HGTV's David Bromstad talks luxury real estate and dream homes
David Bromstad, host of HGTV's 'My Lottery Dream Home', has one of the coolest jobs in the world.
David gets to turn fantasies into reality every day as he takes recent lottery winners on over-the-top house hunts for their dream homes. He shows the lucky winners a full range of houses before they jump headfirst into the luxury real estate market, all while giving insider tips on how to budget and plan for a future with their new funds.
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David told AOL what it's like being a part of a recent winner's incredible journey, revealed the most popular and extravagant purchases on the show, and shared the details of his own personal 'dream home'.
Check out our full conversation with David Bromstad in the slideshow below:
David also gave insight into the best ways to begin the process of purchasing a luxury home. Check out his 5 tips here:
1. Do your research: Check out the market online to get an idea of what you do and do not want. Realty companies get the majority of their business through the Internet.
2. Get a qualified broker: Find the broker who is doing the most sales in luxury real estate in your desired location. Then, let that person find houses for you and show you the best value in town.
3. Get a pre-approval record: Everyone should have a pre-approval letter. Remember that a letter from the bank doesn't ensure you'll be approved for a mortgage, but it puts the seller's mind at ease if they take their home off the market to go under contract with you.
4. Be ready to divulge details about yourself: Be prepared to be asked a few appropriate questions about what you do for a living, and other assets they have that would help qualify you to purchase a luxury home. Some sellers require a letter from an accountant and a bank statement to show that a potential buyer is qualified to purchase their home and as a proof of down payment.
5. Take a mortgage: Taking a mortgage is wise when you're going to have the house for a while. Paying cash is great when you are flipping the house.
'My Lottery Dream Home' airs Fridays at 11pm ET/PT on HGTV.
RELATED: See photos of David Bromstad
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