Desert Condominiums can also be Investment properties. Kimberley Kelly, with HK Lane/Christie’s International states that although Condos aren’t the lifestyle for everyone, they sure do have their advantages! Condominiums typically have higher HOA dues, and that often scares potential home buyers off. Be sure to examine these dues carefully. Often, by the time you get done paying monthly for all that the HOA covers, it’s a break even situation, but you save yourself the headaches! Condo developments range from older condos in the heart of Palm Springs, Rancho Mirage, Palm Desert and Indian Wells to brand new Developments. Ultra modern developments are springing up in Palm Springs to the West and La Quinta to the East. If you’d like to schedule a tour of investment Condominiums, give Kim Kelly a call at 760-285-3578.
PGA West in La Quinta offers a huge array of Condominiums. Small Condos like 54475 Tanglewood for $249,000, are a really sweet deal. Offering 1400+ sf., 2 bedrooms, 2.5 bathrooms, an interior laundry room and a detached 2 car garage. This Condo even features stellar mountain/waterfall views, and walking proximity to a heated lap pool. The sellers use this Condo as an investment by renting it out themselves. They are relocating, however, and ready to let it go. TURNKEY FURNISHED. HOA dues are $530/month and include everything. Roof, exterior maintenance, Community guard, pools, landscape, and Insurance. Condos at PGA run up to approx. $800,000.
Indian Wells CC has some fantastic Condominium opportunities. Many of the Condos were built in the 1960’s and 70’s, and have been remodeled in the Modern style that is so popular in our desert cities. Prices range from approx. $350,000 – approx. $500,000. Desert Horizons CC, also in Indian Wells, is famous for it’s amazing Condos with prices ranging from approx. $350,000 to approx. $800,000.
Palm Desert offers many Condominium options in reasonable prices. Up 74, are several developments, and there is the incredible Sandpiper, featuring William Kreisel post and Beam Moderns. HOA’s here are about $500/month, with Condos starting at approx. $500,000, and you are walking distance to El Paseo. Palm Springs has many Condos, with high rentability, in every price range, and date you can imagine!
The most important thing to do is always read your CC&R’s, and study the Reserves BEFORE you decide to close on your Condo! KNOW who the board is, when they meet, and exactly what your monthly dues cover. What is the Vacancy rate? Are the developments at least 50% owner occupied, which makes a difference when you go to sell your Condo. down the road! Check with a local Lender to see if financing is available, and if not….why not??? Condos can be a relief if you want to Lock-n-Leave, and also have very high Rentability for seasonal and local events. Just do your homework by working with a local, and knowledgeable Realtor. Study up BEFORE you jump in, and you’ll be able to enjoy your winter dream Condominium. Watch this short video on getting your credit up to par for a Loan..