• Welcome to Luxury Palm Beach Real Estate

  • Real estate sales have jumped by 21.9% in the past year. When it comes to real estate, it’s a Wild West out there for both buyers and sellers!

    However, nothing compares to Palm Beach luxury real estate. For both investors and luxury home buyers, it’s the perfect place to be. If you want to make smart investments in real estate, the time is now. 

    That’s why we’ve assembled a guide to Palm Beach real estate to help you make the most of your time and money. Let’s get started!

    Luxuries in The Pandemic 

    When the pandemic first started, the future of Palm Beach Florida real estate was in question. After all, Florida is known to have a population of older citizens who are more vulnerable to the coronavirus. How would they react to the advent of a global pandemic?

    As it turns out, the pandemic transformed Palm Beach into the hottest place to invest your real estate dollars. When you’re confined to the limits of your home, it turns out that you want the best home possible. 

    Mansions with all the amenities and ocean access turned out to be popular for both investors and buyers. People want to be able to get outside safely, get in those ocean views, and keep up that Florida lifestyle even during a pandemic.

    Tax Migrations 

    Florida doesn’t have an income tax. For many years, this has bolstered the population of wealthy retirees. When they close out their careers in northeastern metro centers like New York City, they move to Florida. 

    This trend continued during the pandemic. The wealthy will keep moving to Florida as long as these tax protections remain in place. 

    Of course, there are other states that mimic Florida’s ocean access, sunshine, and breezy coastal lifestyle. But other states, such as California, will take a significant chunk out of your income each year. 

    When Palm Beach Florida real estate is for sale, it goes quickly. That’s because Florida’s population supports wealthy retirees that have money to invest and spend. 

    Prices Will Keep Going Up 

    Palm Beach real estate agents are going door to door, asking if people want to sell. That’s how popular Palm Beach homes are—in fact, it’s the hottest market in the country. 

    Prices for a single-family home are upwards of 11 million dollars. That’s almost a 40% jump from previous years. 

    As populations continue to shift and wealthy investors continue to jump on opportunities in Palm Beach, supply and demand will continue to guide prices. As supply shrinks even more drastically than it already has, prices will spike. 

    Investors are purchasing homes without even looking at them first. It’s a wild market, one that’s rarely been seen before even in this luxury part of Florida. 

    Getting in on investments means having capital at your disposal. But it’s also all about timing. Being in the right place at the right time is everything—and Palm Beach is definitely the right place!

    Palm Beach is For Everyone 

    Palm Beach isn’t just for retirees. Instead, it’s for active adults, adventurous twenty-somethings, and children just learning to embrace the great outdoors. 

    Because of the sunny climate and ocean access, Palm Beach is an investment for everyone. If you enjoy getting outside, participating in events with an active, caring community, or engaging in water sports, Palm Beach is the place for you! 

    Space is Everything 

    In a crowded region like Palm Beach, spaces are changing. During the Roaring 20s, Palm Beach was home to luxurious sprawling estates. 

    Now, that land is being divided up so that more homes can fit on it. Getting land in Palm Beach is becoming a rarity. If you find an investment opportunity that provides a bit of space, jump on it! That certainly won’t last long in Palm Beach. 

    What Are People Looking For?

    If you’re an investor looking to make smart money moves in Palm Beach, consider what potential buyers, renters, and homeowners are looking for. The pandemic changed everything, including what people want in their homes. 

    This list of wants often starts with a place to entertain outdoors. The WHO and CDC recommend that to reduce the risk of virus transmission, activities take place outdoors. Even as more people get vaccinated and try to move into a post-COVID world, it’s safe to say that people will be leery for quite some time. 

    To balance the human need for interaction with being gun-shy of the virus people want yards, patios, and barbecue spaces to entertain their friends and family. Screened porches will be popular, particularly with Florida’s abundance of wildlife. 

    People also want home offices. From wealthy CEOs to celebrities, everyone needs a little seclusion to get work done. Now, in a post-COVID world, everything has gone remote. 

    CEOs are seeing just how much work can get done from home. It makes sense that they’d want a space dedicated to doing that! 

    Buyers Can Be Choosy 

    Palm Beach real estate is a rich collection of contradictions. There’s an old saying that beggars can’t be choosers. If someone is willing to drop thirteen million dollars on a Palm Beach estate, they certainly aren’t a beggar!

    But the truth remains—if you don’t snap up a real estate investment opportunity, someone else certainly will. You have to move fast and be willing to compromise to get in on the Palm Beach action.

    However, real estate agents know how committed their clients are to the luxury lifestyle they are used to. When they have a new home to put on the market, sometimes real estate agents will do lightning-fast renovations. 

    They know luxury investors won’t take the living room as it is, for instance. So they do a rush job to put all the finishing touches on it. 

    If you invest in Palm Beach real estate, you might be inheriting some top-notch, recent renovations. This adds a lot of value to your investment!

