Are you thinking about purchasing a property in beautiful Palm Springs? Life in Palm Springs has so many incredible benefits, from the amazing architecture to the abundance of fun, family-friendly activities. With a phenomenal climate, stunning mountain vistas, and gorgeous tree-lined sidewalks and streets, Palm Springs feels like a paradise.
Here are the top things to consider before deciding whether to invest in Palm Springs real estate.
Growing market in Palm Springs
More interest in investing
Palm Springs, in particular, holds an advantage over other locations when it comes to real estate investments due to the incredible year-round climate and the low property prices. Who wouldn’t want to buy and own a Palm Springs condo with a private pool, one of the best places to vacation in California?
Palm Springs is away from the buzz of the city
Are you interested in Palm Springs condos for sale? A new trend in real estate is the desire to move away from the hustle and bustle of the big city. Many homeowners are now choosing to purchase property in rural or suburban locations and migrating away from the busy city life.
Californians, in particular, are relocating to the stunning desert and places like Palm Springs. Since more and more people are able to work remotely, workers from areas such as Silicon Valley and Los Angeles are choosing places like Palm Springs for a more peaceful oasis.
Palm Springs offers mid-century modern homes
Palm Springs features some of the most beautiful mid-century modern homes in the state. Palm Springs stands out as an incredible real estate location for a reason, and these charming homes offer the Palm Springs community a sense of flair and old-world glamor. The mid-century modern homes come in a wide range of different sizes and shapes, so there are options to suit a wide range of style preferences.
The mid-century modern home look is sleek, angular, and distinctive, with large open garages, flat or sloped roofs, and splashes of color for added interest. Palm Springs mid-century modern homes, in particular, offer deep sparkling pools, spacious pergolas, tennis courts, and beautiful patios.
Best days of the year to purchase
On the flip side, the housing inventory tends to be at its peak in the spring and summer, namely May through July, when most sellers list their properties and most sales occur. This means that if you’re hoping to view a wide variety of properties, searching for real estate during the warmer months may be your best bet. Looking for homes during this time may lead you to find the right home more quickly, as you’ll have more options. However, keep in mind that you’ll likely have to compete with more buyers who are looking at the same properties. Homes are typically priced higher during this time as well, as sellers anticipate bidding wars and increased buyer interest.
For a good balance between the inventory level, pricing, and competition, late summer or early fall may be a good place to start. Look at homes in late August, September, October, or November to find a decent inventory level, fair prices, and a moderate amount of competition.
That being said, no matter the month, if you find a home that you really love, you should go for it. In Palm Springs, homes tend to go fast, so don’t miss out on a property you just can’t live without.
Airbnb is legal in Palm Springs
Airbnb is one of the top apps for booking short-term vacation and home rentals at nearly any price point. The app was originally meant for budget travelers looking to stay somewhere for less money than a hotel, but the site now provides a wide range of home rental options at higher price points with luxury add-ons such as concierge services and personal chefs.
If you choose to invest in Palm Springs real estate, you can take advantage of the legality of Airbnb in the area and rent out your home to luxury Airbnb travelers. Just be sure you look into the regulations and operating requirements, such as permits, to make sure that you’re operating your Airbnb listing according to the rules.