Living in California is like a dream come true for many people. But let’s face it, not everyone can afford it. If you happen to be one of the few that can, know that the luxury real estate market in California is booming, and there are plenty of places you should check out. We prepared just the right list for you. However, you need to be sure that one of these charming places is for you. As you probably are aware, luxury places are not for everyone. Not just because a limited amount of people can afford to live in them, but because some people simply don’t like their vibe. Because of that, we suggest you first figure out if this is something you want. Buying a luxury home is probably going to be the biggest purchase in your life, and you need to be sure before you close the deal.
The first place to look at the luxury real estate market in California is Palo Alto
When it comes to luxury places in California, with Palo Alto you can’t make a mistake. Here, no matter what you choose, you won’t regret it. Palo Alto is located in Santa Clara County, and there are 68,624 living in the town. It is one of California’s best places to live if you can afford it. Here, the area feels urban and suburban. There are plenty of restaurants, coffee shops, and even parks. You can also find many exciting places in the harbor and next to the beach. Most of the residents in Palo Alto are young professionals. And it is not a surprise, considering all the possibilities you can have here as a young adult. However there are also schools here, but private ones are a majority.
When it comes to prices, living in Palo Alto is quite expensive. Typical homes are also extremely expensive, costing an average of $2,000,001. The median rent is also much higher than the national average, $2,950. Regardless of the price, most of the inhabitants here are owners, especially since people who decide to live here are fully into living in luxury. And for that money, you need to have everything. However, a home is not the only purchase you will have. When you decide to buy a new house there, you need to engage experts in the process. There are plenty of local movers from Palo Alto, but you need the best ones to help you out with this relocation. Moving is stressful enough as it is. So, there is no need to add more unnecessary stress when it can be avoided.
We think you should check out Malibu
Malibu is one of the most popular places in California. And that is, for sure, for a reason. It is a place known for luxury, parties, and cocktails. Well, it is like that in real life. It is not only a story that people are telling. Malibu is actually a suburb of Los Angeles, but even so, more people are rushing to Malibu to buy a home rather than do it in LA. There are 10,915 inhabitants living here, and most of them are retirees, believe it or not. However, you can find a lot of young professionals as well. This is definitely not one of the affordable suburbs, and that is why you need to reconsider if you would live here a couple of times until you are sure of your choice.
The area feel in Malibu is sparse and suburban, and despite the situation with prices, there are 76% of owners. The median rent in Malibu is $3,067, while the median home value is $2,000,001. Same as in Palo Alto. When you want to live in a luxury home, it is essential to explore the safety of one place. You don’t want burglars coming into your home. You will be pretty much safe here when it comes to Malibu. Security in this suburb is quite good, and very few to no thefts happen in a year. And even though this suburb is not huge, you will be able to enjoy your luxurious home from the infinity pool looking at the ocean. Here, people really know how to enjoy their lives.
When it comes to some of the best luxury real estate market in California, Santa Cruz is one of them
Even though it is slightly cheaper, Santa Cruz is considered among the best luxury real estate markets in the States, not just California. This is a town located in Santa Cruz County, and it is, without a doubt, one of the best places to live in California. A total of 62,714 inhabitants are living here, and most of them are young professionals. Here, you can find anything you could possibly need. Restaurants, bars, coffee shops, and even plenty of parks. There are also excellent schools, both public and private. So, if you have children or plan on having them, they can attend school in the town.
As we mentioned, Santa Cruz is more affordable than other places we mentioned. Here, the median home value is $933,000. Which is acceptable for a luxury home. However, the median rent is not that lower. It is $2,072 per month. Even so, there are more renters in the area than owners. Since your goal is a luxury home, renting won’t be worth considering. The good thing about purchasing a home for a lesser price is that you can invest more money when you need to find reliable crews to help you. On a moving day, you will need help from professionals, and there are locals from Santa Cruz that can help you a lot.
For sure, you know how life in Beverly Hills is
We all know Beverly Hills is the home of many celebrities. And they, for sure, all lead a luxurious life. So, if you want to live like that, Beverly Hills is the right choice for you. First, it is essential to know that Beverly Hills is a suburb of Los Angeles. There are 32,903 inhabitants, and most of them are either young professionals or retirees. No matter what you need, you will find it nearby. The area feels urban suburban, and this is one of California’s best places to live. Also, the views are great from the hills, and having a home with such a view will be difficult to leave.
Prices in Beverly Hills are more or less similar to those in other regions around. The median home value is $2,000,001, while the median rent is $2,422. And believe it or not, there are many more renters than owners. If you choose to buy a house in Beverly Hills, though, know there are many mistakes you should avoid before buying a luxury home, so make sure you are aware of them.
Last but not least, Newport Beach is also among the best luxury real estate market in California
Orange County, in general, is one of the most luxurious counties in California and in the States. With that, you should already know that Newport Beach is the same. This place is a town with about 85,806 inhabitants. And they can all confirm that living here is the best decision they have ever made. Most of them are young professionals and retirees. Here, you will notice an urban and suburban mixture of feelings. And there is everything you could need without going to some bigger cities nearby.
Regarding prices, you should know immediately that the median home value here is as high as in other places, which is $2,000,001 on average. The median rent is $2,644, but even so, most of the residents are rather owners of their own homes. We advise you to rethink and wait until you are sure enough to make a final decision. You need to be careful since a home is not something you can simply return if you change your mind.
There are even more places you should consider
This article suggested some of the most common and luxurious places. But the luxury real estate market in California is much more than this. There are countless options and possibilities. It all depends on your preferences. So, you should ask yourself what you really want and need. When you have an answer, it is much simpler to do the rest. You mustn’t rush with your decision. You will have more than enough time. And this is that time when you need to be picky. Making a decision overnight can lead to some consequences later on. Also, this is not something you should decide on your own. Include all other family members so you can decide together. It’s the only right way to do it.
Lisa Roberts has been engaged in writing blog articles for the last 7 years. Although she started off her career in the moving industry, her experience brought diversification to the content topics she covers. Today, her range of topics spans from moving across the globe to everyday lifestyle tips, marketing, real-estate news, etc. In her spare time, Lisa enjoys running, reading books and spending time with her dogs Lue and Sill. As a great lover of life, she finds something practical and useful in every experience, which contributes to her portfolio as well.
