Los Angeles is your dream city. It is the city full of actors, opportunities, beautiful people…and sadly, the city with expensive houses too because it is one the most popular city on Earth. But, fortunately, if your budget is not high, you can also find affordable homes in Los Angeles. But, you just have to be creative and prepared to make some compromises too. You can start a business in Los Angeles, or get your education. California has one of the most popular colleges. On the other hand, it is also a great city for a party, food, and movie lovers.
Los Angeles is the second most populous city in the US, with a population of almost 4 million. Also, it is the cultural, financial, and commercial center of Southern California. Because of that, it is a great place to live and work.
How to find affordable homes in Los Angeles: Follow our tips
If you want to find the best home for you and your family in Los Angeles without spending a lot of money, follow our instructions.
First step. Find a good location
The first question is, renting or buying a home? Regardless of money, your dreams must be met. LA has expensive houses and apartments. But, some of the neighborhoods have relatively cheap homes. Avoid the western part of town, and the neighborhoods such as Santa Monica, Venice, and Marina del Ray. The solution for that is to find a good location. Choose a home close to your work, and you will not have to pay for transportation. But, if your work is in the city center, where the rent is too much expensive, then you should live somewhere else.
Affordable neighborhoods in Los Angeles
You do not have to spend millions of dollars for a perfect home. We have found some cheap and affordable neighborhoods for you. Choose which is best for you, downtown or suburbia.
- Tarzana – Average rent for a person is 1,200 U.S. dollars, but if you want to buy a house, the median price is $674,150. Tarzana is the neighborhood in San Fernando Valley region, named after Burroughs’ fictional jungle hero Tarzan.
- Westchester – Houses are a little bit expensive if you want to buy it. The average price is $1 million. But, if you want to rent an apartment, the cost of that is %1,500 per person (2 bedrooms). Which is great. 40,000 people are living there, so it is a perfect place for families, nightlife, job, and education.
- Encino – The average house price is $900,000, and the rent is $1,200. Who says there are no affordable homes in Los Angeles? Encino is situated in the central portion of the southern San Fernando Valley There are a plenty of schools and parks, making it an ideal place for kids.
- Temple city – The average house price f you want to buy it is %760,000(that is cheap for LA). If you choose to rent an apartment, rent for one month per person is $950. Temple City has a Cuban and Puerto Rican community. In Temple City are events, such as Camellia Festival, Parish Fiesta, Farmers Market and others.
- Reseda – The median home value is about $530,000. And average rental will cost you about $1,300 per person. It has a lot of public and private schools, parks, a senior center and a regional branch library. In 2010 U.S. census counted 74,363 residents. A lot of films have been filmed or set in Reseda. Including The Karate Kid, Targets, Boogie Nights and many others.
Do not stick with the wishlist
Of course, you have a wishlist for your new home. But, be prepared for compromise. It is difficult to find a cheap place in LA. You will have to give up some things. For example, if you wanted to have one extra room for the guests or a big walking closet and bathroom with a hot tub, probably it will not be possible. Make a realistic wish list. How many bedrooms do you really need? Is it really necessary to have a large bathroom? Sit down, and write what you really need, and how much space will be enough for you and your stuff.
Calculate how much the monthly costs are for you
This is the important step. First, knowing your budget and outgoings will keep you away from bankruptcy. You can find a financial adviser to help you with that. Take into account all your expenses and calculate. Including food, transportation, student loan payments if you have not repaid them, your utilities. How much do you spend on housing? But also, spending more than 30 percent can be too much if you want to save money.
If you want to half your rent in half, try to find a roommate
If you are moving alone, finding a roommate is an excellent choice. Not only for a financial problem. You will not be alone in this large city. Also, after all, you will have a new friend. Post on your facebook profile or twitter that you are looking for a roommate, or you can find them on roommates sites. If you want affordable homes in Los Angeles, you have to be creative. But, If you are considering moving into a room in someone else’s apartment, make sure to meet the person before the move.
Quick and impulse decisions
Do not make fast choices. Finding a cheap home is stressful, of course. But, it takes time. Be patient. Also, imagine yourself in the house you have found. Walk around the neighborhood, and see what it offers. If you have any doubts about a home you just saw, probably it is not a home for you.iI
In summary, we hope that this article helped you, and gave you several tips for finding affordable homes in Los Angeles, CA. If you are buying your first home, Good luck! There are other affordable neighborhoods in LA.