    New Houses Are Common 

    New construction has become a hot topic in Palm Beach. With issues with the supply chain and issues with national construction as a whole, this can raise house prices. 

    But the benefit is that you won’t be inheriting someone else’s issues. Instead, you could even be getting a home that no one else has lived in before. There’s nothing like getting an entirely fresh start!

    It’s Unpredictable 

    Homes for sale in Palm Beach FL used to be more predictable. Now, investors and buyers are taking what they can get in some cases. 

    For instance, what would you think if someone buys a single-family home? They might be a wealthy young couple, successful retirees, or a young family with one or two children. 

    That’s not necessarily the case! Many buyers are purchasing single-family homes as options for work-from-home options. 

    Palm Beach real estate is increasingly diverse and surprising these days. Take advantage of the flexibility that’s available!

    People Are Buying Multiple Homes 

    Investing in Palm Beach Florida real estate is a smart choice. There are so many options once you find the real estate you like. 

    Of course, you can always move into one of your investment homes. But you can also use them as short-term rentals, renovate them and flip the home for a higher price, or treat it as a vacation home.

    Once you snag Palm Beach real estate, you’ll be able to do what you want with it. Be conscious when investing, though. It’s a wild market, and you need the best real estate agents to guide you through it. 

    Embracing the Trickledown Effect 

    For any luxury real estate agent in Palm Beach, they’re invested in their community. They’ve seen homes, people, communities, and real estate trends come and go. 

    When you invest in Palm Beach luxury real estate, you’re investing in the community. Buying homes in Palm Beach means that you’ll inevitably be supporting the tourism industry when families come to visit, the entertainment industry when you go enjoy the nightlife. 

    Palm Beach was built on the foundations of tourism and wealthy residents. When you participate in the cycle, you’re helping support jobs within the community. 

    Are You Tired of the Stock Market?

    If you have significant assets, then it can be tempting to sink your money into the stock market. After all, this is a time-honored move for making the most out of your dollars. 

    However, as we all know, the stock market comes and goes. As wars break out and pandemics start and economies recover or plunge, things change. It’s a volatile place to put your money, which every investor knows. 

    Riding the stock market is not for the faint of heart. But what if you’re tired of this particular rollercoaster? 

    If that’s the position that you have found yourself in, consider investing in real estate. Of course, there are highs and lows here too. 

    Right now, it’s an extreme seller’s market. Seeing highs like this are almost unprecedented, and it might not happen again in your lifetime. 

    While this is true, real estate tends to hold its value. It’s a great investment if you’re looking for something solid that always will be worth something. 

    It’s also much less of a dramatic rollercoaster than the stock market! If you’re looking for something that presents less risk, Florida real estate is the way to go. 

    People will always want to retire, visit, or enjoy Florida. Between the world-class arts, culture, food, nightlife, and ocean access, Florida will always be a popular place for people who have the money to enjoy it. 

    Don’t Settle 

    Remember when we said that if you don’t snap up real estate, someone else will? While this is true, remember not to limit yourself, either. 

    If you have time on your hands and don’t need to rush on an investment, take your time. As far as real estate goes, Palm Beach is one of the most unique places in the country. 

    Many homes in Palm Beach were built a long time ago. They’ve traded hands so many times, but the home itself remains basically the same. 

    Now, homes are being updated and renovated like before. As mentioned above, sometimes this can mean updating the living room or the kitchen to fit modern tastes.

    But when we say modern tastes, it goes far beyond having a smart chandelier or making sure that the fridge is energy-efficient. Bowling alleys, in-home recording studios, movie theater-style viewing rooms… there are so many unique perks. 

    The bones of the house might remain the same, but nowhere matches Palm Beach when it comes to large-scale indulgent upgrades and renovations. If you think that nowhere can match your list of home preferences for your next investment, think again! Palm Beach likely has your needs and desires covered in ways that you never imagined.

    Proceeding with Grace 

    When you have money to spend in Palm Beach, patience is of the essence. Like we mentioned above, this is an unprecedented market. This means that there are unprecedented challenges, including timeline issues and frustrations when it comes to bidding. 

    Some buyers have talked about going to see a house, then learning the contract was signed between leaving the realtor’s office and arriving at the house. Others learned that their generous bid was outmatched by thousands of dollars. 

    It’s not the same real estate investment world that you may be used to. It may seem like all the rules have changed, and that’s okay! You just need to trust your realtor

    This means you need to find someone with knowledge, empathy, and talent. Working in Palm Beach real estate for a long time is a great sign. So is listening to your needs and wants and doing their best to make them come true. 

    Investing in Palm Beach Real Estate

    Palm Beach real estate is nothing if not a long game. To make it happen, working with the right realtor is important.

    If you’re looking for exclusive properties, deep knowledge of the luxury real estate market here, and top-notch service, we’ve got you covered. Contact us today!

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