Considering moving to LA - Need Advice on Neighborhoods (Los Angeles: 2014, to rent)

[Blitz2014]

Hey all,

I also posted this on the OC board, so I understand if mods will delete this due to duplicate, but I am also interested in moving to LA area.

Below is the post

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So I'm hoping to move to LA/OC (or Bay Area) in a couple years (2022).

My wife is from DC (Bethesda/Potomac area), and I need to convince her that LA >> East Coast. Anyways, she is open to move to west coast.

Combined income is around 500-600k.
Both of us are professionals.
We are hoping to have 2-3 kids (no kids yet) in the next few years.

Any suggestions for a couple in mid-30s, wanting to start a family?

Here is what we are looking for:

1. Multicultural/Cosmopolitan Area
2. Relatively good access to freeways
3. Close to International Airport (<30 min drive)
4. Good Schools
5. Warm Weather (main reason we are moving to Cali, I assume this is not an issue in LA/OC compared to Bay Area)
6. "Cool restaurants"
7. Being relatively close to downtown LA (<60 min ideally)
8. 3 bedroom, 3 bathroom home. I guess around 2500 sq?

We lived in NYC x 5 years, and we like areas like Park Slope, Bay Ridge (Brooklyn) for comparison.

What do you suggest is a good budget for what we want? We are first time home owner buyers.
I was initially thinking around 1.2 million, but my wife thinks I'm crazy to spend that much first time. So maybe around 800k? I'm not sure. Should we rent initially instead? I just hate dumping money into rent, been doing it all my life. How's the housing market forecast in LA/OC next 5 years?


Based on above, which areas would you recommend for us?

I have no idea where/which neighborhoods to even start looking in LA/OC!

Thanks!

[Texamichiforniasota]

Originally Posted by Blitz2014

Hey all,

I also posted this on the OC board, so I understand if mods will delete this due to duplicate, but I am also interested in moving to LA area.

Below is the post

-----------------------------------------------------------------------------------------

So I'm hoping to move to LA/OC (or Bay Area) in a couple years (2022).

My wife is from DC (Bethesda/Potomac area), and I need to convince her that LA >> East Coast. Anyways, she is open to move to west coast.

Combined income is around 500-600k.
Both of us are professionals.
We are hoping to have 2-3 kids (no kids yet) in the next few years.

Any suggestions for a couple in mid-30s, wanting to start a family?

Here is what we are looking for:

1. Multicultural/Cosmopolitan Area
2. Relatively good access to freeways
3. Close to International Airport (<30 min drive)
4. Good Schools
5. Warm Weather (main reason we are moving to Cali, I assume this is not an issue in LA/OC compared to Bay Area)
6. "Cool restaurants"
7. Being relatively close to downtown LA (<60 min ideally)
8. 3 bedroom, 3 bathroom home. I guess around 2500 sq?

We lived in NYC x 5 years, and we like areas like Park Slope, Bay Ridge (Brooklyn) for comparison.

What do you suggest is a good budget for what we want? We are first time home owner buyers.
I was initially thinking around 1.2 million, but my wife thinks I'm crazy to spend that much first time. So maybe around 800k? I'm not sure. Should we rent initially instead? I just hate dumping money into rent, been doing it all my life. How's the housing market forecast in LA/OC next 5 years?


Based on above, which areas would you recommend for us?

I have no idea where/which neighborhoods to even start looking in LA/OC!

Thanks!

How important is number 3? Really the only true international airport is LAX. SNA has flights to Cabo and Vancouver. ONT has flights to Guadalajara and Tapei. BUR and LGB don't have any international flights, but have a few flights to the East Coast and plenty of flights through the Western half of the country. If you need international flights, you are stuck with trying to find something within 30 mins of LAX (if that short trip is a 'need').

That's going to limit you to some expensive coastal and West-Side LA communities that are over your desired budget, or maybe a few South Bay Communities. Unless you are willing to do a townhouse/condo, Playa del Rey or El Segundo will be above your budget. Mar Vista, West LA, Venice, Hermosa Beach, Manhattan Beach, and Santa Monica are also out of your price range. The areas east of the airport don't have great schools and tend to have higher crime rates.

I guess Torrance and maybe Redondo Beach would be your best options. You'd have more options in a few of the priced out areas if you upped your budget to 1.5-1.8. If you don't really need to be that close to LAX, some areas in Burbank, Glendale, or parts of the San Gabriel Valley would be good options for your budget. The Santa Clarita Valley is more affordable and has decent schools, but it is pretty far from downtown LA and is pretty sub/exurban. As for OC options, I'll defer to the OC forum.

[Coast 2 Coast]

Los Feliz sounds like it might be a good fit. You're going to have to come up on your housing price point (no you are not crazy-think 1.5M), but you'll have to do that anyway given your list.

[nmnita]

Originally Posted by Coast 2 Coast

Los Feliz sounds like it might be a good fit. You're going to have to come up on your housing price point (no you are not crazy-think 1.5M), but you'll have to do that anyway given your list.

Still talking Los Angeles city schools. I would say OK: forget about the drive to the airport and concentrate on some of your "other" wants. Also 2500 sq ft might be a challenge. My thoughts on location would be Burbank, Glendale and maybe part of the San Gabriel Valley. Torrance may even be out of your price range, plus I have never seen the attraction Torrance holds and I have family members living there.

