Millennial Guide for Moving to Los Angeles on a Budget

Many people have managed to build lives in California. However, Los Angeles real estate can be scary, especially for young people. It may leave you wondering how you will ever be able to own property in one of the most expensive cities in America. Fortunately, there are opportunities for ownership for everyone if you know where to look.

Can I Afford It?

Despite what you may expect, even millennials buying their first homes can afford property in Los Angeles. The county median price is high at over $500,000. However, this is only the median price, there are plenty of houses and condos for sale at less than this. Additionally, many young people are able to take advantage of more flexible financing options that allow mortgages with less than 20 percent down payments.

Where Should I Look?

Naturally, the key to finding affordable properties is to look in the right neighborhoods and at the best condos for sale Los Angeles. Many people looking for more affordable options may look to South LA or suburban areas in the Valley. These areas frequently have listings that are attainable with smaller budgets.

For buyers with a little more buying power, Santa Monica real estate is popular with young people. Similarly, old charm causes many to look at West Hollywood properties for sale. While both of these neighborhoods are home to some expensive listings, there are also properties that can be found even on a budget.

Tips for Buying 

The most valuable tool at your disposal as a buyer is information. Get educated about the purchasing and financing processes, as well as the markets you are looking at. Doing your homework and getting prepared will help you make wise real estate decisions.

Bring in the Best

It helps to have experienced professionals in your corner. Whether you are looking for South LA, the Valley or Santa Monica properties for sale, the team at Maser Condo Sales can help you find the right fit for you. Contact us today.