Palm Springs is a resort escape known for its sunny year-round warm weather—even when winter is blanketing the rest of the U.S. in snow. Palm Springs has become a hub for modern architecture, with some of the best mid-century built by modern architects. There is an abundance of hiking that can be done in Palm Springs, as well as golf courses, racquet clubs, and natural high-desert beauty. Palm Springs is a hot place to buy a home anytime, though it isn't as easy as you'd think. You may have to navigate land leases, HOA requirements, and some stiff competition from other buyers who are set on purchasing your picture-perfect property. Whether you are interested in setting up a vacation home as your primary home for your family or settling into an active retirement, you are about to find out the pros of the best deals on your desert dream home.
Continue to read to find all you need to know about Palm Springs and investing in buying a home in this sunny paradise.
Financing Your Home in Coachella Valley
The beautiful modern homes in Palm Springs don’t come cheap, as the median price for a house is $723,750. If it’s condominium living you are in search of, plan to spend less, with a median price of $270,000. The reason for these steep starting price points? A shortage of homes for sale. However, don’t lose hope of buying your desert dream home. The following is a set of four tips to avoid overpaying:
Offer to pay cash.
For the seller to know the deal is done sooner, shorten contingency periods.
So the seller can pay less in monthly fees, and shorten escrow periods.
Skip the appraisal if you are offering to pay with cash.
Desert Style in Palm Springs
A huge draw to living in Palm Springs is the mid-century modern aesthetic. There is nothing better than the clean lines and natural finishes to provide a dramatic backdrop for pops of vibrant colors. Homes are abundant in the mid-century modern style hailing from the old days of black-and-white movie stars who built their homes in Palm Springs, as it was a 2-hour commute from the studios. For potential buyers in search of something more low-maintenance, Palm Springs is home to several condominium developers that provide a strong sense of community, security, and minimal upkeep thanks to the maintenance done by COAs (aka Condo Owners Association).
Floods and High Winds
Sellers are often required in the state of California to provide buyers with a natural hazard disclosure report. This type of report will tell you if the home is within an earthquake zone, fire hazard zone, high wind zone, or flood zone. When living in Palm Springs, the two hazards to watch out for are flood zones and high wind zones. For example, if the house you are interested in buying happens to be adjacent to the mountains, you have to be aware of runoff and potential flooding. The northernmost part of the city is home to many stunning neighborhoods and houses, but it is susceptible to high winds.
Request a Home Inspection
Living in Palm Springs means certain issues may arise with your home that are prevalent due to the desert climate. The weather has dramatic highs and lows, and you may have issues with your HVAC system. Hiring a home inspector who specializes in thermal readings may be a good option as they can detect leaks in air ducts, and any excessive moisture in the house. Due to the blazing heat during the summer, roofing materials may have issues. Having a home inspector who uses aerial drones can allow a close look at obvious damage to the roof, and it prevents further damage from walking on them. However, we always suggest a general inspection, as they will catch most of the issues.
Investing in Patios and Yards as Improvement Zones
The weather is typically wonderful year-round in Palm Springs, and outdoor living is part of the reason tourists and potential buyers are attracted to the area. A popular feature to many homes is a detached casita, or mother-in-law-suite, an extra bedroom self-contained as a smaller separate structure on your lot that typically has its own entrance, bathroom, and additional bedroom for the use of guests or family.
HOAs in Palm Springs
More than half of the homes in Palm Springs are subject to HOAs. When you plan on investing in a home, it is important to make sure you pay attention to whether that house is in an HOA area, or not, as well as what amenities come along with it. HOAs typically restrict what you can do to the house you buy, such as what you do to the exterior of your home, including paint colors, building extensions, exterior walls, and landscaping. Outside of HOA, the only thing you may run into having to deal with is city regulations, this often just includes heights, which are restricted in most cases.
Resort-Living Landscape
The neighborhoods in Palm Springs are easy to identify as many have been lived in, or are currently lived in, by celebrities. These are a few communities in Palm Springs worth noting:
- The Movie Colony neighborhood has a rich history in its role in old Hollywood. This community houses the Twin Palms area, full of mid-century modern homes. Events are held in Movie Colony East, as each December, visitors of the Robolights Sculpture Garden and light show number in the tens of thousands.
- El Rancho Vista Estates is littered with historic homes adjacent to downtown— Palm Springs’ center of upscale dining, boutiques, and cultural attractions, such as the Palm Springs Art Museum and the Palm Springs Walk of Stars.
- The Tahquitz River Estates neighborhood has a convenient location next door to the Mesquite Golf and Country Club. This architecturally diverse area is known best for its laid-back village vibe, sporting an abundance of restaurants and eclectic vintage shops.
Interested in the allure of Palm Springs, CA, and the luxury that awaits you? From stunning modern mid-century builds in luxury neighborhoods to city amenities galore, you will find no shortage of perfection calling Palm Springs your home. Explore the sunny disposition of Palm Springs today.