Realty That Works | Location, Location, Location
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Home Buying in Los Angeles

Location! Location! Location!

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How to choose the right place within a large space.

So you’re thinking about becoming a Homeowner. Well, congratulations! Whether you’re a first time home buyer, an investor, newlyweds, or even moved to L.A. from out of town, the most important decision is WHERE you want to live. “Location, Location, Location” as the saying goes. Obviously, Los Angeles is a big town – according to the latest U.S. Census Bureau, 10,017,068 live within 4,752 square miles of our county line. That’s 2,419.6 people per square mile! From Long Beach to Lancaster it’s important to consider the area and neighborhood that you will want to live. So here are various factors to consider when deciding a location that’s right for you.

STEP 1 Know Your Purpose
It’s important to ask yourself a question – “what’s my primary motivation in buying a home?” Different people will have different purposes to buy a home. A job promotion, living close to friends and family, building wealth, education for the kids, wanting more space are some examples. Whatever your purpose may be, be sure to have one because your purpose will help direct you to the right location for the home that you will like to find.
STEP 2 Know How Much You Can Afford
Being a homeowner is a dream come true, not a nightmare come true. Unfortunately during our Recession many lives were devastated due to job loss and outrageous home loans that owners couldn’t afford. As a homeowner you never want to feel financially trapped. Sharing a fulfilling quality of life with your loved ones is knowing that you don’t have to worry about your mortgage payment. The quickest way to know how much you can afford is to first plan the future ahead (picture yourself financially in the next 5+ years) and to know your monthly Debt-to-Income Ratio (the amount of income left over from any debt you have paid).
STEP 3 Choose Your Neighborhood Wisely
Los Angeles has 204 neighborhoods. When you know your purpose and how much you can afford, now you can search for the neighborhood that will be the best fit for you to reside or invest in. The benefit to a buyer is to work with a Realtor that understands your purpose and motivation. Finding the right area can be a time consuming process which is why hiring a Realtor to assist in your search will be a substantial benefit. A Realtor that’s educated will provide the Market data, school information, safety, and any other additional information you’ll need to know. In addition what you can do is find a particular neighborhood in mind and take some time to visit the area in person. Get a feel for the neighborhood. How does it feel? Does it bring back certain memories? What’s it like at night? Is it quiet, safe? Maybe there’s something about the street or the architecture of the homes that stir an emotion that you enjoy. It’s important to discover that feeling…the feeling that feels like home.
STEP 4 Appreciate Convenience
How far are you willing to commute to and from home? Los Angeles is such a diverse population. I’ve met folks that commute 120 miles to work and folks that walk to work in 5 minutes. It’s all based on the lifestyle you want. Frankly, if the home you decide to own is worth the long commute to work, that’s a decision that you can only make. Convenience may mean different things to different people and living in the home of your dreams may have more value than the commute to work. Different neighborhoods have various uniqueness. Consider the type of neighborhood you will enjoy living in. Will it be in the city – local to shops, businesses, entertainment, hospital? How about a quiet suburban setting with less population density? Would you prefer a house on a hill or a condominium with amenities you will utilize? Once you decide to own Real Estate with purpose and affordability, you’re on the right track to find a home that’s right for you.

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