15
Jun

Los Angeles Townhomes and Condominiums: Affordable and Livable and a Great Way to Downsize

Southern California is one of the most desirable places to live in the country, so it is no surprise that the region is home to a booming real estate market. Many people mistakenly believe that real estate in Los Angeles is unaffordable for new homeowners and people looking for a place to raise a family. However, townhomes and condominiums in Los Angeles can provide a very affordable alternative for those seeking homeownership over renting or simplicity over home maintenance.  Condos and townhomes can be a win-win for many prospective buyers or owners who want to downsize and get simple!

Getting the Right Agent Is the Key to Success

Whether you are selling a property that has been in your family for years or buying a home for the first time, you will want a dedicated and experienced Los Angeles real estate agent who can help you navigate the complexities of the local housing market.

Teresa Mack is committed to matching great real estate opportunities with our clients’ unique needs. Some clients that want to own but either can’t quite afford a home in the area they want or have a home but want to downsize ask Teresa for options.  Some of these clients can benefit by considering condo or townhomes with well managed homeowners associations and shared maintenance these complexes can provide great living situations at a fraction of the cost of a stand alone home.

Urban Los Angeles offer Opportunities for Buyers and Sellers

Urban Los Angeles can be defined as anything other than the beach communities of Los Angeles and are often the most affordable and peaceful areas of the city.  To name a few well placed communities that Teresa’s clients frequently invest in: Westchester (near LAX, homes and condominiums at moderate prices; the eastside of Westchester may offer the best deals in town when they have something available); Culver City (close proximity to the 405 and Mid-City offers lots of shopping centers, small businesses, great schools and quiet communities, expect a small home (under 1,500 sq ft) for anything under $1.2MM but condominiums and townhomes here are quite affordable ($600K+); Ladera Heights and North Inglewood (peaceful residential communities for those seeking larger homes or duplex/triplex opportunities, there are a few condo complexes but not many in this area); View Park/Windsor Hills/Baldwin Hills/Baldwin Vista these sought after neighborhoods are mostly comprised of homes but there are a few condo and townhome complexes that offer affordable opportunities to live in these quiet communities; West Adams/Jefferson Park/Arlington and Western Heights offer mostly homes that are smaller and more affordable but still a buyer seeking the more affordable condo can find a few to choose from.  The list goes on and on in a urban oasis of niche neighborhoods and diverse property styles – don’t limit yourself be open to condo and townhomes as an alternative.

Condominiums and Townhomes

Condominium complexes have (usually) single level units with shared walls and possibly shared ceilings and/or floors.  The complex usually has one common entrance where mailboxes are located and then the units are distributed between floors connected by hallways and elevators. Parking and often laundry are community with parking often being subterranean in the city.  Amenities like pools, tennis courts, clubhouses and small theatres may also exist.  Corner units are sold at a premium as are top floor units.

Townhomes share one common wall, if any and often have an attached private garage, they are usually two or three levels and tend to be tall and narrow.  Generally townhomes have fewer common amenities and may be limited to a pool and possible a clubhouse in the city.

Whether you are a new homeowner or a long-standing Los Angeles resident seeking a comfortable new home, an affordable townhome or condo may be the perfect choice for you.

If you are buying property in Los Angeles for the first time, a condo or townhome is a great way to become familiar with the demands of being a homeowner. You can live a comfortable urban lifestyle without putting too much pressure on your checkbook. A great location will mitigate the fact that you share a wall or part of the complex with other homeowners and you’ll find a sense of community in these types of complexes also.

Don’t Overlook Location

When purchasing a new home, many people focus on the property itself and don’t give as much thought to its surroundings. However, the importance of location really cannot be overstated. For most people, the majority of the day is spent at a workplace, stores, restaurants, parks, and other places near home. The neighborhood you choose will become a vital part of your life, so it is important to choose somewhere that is comfortable and welcoming.

A central location in the heart of the Los Angeles metro area can accommodate a diverse range of lifestyles and needs. Many of the urban neighborhoods that we specialize in are close to both running trails and business hubs, making those areas a perfect choice for nature lovers and daily commuters alike.

Use an experienced Realtor to help you find the intersection between what you need, want and what is available in the dynamic Los Angeles housing market.

The Price of Los Angeles Housing: Myths and Tips

Many people are reluctant to search for a home in Los Angeles because they believe they can’t afford it. Like other California cities, it is no secret that Los Angeles housing prices are quite high. The median price of current listings on Zillow is $550 per square foot.

However, this figure is somewhat misleading because a handful of extremely high-end homes skew the average upward. The truth is that Los Angeles still contains plenty of affordable real estate, especially if you’re looking for a condo or townhome.

Invest in a Great Property

Another thing to keep in mind is that real estate in Los Angeles can be a smart investment. In addition to being a safe place to spend free time and raise a family, a home is the most valuable asset that most Americans own.

As more people purchase property in the Los Angeles area, real estate is likely to increase in value well into the foreseeable future. If you buy a house now, your house will over time appreciate in value and be worth more so that when you sell it or pass it on you are passing on solid value. This is especially true of highly desirable urban neighborhoods, 

Tips for Selling a Home in Los Angeles

If you are looking to sell a property in the Los Angeles area, this may be an excellent time to do so, and you may consider downsizing to a condo or townhome.  Regardless of where you plan to go selling your home at top dollar is important.

The real estate market has been in recovery mode for the last decade rebounding from the harsh impact of the 2009-10 recession.  Prices have steadily ticked upward making many sellers comfortable and many buyers frustrated.  However, the current pandemic and other factors including the natural cycle of real estate have caused the market to plateau just a little earlier than most expected.  The impending recession and unemployment will likely have a negative affect on values in the future.  For now, prices on properties in good condition are relatively steady or falling as little as 10-15%.  Nevertheless, the future is not promised and savvy sellers are making moves to secure their equity and appreciation. 

Choosing your price wisely is one of the most crucial parts of selling a house. You want to get as much as possible, but you don’t want to set the price so high that the house sits on the market for a long time.  It is critical that you consult a local real estate agent to help you decide a fair price for your home. With the resources we have available, we can expose your home to a large pool of potential buyers. That will help you sell your home quickly and get a fair price.

Adhering to current safety protocols is essential to protect yourself, your prospective buyers and your asset.  A well trained and active Realtor will have tools and best practices to minimize exposure to the virus, to attract and inform buyers and their agents and to ensure that your home gets maximum exposure even though some marketing activites are prohibited or restricted during the pandemic.

Find the Best Los Angeles Real Estate Opportunities

Whether you are buying or selling a home, choosing the right real estate agent is the key to getting the best deals and fairest prices. This is especially true of the Los Angeles area, where the real estate market is large and competitive.

We understand the difficulty of landing a great real estate opportunity, and that is why our creative real estate team strives to serve your unique housing needs. With our help, you can be confident about making the best long-term decision for yourself and your family.

Living a luxurious yet affordable lifestyle in Los Angeles might strike you as a bold idea, and perhaps it is. When it comes to real estate, we believe that no goal is too bold to be realized. We combine our expert insight into the Los Angeles housing market with a human-centered approach to solving problems. Contact Teresa Mack today and get advice about the best real estate opportunities for you.