Cradled by the Pacific Ocean on the southwest and Laguna Woods on the northeast, Laguna Beach is a haven for sun-seekers, nature lovers, and those who simply want to enjoy the finer things in life. With 27 beaches and coves dotting its 7-mile-long coastline, Laguna Beach delivers an inspiring medley of sand, sea, mountain scenery, marine wildlife, and modern amenities − attracting virtually all people from all walks of life.
Planning to move to this quaint yet cosmopolitan beach town located halfway between Los Angeles and San Diego? Here’s what you need to know before you move ahead with your plan to purchase Laguna Beach real estate.
LAGUNA BEACH REAL ESTATE OVERVIEW
Laguna Beach is a popular seaside community with a reputation for luxury. As such, homes for sale here are in the high-end price range, comparatively costing well above adjacent beach towns in the area. There are 27 neighborhoods to choose from in Laguna Beach, and home prices in the area generally fall between $25,000 to $46.5 million.
As of the latest data by Realtor.com, the median listing home price in Laguna Beach is $4 million, representing a 14.4% year-over-year upward trend. Meanwhile, homes in the area were sold at a median price of $2.5 million after around 71 days of staying in the market. Single-family homes and spacious lots dominate the roster of available properties for sale here, and most of them are found near the shore.
KEEP THESE IN MIND WHEN BUYING A LAGUNA BEACH HOME
From historic mansions to contemporary waterfront homes, homebuyers have a plethora of choices in Laguna Beach. Here are some tips to consider when shopping for the ideal luxury home for your needs.
Inspect before buying
Even if it’s not required, it’s wise to have a thorough home inspection conducted to reveal the overall condition of the home and whether or not there are costly repairs that need to be done. Hiring a professional inspector may add to your expenses now but it will save you time and money in the long run by helping to avoid any structural problem that put pressure on your finances.
Don’t forget the taxes and fees
Learn as much as you can about real estate taxes in the area where you plan to buy a new house as they can add up over time. The good news is that property taxes in Orange County are at a very low 0.79% of the assessed property value, much lower than the national average of almost 1.0%.
Other fees to expect when buying a luxury home include insurance, closing costs, and broker fees. Do your due diligence on the cost of ownership to avoid buyer’s remorse later down the road. You can ask for help from your real estate agent for the numbers.
Knowing the neighborhood also matters
Get a feel not just of the house itself but the neighborhood, as well. Try visiting the home at different times of the day and on a weekday and a weekend to get a feel of the neighborhood vibe.
If a home doesn’t meet your most important criteria, just move on and look for another property. With patience and your real estate agent’s guidance, you’ll find a better property among the many Laguna Beach luxury homes for sale.
Let me, Tony Florez, − top-notch Laguna Beach real estate agent – help in making your luxury home purchase proceed as smoothly and as problem-free as possible. To start your home-buying journey with me, call 949.378.7276 or send me an email here.