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    Dreaming of a Luxury Home? Now’s the Time!

    If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! Recently, the Institute for Luxury Home Marketing released its Luxury Market Report which showed that in today’s premium home market, buyers are in control.

    The inventory of homes for sale in the luxury market far exceeds the number of people searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer or can be found at a discount.

    Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call their house their new home.

    The sale of your starter or trade-up house will help you come up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.

    But not all who are buying luxury properties have a home to sell first.

    A recent Bloomberg article gave some insight into what many millennials are choosing to do:

    “A new generation of affluent homebuyers powered by a surge in inherited wealth is driving the luxury-home market, demanding larger spaces and fancier finishes, according to a report heralding ‘the rise of the new aristocracy.’”

    Bottom Line

    The best time to sell anything is when demand is high, and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a luxury home, now’s the time to list your house for sale and make your dreams come true.

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    Shalini Schetty

    Shalini Schetty is an elite Licensed Real Estate Sales Person and a Trusted Real Estate Advisor at Berkshire Hathaway Home Services Laffey International Realty in Huntington, NY. Shalini is one of the top-producing licensed Real Estate Sales Agents in the area. After obtaining an MBA and pursuing a successful career in finance at JP Morgan in Manhattan, Shalini decided to leverage her international experience (with extensive ties to Asia and India), business background, and love of real estate to start a career in real estate. As a real estate professional for over eighteen years, Shalini consistently delivers outstanding results for her clients.

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