Beverly Hills real estate has long been regarded as the country’s most prestigious and sought-after housing market. For almost a century, this Los Angeles neighborhood has provided some of the best luxury living that Southern California, if not the entire world, has to offer. Homes for sale in this area are always in high demand, and if you do not already own a property in Beverly Hills, now might be the time to make your move. Continue reading to discover why Beverly Hills real estate is a worthwhile investment. 

Home Prices Are on The Rise

If you are searching for homes for sale in Beverly Hills, you should know that home prices are rising. The average listing price for homes is currently slightly above $3.5 million, and is expected to rise further, which is wonderful news if you plan to sell your property.

If you want to buy, it will still pay off in the long term, particularly if you buy early, because you can acquire a lower price before home values rise more.

All in all, it might be hard for a seller to accept your offer in the current seller’s market, even if you bid above the asking price. Homes sell quickly in about 35 days; thus, having a knowledgeable real estate agent can help you secure your dream home.

Home Values Keep Rising

Luxury homes in Beverly Hills hold immense value over time. Over the last decade, Beverly Hills appreciated by a stunning 97.02%, compared to the national average of 7.02% for the same period.

You can confidently invest in a property in Beverly Hills with the reassurance that the area has a solid history of growth. The more you hold onto your investment, the more it will appreciate.

Property Taxes are High

Beverly Hills real estate is so expensive, so expect your property taxes to be as high. Fortunately, there are various tax deductions that you can use to lower the cost of taxes related to your property.

You can deduct up to $10,000 in state and local property taxes from your tax payment. Although this deduction will unlikely cover your full property tax bill, you will still have some extra cash to put back into your house. Consider renting out your home to capitalize on more deductions if you want to reduce your taxes even more.

Attractive Rental Potential

You can invest in Beverly Hills real estate as a primary or rental home. Interestingly, many Beverly Hills residents rent, making investing in a rental property in this area a wise decision.

Rent charges in Beverly Hills are substantially higher than in the rest of the country, which means a property here can provide great rental income. The average rent in Beverly Hills is roughly $2,244, compared to the national average of $1,062. While living in Beverly Hills is more expensive, many are ready to pay a premium to reside in this opulent neighborhood.

Find Your Dream Beverly Hills Home with Yar Meshkaty

When you are ready to buy a luxury home in Beverly Hills, working with a top-tier realtor with extensive knowledge of the luxury market is important. Yar Meshkaty is a knowledgeable luxury real estate agent serving Beverly Hills and the greater Los Angeles community. Yar offers unparalleled insight into the current and historical market and what it takes to close a deal. Contact Yar Meshkaty to begin your home search.