mills
Are you ready to join the exclusive community of Beverly Hills? Your first step should be to consult a knowledgeable realtor like Jade Mills. With more than $8 Billion in real estate sales, Jade has created a reputation for exceptional professionalism and client satisfaction. Jade Mills understands the complexities of the Beverly Hills luxury real estate market and can help you locate the perfect home for your needs. Reach out right away for professional guidance on your upcoming real estate purchase.