SF Bay Area is a beautiful city with an array of activities and attractions for any taste. Whether you’re looking to go out on the town, enjoy a scenic walk along the bay, or find your next home. But before you make the big move from renting to owning in this eclectic city, there are a few things that you need to know. Here are 10 fast facts about buying a home in SF Bay Area:
1. Cost of Living
Despite the recent dip in home prices across SF Bay Area, they are still quite high. However, if you take into account how much money you can make working for tech companies here vs other cities where housing costs might be lower but salaries aren’t as good, this makes it a great place to live despite the cost of living being on the rise.
2. Property Taxes
Property taxes in SF Bay Area are also on the rise making it important for homeowners to plan. You can make your property more attractive by increasing its curb appeal which will allow you to get higher appraisals and therefore lower tax rates.
3. Facing The Bay Area Housing Competition
Even though SF Bay Area has plenty of homes to offer, they are mostly expensive and in short supply. To make sure you don’t face tough competition when looking for your dream home, it’s important to be aware of the market conditions before making an offer on any properties that catch your eye.
4. Mortgage Rates
Right now, mortgage rates are at historic lows which means that if you’ve been thinking of buying a home for some time and just haven’t taken the plunge yet. If you’re planning on staying in the area for a long time and making this investment will give you peace of mind, then now is the right time.
5. Beautiful Homes
SF Bay Area has a lot of options to offer when it comes to finding your dream home. Whether you want something modern, traditional, or somewhere in between, there is always an option for you here. It’s important to do plenty of research before putting any money down so make sure you know exactly what kind of place would suit your lifestyle best.
6. Median Price For Homes in SF Bay Area
The median price for homes in the SF Bay Area is currently around $850,000 which might seem like a lot but if you take into account that this will give you plenty of space to live and enjoy your life here with all the different activities on offer.
7. Access To Schools, Parks, Employment Centers, and More
When looking for a home, you need to make sure that it’s not only beautiful but also near public transportation. This is important because if your kids are going to school nearby or there are access points for work commuting routes. Since SF Bay Area is one of the major tech hubs in the US, there are plenty of employment opportunities here.
8. Low Crime Rates
SF Bay Area has a low crime rate which means that you can feel safe and at ease when venturing out day or night. This is important for anyone who likes to go on walks by the bay or other nearby areas since this city offers plenty of beautiful views worth exploring.
9. Prices Are Rising At The Fastest Pace
SF Bay Area is one of the fastest-growing cities in the US which means that prices are going up at a rapid pace. To make sure you stay within your budget, it’s important to do plenty of research on what kind of homes you can buy so they will be more suitable as time goes by and property values continue to rise.
10. You Can’t Buy Just Any House
As beautiful as it might be, the SF Bay Area is a competitive place to live in. If you’re looking for a home that will suit your lifestyle best and give you peace of mind, then make sure you do plenty of research before putting any money down on properties here because not all homes are created equal.
With all of the factors that go into deciding where to buy a home, it’s important to know what you want in an area. The SF Bay Area is one of the most desirable places for people looking for homes because there are so many perks. Get in touch if you want more information.
Are You Finally Ready to Buy or Sell a Home in the San Francisco Bay Area?
You’re ready to buy or sell a home in the Bay Area, but you don’t know where to start. It feels like the market is changing every day and the thought of going through this process alone causes an overwhelming amount of stress that only seems to get worse as time goes by. You want some information about whether or not it’s a good time to sell or buy and how to get started. That’s where the team headed by Lisa Chan Carnazzo, Realtor steps in to help! Together, we will explore your options, help pinpoint areas and provide honest feedback from our market research so you can make the right decision for you and your unique situation. Lisa is a Bay Area native who grew up in Piedmont, and also has the privilege of being an Emmy award-winning television journalist, reporting and anchoring on news stations like KPIX 5 CBS in San Francisco. You can still hear her anchoring on all news 106.9 FM and 740 AM KCBS! Lisa knows how to listen, work in a fast-paced environment and be persistent. Her team’s goal is not only to help you through the process but maintain a lifelong relationship while doing so. She has been successful as an anchor/reporter for more than 10 years which has given her some unique tools on what it takes from being both sides: buyer’s agent AND seller’s advocate. Contact Lisa today to get started!