Indian Wells is home to some of the finest luxury properties in America, and it’s no surprise that the desert oasis continues to attract prospective residents from far and wide. If you’re thinking about settling in Indian Wells, we can only tell you that it’s one of the best decisions you’ll ever make. The city’s charm and allure are second to none, and you’ll enjoy awesome recreational activities all through the year. But let’s not get ahead of ourselves here. You’re probably going to start your journey by researching luxury properties in Indian Wells, CA, and one of the questions that’ll keep popping up is whether you should buy or rent the home.
Pros of buying a luxury home
More options for buyers
As veterans in the real estate market, we’ll tell you that people looking to buy luxury homes typically have more options than those looking to rent. If you plan to buy, you can carefully assess your options before arriving at a decision, and you’re more likely to get a property that perfectly suits your taste. Such wealth of options may not be available to people who wish to rent.
Expand your network
Luxury properties are typically located in classy and serene neighborhoods. By buying a home there, you’ll be expanding your network to include more uber-successful people, and you’ll also enjoy some amazing extras you’d never get from regular neighborhoods.
High resale value
Luxury homes give much better returns on your investment. If you maintain the home properly, you’ll get mouthwatering offers if you eventually put it up for sale. The only drawback here is that the buying cycle for luxury homes for sale in Indian Wells, California, is typically longer than regular homes. But more often than not, it’s always worth the wait.
Increase your net worth
Owning a luxury home increases your net worth and status. If you operate in an industry where appearance matter, there aren’t too many better ways to make a statement than buying a luxury home.
Pros of renting a luxury property
Enjoy luxury without breaking the bank
The down payment, cost of moving, and all other costs associated with renting a home are usually lesser than what you’ll have to pay if you wish to buy. Moreover, you won’t be saddled with a heavy debt if you rent the home instead of buy.
You don’t have to worry about maintenance
Maintaining luxury properties can be highly cost-intensive. If you feel the expense will be too much to bear, you should consider renting. When you rent, you can enjoy all the available high-end amenities while the maintenance burden remains the owner’s or property manager’s responsibility.
Pay less on homeowners’ insurance
It’s no news that the premiums for homeowners’ insurance on luxury homes can be pretty steep. If you cannot comfortably afford such high monthly payments with your current financial status, you might be better off renting than buying a luxury home.
The bottom line
Ultimately, the better choice between renting and buying hinges on a host of factors, including but not limited to your financial status, nature of the market, and future plans.
If you’re interested in renting or buying luxury homes for sale in California, our expert realtors a Grand Luxury Properties are just a call away. Contact Bob Ross: 760-409-1595 or Sue Ellen Ross: 760-612-7236 of Grand Luxury Properties for the best Indian Wells communities and luxury listings