So you’ve decided to invest in real estate because it’s one of the safest investments you can make. And you’re thinking of purchasing a second home to use as a vacation rental, but you’re not exactly sure about where it should be.
You’re looking for a place that has good weather and is known as a popular vacation destination. Well, look no further than Palm Springs, California, an oasis in the Sonoran Desert.
Excellent Year-Round Weather
One of the great things about Palm Springs is the weather. It’s never too hot and muggy or too cold and icy because it’s in the desert.
Of course, since the city’s in the desert, it does get hot, but it’s a dry, manageable heat, so even if it’s 100 degrees, you won’t have that swampy feeling you get with high humidity.
And if you’re ever longing for cooler weather, the nights cool off nicely in the city.
Another great aspect of Palm Springs’s weather is the abundance of sunshine year-round. With an average of 350 sunny days a year, the city is literally bathed in sunlight.
In fact, it rarely rains in Palm Springs. And the January high in the city is about 70 degrees. All in all, it sounds like the perfect spot for a vacation.
Home Prices Are Reasonable—for California
The average price of a home in Palm Springs is about $600,000. Suppose that sounds like a lot just consider that the average prices of homes in Los Angels and San Francisco are $920,000 and $1,500,000, respectively.
This makes Palm Springs a bit of a bargain by California standards and a good place to invest in a rental property.
Still, if you’re looking for something a little less pricey, Palm Desert might serve as a good alternative to Palm Springs.
Palm Desert is a city of about 50,000 people located just 12 miles southeast of Palm Springs. The average cost of a home in Palm Desert is about $500,000, so you’d get many of the benefits of Palm Springs at a lesser price.
The Quality of Life Is Good
As can be expected from a city with a population of around 45,000, life in Palm Springs is fairly slow and easy-going. The downtown area is compact and walkable, with interesting art galleries and museums.
There are also plenty of upscale shops and eateries in the downtown area, along with bars that come alive at night with live music and entertainment.
Palm Springs is also a great place for those who enjoy an outdoor lifestyle. With ample golf courses, tennis courts, and bike trails, there’s a little something for everyone.
And because the sun is typically shining, it’s always a great time to get outside and enjoy the weather.
Close Proximity to L.A. and Vegas
If you ever feel like you want to experience Los Angeles without actually staying there, the City of Angels is just a two-and-a-half-hour drive from Palm Springs.
Although there’s plenty to do in Palm Springs, it can be nice to get away to the big city to take advantage of sporting and cultural events that aren’t available in a smaller city.
Palm Springs is also a four-hour drive to Las Vegas. Again, sometimes it’s nice to get away to a bigger city for the bright lights and excitement.
In the case of Vegas, it would likely be the gambling or the world-class entertainment that attracts you. Still, for what’s it’s worth, Palm Springs has plenty of diversions to keep you occupied.
Beautiful Architecture and Scenery
Another great thing about living in Palm Springs is being surrounded by beautiful mid-century modern architecture. Actually, Palm Springs has the most structures of this type of architecture on the planet.
Mid-century modern architecture is known for its straight lines, subtle curves, and lack of showiness. Large windows and open floor plans are also characteristic of the style.
Combine the beauty of the architecture with the scenic mountain views and palm trees, and you’ve got an oasis in the desert.
Palm Springs lies in the Coachella Valley at the foot of Mount San Jacinto, which serves as an awesome backdrop.
Coachella Valley Music and Arts Festival
You’ve probably heard of the massive music festival in the Colorado Desert known simply as Coachella. Well, it’s actually held in a town called Indio, which is about 25 miles from Palm Springs.
And it’s not uncommon for people to stay in Palm Springs and simply make the 30-minute drive to the festival.
The Coachella festival is held at the Empire Polo Club and is known to attract some of the biggest names in the music industry. This is yet another reason for tourists to flock to Palm Spring and for you to own a rental property there.
Owning real estate is always a good idea. Owning real estate in Palm Springs is an even better idea.
Due to the fact that the city enjoys nice weather year-round, is affordable by California standards, and is in close proximity to Los Angeles and Las Vegas, it’s clearly an ideal location for an investment rental.
Considering all the benefits of Palm Springs, you may even decide to make it your home.