Los Angeles is the best city to live in in the United States. The weather, the people, the food and the culture are all great reasons you should move here! While most people can agree on this, finding a place to live might be tricky. That is because Los Angeles has some of the highest real estate prices in the entire country.
Renting or buying?
One of the first decisions you need to make when looking for a place to live is renting or buying. If you’re not sure, renting might be the better option in the short term since it’s less expensive and more options are available. However, if you’re planning on staying in the same place for a few years, buying might be the better option because the monthly payments will eventually go down, and you’ll own the property.
House or condo?
Another thing you need to consider is the type of property that’s right for your lifestyle. Is it more important to have a large backyard or lots of storage space? If you think the answer might be yes, buying a house might be better. On the other hand, a condo might be a better alternative if having plenty of public transportation options and being close to work are more important to you. In Los Angeles, the average price of a condo is $505,000. Purchasing a home necessitates the purchase of the land on which the house is built, but it also provides more privacy.
The price range of houses for sale in Los Angeles compared to the average price of condos will play a role in your decision. However, those prices will vary depending on the location. After all, Los Angeles is in the middle of one of the largest metropolitan areas in the entire world. Generally speaking, condos are more affordable in the best areas of LA, while homes are the preferred options in working-class neighborhoods and those considered middle class.
Great neighborhood or an up-and-coming district?
Location is another important consideration when looking for a place to live. Do you want to be in the heart of the action, or would you rather be away from the hustle and bustle? Is it more important to you that your chosen neighborhood is safe and family-friendly, or are you looking for an up-and-coming district with the possibility of the neighborhood becoming the next big thing? These things are important to think about before signing a lease or putting in an offer on the house you want. Doing thorough research on the two opens your mind to the possibilities the real estate market has to offer.
Bearing in mind price, the neighborhood, and property type can help you find the best house or condo. It would be best to consider the safety and family-friendliness when looking for a place to live in LA.
Drive or ride?
Something else you need to think about is the mode of transport and the distance from your job. If you rely heavily on public transit, make sure that the property is close to a bus or train stop. If you have a car, the distance from work isn’t as important, but keep in mind how long it will take you to get to the property and the cost of parking. Rideshare and cycling will influence the distance of the property. It’s also important to consider the walking time and the cost of parking when it comes to the commute you’ll have in the morning. The mode of transport will influence whether or not the location is close enough to work, thus influencing how much the daily drive will affect your life at home.
Going alone or raising a family?
Your lifestyle and the size of your family are also important factors to consider when looking for a place to live. If you like hosting barbecues and having friends over, then you’ll need a space that can accommodate this. If you have kids, make sure the property has a good school district or is close to parks and other amenities.
Conclusion
Considering all the above, choosing where to settle in LA can be daunting. Ensuring you go for that which serves your best interest can be the best option.
