You’ve gone through the checklists. And you’ve read the general advice columns. But when it comes to buying your first home in LA’s unusually competitive market, you may still find yourself on the receiving end of a curveball or two. At JohnHart, we’ve spent countless hours learning every nuance of LA’s housing market, so we have our own additional first-time homebuyer tips that prepare our clients for long-term satisfaction – even in LA. You won’t hear these tips talked about as much as more nationally relevant ones, but they can have a major impact on your success when going for your first LA property.
Search Deeper Than the Zip Code
We’ve all heard the “mansion across the street from the crack house” anecdote. While it’s a bit of a crass exaggeration, it is true that just a few blocks can make all the difference when it comes to home values, noise levels, and competition for parking (all of which can also impact insurance premiums). So, the first of our first-time homebuyer tips is to scrutinize deeper than the zip code. If possible, narrow your search down to the exact block. Then visit it: during the day, the night, the weekend – whenever you can. You need to get a realistic perspective on daily life on this block. It may seem like common sense, but very few people actually make their search this hands-on. Especially if they’re moving to LA from out of state.
Parking Shouldn’t Be an Afterthought in LA
Chances are great that your parking will be adequately accommodated by either a garage or a driveway. But it’s not a guarantee. If the home you’re looking for doesn’t provide parking (or if you host a lot of gatherings and want to remain considerate to your guests), then you need to have a realistic idea of the abundance (or lack thereof) of street parking. For example, street parking in parts of Koreatown is virtually impossible without a dedicated parking spot. If you don’t account for street parking now, you might find yourself stuck in a looping nightmare for the remainder of your mortgage.
The Cost to Maintain an Older Home
Modern construction rarely compares to the character of an older home. But that charm often comes at a price, which brings us to one of the most cautionary of our first-time homebuyer tips: know what you’re signing up for with historic houses. That Craftsman or Victorian home may look stunning, but is it hiding complex and costly issues with the plumbing, electrical system, or foundation? A listing might read “move-in ready”, but this doesn’t necessarily mean “maintenance-free.” Note the age of these home features and reasonably assess the cost to maintain them.
The Right Neighborhood to Raise an… Insurance Policy?
While we briefly mentioned insurance above, it’s important enough of a consideration to earn its own dedicated spot among our tips for first-time homebuyers. Homeowners insurance can fluctuate dramatically depending on where you’re setting your sights. You have to account for factors like wildfire zones, hillside positioning, proximity to brush, and other hazards you may overlook – especially if you’re new to the area. By getting your insurance quotes early, you can explore more options than when you’re already locked into a contract.
Driving Home the Point About Commuting Times
Where you live in relation to where you work demands additional consideration when shopping for a home in Los Angeles. Sure, jobs can change. But you still can’t ignore commute times to your favorite haunts. Therefore, getting a realistic understanding of your daily commute is one of our most crucial first-time homebuyer tips that gets overlooked. Take a test drive at the normal time you’d be heading out to work or coming home. And, keep in mind that if your job is static, you’ll be doing this drive almost daily. Because a never-ending daily drive can quickly turn your dream home into a nightmare.
That HOA Over There
Perhaps this next one doesn’t technically belong amongst the tips for first-time homebuyers, but so many people use condos and townhouses to get their foot in the door that we’re going to include it. Homeowners Associations (HOAs) can be dramatically different from community to community. This means doing your research into each HOA’s monthly dues, financial reserves, and, of course, rules and restrictions. Yes, HOAs can apply to single-family houses too, but often at a price point we wouldn’t expect a first-time homebuyer to meet. Regardless of whether you’re buying a townhouse, condo, or a home within an HOA jurisdiction, make sure you know what you’re getting into!
First Doesn’t Need to Mean Forever
The next of our first-time homebuyer tips is all about setting realistic expectations, because a lot of initial homebuyers want to start with their ultimate dream home. But the term “starter home” exists for a very good reason! Only a small fraction of people buy their first home and never move again. In a white-knuckle housing market like LA, it can be more strategic to focus on affordability, location, and eventual resale potential when choosing a first home. With this flexibility, you can get your foot in the door and then start building equity (and, with it, purchasing power).
Work with a Professional
No list of tips for first-time homebuyers would be complete without a nod to our local experts – because LA is not a DIY housing market. You need professional guidance to interpret pricing trends, realistically evaluate listings, and strategically compete. And there will be competition. We might be biased, but we know a few local authorities with a solid track record of success!
A List of First-Time Homebuyer Tips for LA – and Beyond!
These lesser-known first-time homebuyer tips can serve to give you a marked advantage in the LA market, but can also be applied no matter where you’re planning to move. Above all, you’ll want to make sure that each decision you make on the road to homeownership is an informed one, so you can sidestep pitfalls and act with confidence. Master these tips the first time, and the next time (and there likely will be a next time) will likely go even more smoothly.
With a brand that says as much as JohnHart’s, Senior Copywriter Seth Styles never finds himself at a loss for words. Responsible for maintaining the voice of the company, he spends each day drafting marketing materials, blogs, bios, and agent resources that speak from the company’s collective mind and Hart… errr, heart.
Having spent over a decade in creative roles across a variety of industries, Seth brings with him vast experience in SEO practices, digital marketing, and all manner of professional writing with particular strength in blogging, content creation, and brand building. Gratitude, passion, and sincerity remain core tenets of his unwavering work ethic. The landscape of the industry changes daily, paralleling JohnHart’s efforts to {re}define real estate, but Seth works to maintain the company’s consistent message while offering both agents and clients a new echelon of service.
When not preserving the JohnHart essence in stirring copy, Seth puts his efforts into writing and illustrating an ongoing series entitled The Death of Romance. In addition, he adores spending quality time with his girlfriend and Romeo (his long-haired chihuahua mix), watching ‘70s and ‘80s horror movies, and reading (with a particular penchant for Victorian horror novels and authors Yukio Mishima and Bret Easton Ellis). He also occasionally records music as the vocalist and songwriter for his glam rock band, Peppermint Pumpkin.
