Buying a Westside of Los Angeles home is about three main things: location, location, location. Although the hot real estate market has cooled some in LA, stiff competition exists in several areas of the metro area. Be prepared for competition in these sought after areas like West LA.
The alluring Westside of Los Angeles is filled with thriving industry from TV studios to major financial institutions, bringing in many who are working in the area as well as families of children who attend major area schools. The tech industry is also booming in the West, with offices of major companies like Yahoo and Google.
The globally recognized neighborhoods are appealing to not only locals involved in the industry but also individuals who desire to move to the US for the first time.
The Westside is home to properties that sell for over $1.8 million – especially in areas like Beverly Hills, Bel Air, West Hollywood, Mid-Wilshire and Santa Monica. If you are looking for a home in these areas, be prepared to get involved in a bidding war or to outbid a buyer for more than the asking price – and with cash.
Westside Home Buying Tips
Because of the high demand of this prestigious area of LA County, it is vital that you keep the following in mind in order to acquire the home of your dreams in the sea of competition.
- Be aggressive when it comes to getting in to see a place. There is a chance that now is the only opportunity you will have before the house sells.
- Anything well-priced will go fast.
- Line everything up (like inspectors) as quickly as possible so you can spring into action.
- Offer cash if possible.
- If cash isn’t an option, be certain you have solid financing before you begin looking. Have a good down payment and be pre-approved before you look, lest you may meet heartbreak when the home of your dreams is swept away from under you by a buyer with their ducks already in a row.