The Real Estate Buying Process
Whether you’re buying your first home or making a move for the second time, navigating the Los Angeles real estate market can feel like a big leap. With rising home prices, competitive offers, and neighborhoods that stretch from the beach to the mountains, it’s easy to feel overwhelmed.
But you’re not alone – and with the right information and guidance, you can move forward with clarity and confidence. Here’s what to keep in mind.
Yes, L.A. is Expensive. But – There Are Still Opportunities
Let’s be honest—L.A. homes aren’t cheap. As of 2025, the average price is hovering around $975,000, and it can go much higher in certain areas. That said, there are still pockets of relative affordability if you’re open-minded and strategic.
Tip for first-time buyers: Get pre-approved early. It gives you a clear budget and shows sellers you’re serious—making your offer stronger from the start.
Location Isn’t Just a Preference – It’s a Strategy
L.A. is a city of neighborhoods, each with its own feel, pace, and perks. When looking for a home, think beyond square footage. What kind of lifestyle do you want? Where do you spend your time?
Tip for second-time buyers: Think about where your life is going—not just where it is today. Upgrade strategically.
Understand the True Cost of Homeownership
There’s more to consider than just the listing price. Be prepared for additional costs like:
Down payment: Typically 5–20%, depending on your loan.
Closing costs: Usually 2–5% of the purchase price.
Property taxes: Roughly 1.25% annually in L.A.
Earthquake insurance: Optional, but worth considering in SoCal.
HOA fees: If you’re buying a condo or townhome, check the monthly dues.
Keep in mind: Your first home doesn’t have to be your forever home. Focus on smart, sustainable choices that build equity over time.
Be Prepared for Competition—But Stay Grounded
It’s common for L.A. homes to get multiple offers within days of hitting the market. While that can feel intimidating, a well-prepared buyer can stand out.
Here’s how:
Partner with an experienced local agent.
Submit a clean, compelling offer (limit unnecessary contingencies).
Stay emotionally resilient—it might take a few tries.
Important: Don’t waive key protections like inspections just to win a bid. A strong offer is one that balances confidence with caution.
Start Where You Can—And Grow From There
Owning a home in Los Angeles often requires flexibility. Maybe you start with a smaller place in an up-and-coming neighborhood or choose a fixer-upper with potential.
And that’s okay.
Every step you take builds your financial future and creates stability. Homeownership is a long game – and even your first step puts you ahead.
Buying a home in L.A. can be challenging, but it’s also one of the most rewarding investments you can make – for yourself, your future, and your family. Whether you’re buying for the first time or making a strategic move, you don’t have to do it alone. With the right support, you’ll be unlocking the front door to your new home in no time.