Canadian investors in Palm Springs

Canadians keep on coming to Palm Springs for real estate investments

 

There are two ways to go if you are thinking investment in Palm Springs and the area

 

The condo option

 

Buy a condo (small villa  with patio, and one common wall at least with the neighbor) in a gated community sharing pools, tennis courts , nice landscaping and that would be rented to “snow birds” as seasonal rental. The home owners association fees could run from $300/month up to $600/month depending if it is  a golf community or not and covering the maintenance of the structure, the roof, the landscaping, the pools , insurance, trash and cable TV. This fee would be additional to the property taxes which are traditionally 1.25% of the selling price. For a 2 bedrooms condo the rent to expect would be $2000 to $5000/month depending on the community and the condition of the unit. The season starts end of December and ends mid May.

 

The free standing home option

 

Or chose to buy a free standing home (with or without a pool) in a gated community or not (all depending on the budget of course) . All the expenses included in the home owners association fees mentioned above  will be at your charge. This home could be rented year around and for a traditional 2 or 3 bedrooms the rent would be $1200 to $1800/month depending on the home



Bookmark & Share

Care to Comment?  Leave a Reply here!

Your email address will not be published. Required fields are marked *