Buying a Home is one of the most valuable and important investments you will make in your lifetime. The set & setting of your home can be the hearth & heartbeat of your family life, work-life, investment portfolio and more. Here are some key factors that shouldn’t be compromised.
Location: A first home is as much a lifestyle decision as a financial one. Commute time is always a factor in Southern California. Test drive or plan out your public transportation route to and from work. Does the commute time fit your quality of life? Neighborhood surroundings, walk score, and your potential neighbors are also huge considerations. Take the time to notice the sounds of the area you are considering- are there loud neighbors, barking dogs, traffic noise, etc?… Is proximity to natural areas or green-spaces important? Do you like to be able to walk to markets, shops and cafes? All of these location factors should be considered before making an offer on a home.
Budget: When settling your monthly housing budget it’s a smart move to include every potential expense into your final equation. A typical monthly mortgage payment will include PITI- Principal, Interest, Taxes, & Insurance. Utility bills and other recurring costs can fluctuate considerably between houses, so make sure you know what to expect. Having a reserve for unforeseen maintenance and repairs is key- as every home will need it sooner or later. When making an offer on a home, covering closing costs (i.e. loan generation costs, pro-rated taxes, title search & insurance, etc) and down payment should be considered as well.
Schools: For homeowners with young children and those planning to become parents, school quality is an important consideration when choosing a home. Keep in mind, though, that school rankings aren't always the best measure of performance, given that they can quickly change. Some go to websites for checking school ratings are greatschools.org (https://www.greatschools.org), resident school identifier (http://rsi.lausd.net/ResidentSchoolIdentifier/) and niche.com (https://www.niche.com)
Appreciation / Investment: Southern California, and Los Angeles in particular tend to appreciate at a much higher rate than the rest of the continental U.S. With certain LA neighborhood zip codes appreciating at an average of as much as 17% annually (2019). Which make for a competitive market place. I can guide you in finding your next home or investment for the future.