Are you eyeing your own slice of the resort town life in Florida? If so, no other town emphasizes sand, surf, and the good life more than Palm Beach.
Why Palm Beach?
Consider some of the benefits of buying one of the lovely homes for sale in any of the areas here, including the exclusive community of The Club at Ibis in West Palm Beach where luxury and an active lifestyle are king:
Economy
The bustling tourism economy and developments in the area have made Palm Beach a playground for the affluent. Along with the tourism sector, other industries are also thriving in Palm Beach, including technology, agriculture, manufacturing, construction, and many others. Job opportunities and a diversified economy bring forth the promise of progress for residents.
Weather
Living in the Sunshine State, you’ll have mostly clear skies all year round. Apart from sun-worshipping by the beach, residents and visitors also have plenty of opportunities to go out and enjoy everything that Palm Beach has to offer. Moreover, the lure of warm weather attracts many people from colder states or countries to take refuge in this wonderful resort-town.
Lifestyle
Life in Palm Beach is never boring, especially for those who have an active lifestyle. The beaches on the barrier island are humming with activity from water-based sports to beach games. Even as you go inland, there are several attractions that exemplify the Palm Beach culture, underscore the area’s historical significance, and bring people together.
The journey to home-buying success in Palm Beach
Anyone can pursue their dream of finding a parcel of Heaven in Palm Beach on their own but there’s nothing like the help of a local real estate professional to ensure not only success in the home-buying endeavor but also a stress-free transaction.
The Telchin Group, a team of experts in Palm Beach luxury real estate, has come up with this list of steps to ensure a fruitful home-buying journey:
- Prepare early
- Check your finances
- How to pay
- Proceed with the offer
- Go ahead with the home inspection
- Accept the offer
- Close the deal
In these early stages, you – the buyer – begin to put together your concepts of an ideal Palm Beach home. You can start getting ideas from various online listings and see the various styles, amenities, and types that appeal to you most. You can also come up with a list of must-have things you’ll want to see in your new home and another list of things that you’d like to see in your new home but can do without.
Since buying a house in Palm Beach, FL entails a huge investment, you need to find out how much house you can afford. And even if you can pay for this house, you also need to see if there’ll be enough budget left for the rest of your needs. If you have to pay more than three to five times your household’s annual income, then it may be wiser to invest at another time.
Most high-end home shoppers usually want to skip the biddings, negotiations, and talks with mortgage lenders. Thus, it’s common to find elite home buyers paying in cold, hard cash.
Another popular payment option for luxury housing is the jumbo loan. Qualification for this particular loan may be more stringent compared to the regular mortgage due to the higher risks of defaulting on payments in the long term. However, successful applicants will be able to tap into larger funds than the standard mortgage. In Florida, the jumbo loan threshold is $647,200.
While having a lawyer onboard can help the buyer craft a contract that states specific requirements and terms, their services are only optional in Florida. A local Realtor can be just as helpful in representing the buyer at the negotiation table.
The result of this inspection has a significant impact on what to bargain for during negotiations. This can come right after a seller accepts the buyer’s offer. Based on this, the buyer can either renegotiate terms and pricing or, if an agreement could not be reached, walk away from the deal.
Should there be no other details to be negotiated, both buyer and seller can agree to finalize offer acceptance through a purchase agreement. This contract documents all decisions agreed upon by the two parties. The buyer then pays the earnest money and arranges for the final details and paperwork for the closing.
Once all the documents have been submitted and the purchase contract agreed upon, all there’s left to do is for the buyer and seller to affix their signatures on the contract. The buyer can then finally receive the keys to their new home.
For the best real estate advice in some of the most exciting places in the Sunshine State, don’t hesitate to call the top-tier team of real estate agents in Palm Beach Gardens – The Telchin Group. Call them at 561-301-0249 or send them a message here.