The hundreds of things to do in West Palm Beach make it a great vacation destination. But West Palm Beach is also a great place to call home. In addition to year-round warm weather and sunshine, residents enjoy breathtaking pristine beaches, world-class entertainment, dining, shopping experiences, and a welcoming community. West Palm Beach also has a rich art and culture scene, with many renowned artists making this their home. If you are considering moving here, the following four tips will help you navigate the Florida real estate market like a pro.
Hire an Expert Team
Before you even start looking at homes to buy in the area, find and hire a real estate expert. The guidance of professionals like the West Palm Beach real estate team The Nathan Davis Group is an invaluable tool to have on your belt as a homebuyer. Your agent or realtor will help you nail down your essentials – what you want from your home – and find a property that meets your needs. They will also know the best lenders and brokers in town and guide you on who else you need on your team.
Consider the Cost of Living
The cost of homes for sale in West Palm Beach is a crucial factor you will consider when looking for a house to buy. Average home prices in West Palm Beach vary depending on the location and type of property, but the range goes from $400,000 to $1 million and more for larger homes. Housing aside, living in West Palm Beach will involve other expenses, including healthcare, transport, school, and entertainment. The cost of living in this part of Florida is 6 percent higher than the state average and 5 percent higher than the national average, so consider how this will affect your budget.
Budget for All Costs
It is easy to only focus on the listing price of the home you would like to buy. But buying a home involves much more than the sale price; you also have to consider the closing costs, which are usually about 5 percent of the sale price, and taxes. Florida allows homeowners to file for a Homestead Exemption, which you can do if your West Palm Beach home is your primary residence. Ask your agent about this.
Schedule Inspections
Just as you would never buy an outfit without trying it on first, you should never purchase a home you have not seen. This means both a walkthrough with your agent and an inspection by a professional contractor. Inspections are not mandatory, but they will save you a lot of headaches, especially if you buy a home that needs repairs. Schedule a wind mitigation and four-point inspection to determine the condition of the house beyond aesthetics. The results could play into the final deal.
Finally, Consult the Nathan Davis Group
The best way to navigate the West Palm Beach real estate market is with an expert by your side. Whether buying a home for the first time or dipping your toes into the market for the 12th time, nothing beats the experience and expertise of a trained professional. Contact the Nathan Davis Group today to discuss your real estate goals with a seasoned expert.