10 Tips for Southern California Homebuyers

If you are a homebuyer in the Southern California luxury home market, there are certain things that you might want to take into consideration. You should first decide whether you want to live by the ocean, in the mountains, or in the city. You should also make up your mind about what kind of neighborhood you prefer and the amenities you want to have in your new home.

People who are interested in buying luxury homes usually look for features in their home that reflect the relaxed lifestyle prevalent throughout Southern California. These might include gourmet kitchens, home theatres, wine cellars and complex security systems to protect it all. They also look for furniture and interior decor and outside living space to match their personalities.

If price is not an issue, then what you look for in a home will depend entirely on your lifestyle and taste. Studies show that a major concern of Southern California luxury homebuyers is having a "designer" kitchen for entertaining. The other top-rated features desired are (in order of importance):

• Entertainment room
• Luxury bathroom
• Wine cellar
• Exercise area
• Recreation room
• Retreat area

Here are a few tips that can help make your home search easier (and fun!):

1.      Make a checklist of all the items you want to have in your home, such as the number of bedrooms, and the placement of the terrace or patio.

2.      Investigate what your other bills might be. Electricity is very expensive in Southern California and with recent appreciation, you property tax bill could increase substantially based on the new purchase price.

3.      You should choose a real estate consultant who is a specialist in the Southern California market. They should have sold lots of homes, have solid references, and a successful track record to prove it.

4.      Before making a purchasing decision, be sure to visit the neighborhood at different times – during the day, at commute time or school dismissal and at night.  You don’t want any surprises later.

5.      Get pre-qualified so you know what you can afford and also have credentials to make a quick offer that is credible.

6.      DO NOT skip the home inspection. Even if you can’t attend the inspection yourself, you can hire a certified inspector to prepare a property report and send it to you via email.  You should also ask them to drop off a hard copy to your Realtor. 

7.      Make sure your real estate agreement mentions what the sellers will and won’t take with them (what conveys).  That wonderful garden statue that you fell in love with when you saw the house may not stay there.

8.      Don’t hesitate to ask for concessions, even if the price is reasonable. You can ask the sellers to pay some of the closing costs, or replace certain items that need to be repaired.

9.      Do not let emotions rule your decision. You need to be practical – at some point you may decide to resell the house.

10.  Make sure that a title search is done before closing and purchase title insurance.  Title insurance protects you should there be any claims against your home in the future.

Buying a home is a big investment. Finding the right home requires time, effort, and some real estate market savvy. The above guidelines are a good starting point to finding the Southern California Home of your dreams.