We work with many buyers at California Platinum Realty and California Platinum Loans, and we’re confident in saying there’s no “one size fits all” or “one right way to buy a house” in LA. At the same time, there are still some ways that every home buyer in the LA market can be smarter and get everything they want in a home, mortgage, and buying experience.
Find an up-an-coming neighborhood
The Los Angeles Times maps over 270 neighborhoods, but there are actually over 400, and potentially more than 500 Los Angeles neighborhoods. Add in over 80 incorporated cities in Los Angeles County and there are many choices of neighborhood in addition to the best-known neighborhoods that command the highest prices.
An up-and-coming neighborhood is also called a transitional neighborhood. This can mean that it’s transitioning from multi-family housing to single-family housing, or that the people moving into the area have changed and property values are rising. Some transitional neighborhoods in LA include Palms, Mar Vista, and Playa Vista/Playa del Rey. These neighborhoods are near beaches, the Marina, and Venice/Santa Monica, but you’ll find other transitional neighborhoods throughout the county.
Set a timeline and stick to it: with help
You’ve probably already learned that getting pre-approved for a mortgage gives you an important advantage when making home-buying offers. According to Curbed, buying a home in Los Angeles can take anywhere from 1 day to three years.
If you’re not making an essential move for work or other reasons, choose the time of year that you’d prefer to move and work backward. If you’d like to move during the summer so your family can adjust to a new neighborhood or school, your six-month timeline should start in January. It’s important to have your tax returns, income records, and other information in order before you start your home buying process. When it comes time to look for a home, set aside at least three months so you can get the best idea of your options and the location that’s right for you.
Work with experts who care about you and know the market
For most people, buying a house is the single largest financial transaction they will ever make. Our team at California Platinum Loans and California Platinum Realty has helped many people through the home buying and selling process.
We are experts in Los Angeles real estate, and we know the market in many desirable (and transitional) neighborhoods. Combined with connections with mortgage lenders and a variety of loan programs, you will shorten your home buying timeline and gain many advantages by working with us.
Sources
Chiland, Elijah. “The Los Angeles Home Buying Guide,” Curbed, 21 January 2020, url: https://la.curbed.com/2018/4/27/17245204/los-angeles-real-estate-buy-house-guide
Los Angeles Times Data Desk, “Mapping LA: Neighborhoods,” LA Times, url: https://maps.latimes.com/neighborhoods/neighborhood/list/
