The South Bay refers to the southwest corner of Los Angeles County. It includes fifteen cities and part of LA itself. It also includes several unincorporated areas like Marina Del Rey and the massive Port of Los Angeles. This area is the home of southern California’s aerospace industry and the Los Angeles Air Force Base. That is why many people move here in their search of high paying jobs. Here are 4 things to check when looking for the perfect South Bay home.
Pricing
The average home in the Pacific South Bay is 1.3 million dollars. That’s significantly more than the 600K median home price for southern California, but that number includes homes that are 50 miles inland. You pay a premium to be close to major employers like Raytheon and Tesla. The high paying jobs in the area also contribute to the higher real estate prices. You’ll pay a premium to be near Silicon Beach, just as you’d pay a fortune to live in Silicon Valley. Yet you may want to pay more to minimize how long you spend in Los Angeles traffic. If you don’t have the money for a single family detached home, start looking at condos and townhomes that share one or more walls with neighboring units. That may be essential if you’re looking for four or five bedrooms. If you’re willing to give up the yard, small lot homes are more affordable. You won’t have to pay HOA dues, though you may need to pay a maintenance fee to maintain any communal space in the subdivision. You won’t find many co-ops in South Bay, but there are a few tenancy-in-common or TIC projects. They’re some of the most affordable starter homes in the area. Note that most were former rental properties, and their condition.
The Features Your Family Needs
How many bedrooms does your family need to be comfortable? How any bathrooms would you like to have? Use a tool like the perfect South Bay home finder to search listings to find the right property instead of wasting time touring homes that may be too small or outside of your price range. It even lets you select your availability, so that you don’t waste time visiting homes that won’t be available before you’re ready to close.
Come up with a list of deal breakers. If you need a house with an enclosed yard for the kids, then a zero-lot line home isn’t good enough. If you have mobility issues, a home on a hill or with a lot of stairs isn’t going to work.
Environmental Concerns
There are people who don’t want to live near the Port of Los Angeles or LAX due to the noise and pollution. Others want to stay well away from the fumes put out by refiners in South Bay like Tesoro and Chevron. Fortunately, residue flaring has become rare. Yet many people pay a premium to live near the water, and you might be willing to put up with the occasional smell or jet flying overhead to afford to do so. That’s especially true given that the South Bay is built-up, so prices are going up fast.
Location and How It Impacts the Property
They say that location is the most important thing in real estate. However, the location affects the home in a number of ways. You’ll pay more for homes zoned for the best schools. You’re going to pay more for a home within half a mile of a transit stop. You’ll pay less for homes and condos in walking distance of shopping and retail, unless it is a high crime area. You should determine the commute you’ll face getting to and from work from a given property, since being near a major highway isn’t a guarantee, you’ll get there quickly.
Originally Appeared On: https://realtybiznews.com/4-things-to-check-when-looking-for-the-perfect-south-bay-homes/98762592/