Is Now the Right Time to Buy a California Luxury House?

by Shai Prasad 11/26/2018

Determining the right time to buy a luxury house can be difficult, particularly for those who want to pursue a deluxe residence in San Francisco, Los Angeles or elsewhere in California. Fortunately, we're here to help you take the guesswork out of pursuing luxury houses across the Golden State.

Let's take a look at three tips to help you determine whether you are ready to kick off a search for a California luxury home.

1. Assess Your Finances

Buying a luxury house in California may prove to be expensive, especially if you want to land a top-notch residence in Beverly Hills, Malibu or other affluent areas. Luckily, those who plan ahead should have no trouble evaluating their finances and securing a jumbo mortgage.

One of the best ways to learn about your finances is to get a copy of your credit report. You are eligible for a free copy of your credit report from each of the three reporting bureaus (Equifax, Experian and TransUnion). Request a copy of your credit report from each of these bureaus, and you can learn about any outstanding debt and find out your credit score.

Also, it helps to meet with banks and credit unions prior to launching a California luxury home search. These financial institutions can teach you about jumbo mortgages and how they work. Perhaps best of all, banks and credit unions can help you find a jumbo mortgage that will make it easy for you to secure your ideal California luxury home.

2. Consider Where You Want to Live

The luxury homes available in San Francisco are far different from those available in San Diego. Much in the same vein, the luxury residences in Sacramento are unlikely to match those available in Los Angeles. Thus, you'll want to think about where you want to live and what you want to find in your ideal California luxury home before you embark on a house search.

Make a checklist of must-haves for your dream California luxury house. With this checklist, you can establish priorities for your California luxury home search and map out your homebuying journey accordingly.

3. Consult with a Real Estate Agent

If you are unsure about whether now is a good time to pursue a California luxury house, you should consult with a real estate agent. That way, you can learn about the ins and outs of the California luxury housing market.

A real estate agent is happy to teach you everything you need to know about pursuing a luxury home in the Golden State. Therefore, if you are interested in luxury houses in the Bay Area, a real estate agent can help you assess all of the options at your disposal. Or, if you are considering a move to Hollywood, a real estate agent can help you pursue dozens of luxury houses in and around the neighborhood.

Ready to enter the California luxury housing market? Use the aforementioned tips, and you can get ready to find a terrific Golden State luxury house.

About the Author

Shai Prasad

I am a Realtor®, and pride myself in providing you with the quality experience you expect for all your real estate needs. My goal is to provide first class service and help you achieve your real estate goals.