Likewise, when owners list Palm Springs homes for sale, often times, they are thrilled to discover that the neighborhood itself boosts their asking price. Studies have shown that home values rise significantly in historic districts, from between 5 and 30 percent per decade. While the posh areas of Coachella Valley offer a wide-ranging selection, from modern options in Palm Desert and La Quinta real estate properties to the country club vibe found in Indian Wells real estate, some find that living in a neighborhood where Marilyn Monroe, Frank Sinatra or Cary Grant once resided holds a special allure.
When a neighborhood is designated as historic, it help ensure that your real estate investment will be protected over time, as there are explicit design limits on demolitions and exterior remodeling that doesn’t fit in with the character of the neighborhood. The goal of the historic designation is to foster an improved image of the community; this extends to protecting the area against specific threats of development that are not in line with this image, while encouraging reinvestment and development that is cohesive with the community as a whole.
When there is reinvestment and positive development in any area, whether it’s among Indian Wells real estate or a historic neighborhood in Palm Springs, this can only have a positive effect on the cumulative value of the properties in the area. So while you may not be searching for a historic designation, make sure to assess the neighborhood as a whole when you’re buying a new property.