October 25, 2024
Buying your first home is a major life milestone. Some consider it the final frontier into adult life, while others may see it as a stepping stone to bigger and better things. Whatever the case, there is no denying that closing on that first house is special in the grand scheme of real estate transactions.
Since it comes at a time in your life when finances may be a bit tighter than they will be later in your career, it is crucial to know exactly what you want and need. Keep reading as we explore some important features first-time home buyers should keep an eye on in the Bay Area!
It is cliche to extoll the importance of location in real estate. However, when considering the Bay Area market, there is simply no way around it. Simply put, there will be many homes and neighborhoods out of the price range of most first-time buyers. But that does not mean that a piece of the market is completely out of reach. It just takes a bit more leg work to find properties with untapped potential. Read local news stories and keep tabs on city council plans. Check to see if any new businesses, schools, or public works are in the offing. If so, more affordable homes today may skyrocket up buyers’ priority lists in the years to come as development takes shape.
California is among the most progressive states when it comes to sustainability. For example, all new builds within the state must incorporate solar panels for renewable energy production.
As such, being on the wrong end of this sustainability trend is no way to go when looking for your first home. Not only will an energy-inefficient home contribute to higher monthly utility costs, but it will require extensive renovation to appeal to an increasingly conscientious buyer’s market when it comes time to resale.
In addition to PV technology, some sustainability features to keep an eye on are homes that use the best insulation for exterior walls; properties that have durable, low maintenance floors and countertops; and houses that have a robust window infrastructure for improved natural daylighting.
Along the same lines, be sure to prioritize fire-resistant roofing. Homeowners’ insurance is increasingly difficult to obtain for some California properties, so any features that limit the threat of fire should be seen as a major benefit.
The Bay Area is one of the most picturesque places to live in the world. The unique combination of calming waters, lush vegetation, and year-round temperate climate are found nowhere else in the United States. With that said, it is crucial that a home be able to maximize enjoyment of this climate via functional exterior space.
Look for decks and attached patios with overhead pergolas for easy access to the outdoors. Prioritize properties that feature durable permeable pavers for stone walkways and patio flooring. Search for backyards adorned with native plants, gravel gardens, and other low maintenance features for ongoing beauty.
It is understandable if your first home is not your dream home. In many cases, first-time buyers simply have to take what they can get--especially in a market as competitive as the Bay Area. However, it is also essential to have a big-picture view before jumping in head-first. Young adults often go through significant career change as they start their upward trajectory. Will the home accommodate a remote working atmosphere if necessary?
Furthermore, children sometimes come along. Is there enough room to accommodate a new addition to the family? Even if the size and layout is “good enough” for your needs today, it is important to assess if that will be the case in the near-term future at such an exciting and dynamic time of life.
Walking through many Bay Area neighborhoods is akin to walking through a postcard. There are just so many homes that create that idyllic impression of home. As such, if you want your first home to have commensurate value when it comes time to resale, it is crucial to determine if its curb appeal is up to snuff. Determine whether the siding can be maintained with a high-quality paint remover and biennial paint job, or whether an upgrade to inorganic siding may be necessary. Assess the quality of the roof to see if it adequately reflects that condition of the home. Make sure the windows are clean and contemporary to enhance the home’s sense of vivacity.
In many markets, it is often more affordable for first-time buyers to live in the outskirts and commute into town. This may not be the case in the Bay Area. Traffic can be challenging (to say the least) and parking costs are among the highest anywhere. Therefore, it is worthwhile to consider properties that are in close proximity to healthcare, schools, and grocery stores.
Also consider the public transportation situation. Even if you have to pay a bit more for these types of listings, you will save a ton on the cost of daily commutes.
Any way you want to shape it, buying your first home is a special occasion. As such, it is crucial to know which features to prioritize when researching properties. For more of the latest home trends shaping the Bay Area, explore the resources at Legacy Real Estate for the leading market insights!
Author Bio
Max Shafer is a freelance writer who loves sharing his knowledge and expertise on home improvement projects and materials. He lives in Land O’ Lakes, Florida where he enjoys spending time with his wife and working on projects in his spare time. Max’s work as a freelance writer can be found on Building Product Advisor, a construction industry resource site.
Stay up to date on the latest real estate trends.
November 2, 2024
In October there were 26 home sales in Pacifica. Closed listings range in price from $600,000 to $2,210,000. The closed listings had a median price per square foot of … Read more
October 25, 2024
Make your home buying a reality for 2025
October 18, 2024
Total San Francisco inventory rose 37.1% month over month
October 9, 2024
You’ve got questions and we can’t wait to answer them.