[BRinSM]

#1 piece of advice is to live close to work. You don't mention a work location, so I'm assuming you'll both work remotely. If not, that should weigh heaviest. #2, I'd highly recommend not buying immediately if you don't know the area, especially as first time home buyers. You don't need a 2500sf home for just the two of you. Live in the city and get to the know the area before you buy. Additionally, schools are still 5+ years off once kids enter the picture, so you'll have plenty of time to figure that out. And in the meantime, your buying power may increase and afford you options that are not currently available to you today.

Also, outside of SF proper, Bay Area weather is nearly identical to LA. Both have microclimates with areas of intense heat in the summer and other areas with more moderate temperatures. Either way, you can expect warm summers and moderate winters in both, though the Bay Area will be slightly cooler in winter. Bay Area housing is also noticeably more expensive.

[Commonproject]

If you have $500-600K combined income then your budget should be more like $2M+

[Texamichiforniasota]

Originally Posted by nmnita

Still talking Los Angeles city schools. I would say OK: forget about the drive to the airport and concentrate on some of your "other" wants. Also 2500 sq ft might be a challenge. My thoughts on location would be Burbank, Glendale and maybe part of the San Gabriel Valley. Torrance may even be out of your price range, plus I have never seen the attraction Torrance holds and I have family members living there.

Los Feliz has good schools. Not that Great School ratings are everything, but Los Feliz STEMM Magnet Elem is an 8, Franklin Elem is an 9, and Ivanhoe Elem is a 10. Starr-King Middle is a 7, and Marshall HS is an 8.

But, on average it's about 45-50 mins to LAX. One time at 5am I made it in 35 mins. I've had it take an hour as well.

The same budget problems would exist for OP, needs about 1.5-1.8 million for a 3/2 house, but it will be more in the 1500-2000 sqft range.

[DKM]

Rent for 6 months. It's a huge place and you want to get the feel of socal before plopping down on a million+ house.

[Blitz2014]

Wow, thanks for the helpful responses.

Some follow-up questions:

1) Which airports (outside of LAX) has the most East Coast flights? I guess I don't need an "international" airport, its just that I will be travelling a fair amount to east coast for business and family (Toronto/NYC/DC)? Because it appears living close to LAX is $$

2) Based on the above posts, it looks like the areas I need to zone in are:

Torrance
Redondo Beach
Glendale
Los Feliz
Burbank

Can somebody rank these based on $$$? I'm presuming Torrance/Redondo more $$ due to being on the coast?

3) Yes, people have suggested that when we first move, we should rent. I guess I'm just sick of renting, and want to own something. Plus, isn't appreciation in LA like 7-10% annually? Isn't Buying >> Renting, financially speaking? Or am I being delusional.

4) I guess I'm going to scrap wanting to be <30 min from LAX. I'll be happy to be <30 min to any of the other major airports, so feel free to suggest any other neighborhoods close to a major airport.

Basically, for us, the main priorities are:

1. Access to an airport
2. Multicultural/Diversity

5) Since, if we do buy, this would be our first place, I want to keep it around $1 million. So I'm happy to go down to 2000-2200 square feet, which is what it seems like is needed in the LA area. I'm also posting on the OC board, and it looks like OC is fair amount of cheaper, more house for $ it appears....

[nmnita]

Originally Posted by Blitz2014

Wow, thanks for the helpful responses.

Some follow-up questions:

1) Which airports (outside of LAX) has the most East Coast flights? I guess I don't need an "international" airport, its just that I will be travelling a fair amount to east coast for business and family (Toronto/NYC/DC)? Because it appears living close to LAX is $$

2) Based on the above posts, it looks like the areas I need to zone in are:

Torrance
Redondo Beach
Glendale
Los Feliz
Burbank

Can somebody rank these based on $$$? I'm presuming Torrance/Redondo more $$ due to being on the coast?

3) Yes, people have suggested that when we first move, we should rent. I guess I'm just sick of renting, and want to own something. Plus, isn't appreciation in LA like 7-10% annually? Isn't Buying >> Renting, financially speaking? Or am I being delusional.

4) I guess I'm going to scrap wanting to be <30 min from LAX. I'll be happy to be <30 min to any of the other major airports, so feel free to suggest any other neighborhoods close to a major airport.

Basically, for us, the main priorities are:

1. Access to an airport
2. Multicultural/Diversity

5) Since, if we do buy, this would be our first place, I want to keep it around $1 million. So I'm happy to go down to 2000-2200 square feet, which is what it seems like is needed in the LA area. I'm also posting on the OC board, and it looks like OC is fair amount of cheaper, more house for $ it appears....

I'm with you on the rent versus buying. We have moved many times and rarely rented first. I understand many think renting is a good idea but it is double move, you do not feel like you are totally a part of the community and you are throwing away money each month.

As for multicultural this fits almost all of So. CA. In fact it fits most of CA regardless where you choose to live.

Major airports: I would think John Wayne would be the best bet after LAX.

Redondo Beach would be my first choice if you can find anything even near your price requirements.

I think you are wise to have posted on the OC board as well.

Good luck with your move.