Moving to Los Angeles: The Guide
If you’re considering packing up and moving to Los Angeles, California – you’re going to need to be prepared for every possible situation. Nearly four million people are living in the city of Los Angeles and the number is only growing. LA is considered one of the most culturally diverse and naturally beautiful places to live in the entire nation! The weather remains perfect all year round and there are plenty of opportunities and activities to keep you busy and entertained.
If you’re looking to enter the entertainment industry, Los Angeles is the main hub for all things entertainment! But finding out where you’re going to live is a necessity if you’re going to take the risk of making it big in the industry. Fortunately, Neighborhood Loans has you covered, keep reading to learn everything you need to know about moving to Los Angeles.
The history of Los Angeles dates back to 1781 when settlers from New Spain landed there and set up camp in what is now Downtown LA. In 1848, when the United States took control of the land, it became a place for farming, oil, real estate, other industry, and filmmaking. Over the years, railroads started to connect people across the nation, bringing new people, goods, and businesses to California and LA. Around 1950, after the war, the land was cheap and being bought up quickly by developers – Walt Disney was one of those developers and opened Disneyland in 1955. The population continued to grow rapidly through the early 2000s and has since slowed down due to a high barrier to entry.
Cost of Living* (figures from Zillow)
The average cost of a home in California is generally over $600,000, which is much higher than the national average. When you get into Los Angeles, the cost of living is even greater than in the rest of California. Within Los Angeles, the average cost of a home is nearly $950,000! The location and perfect year-round weather will keep home prices the highest in the country for years to come.
If you’re hoping to make the standard down payment of 20% on a home, you could be in for some serious planning. There are specific requirements you’ll need to meet in order to get approved by a lender.
Renting in the city is usually a much more affordable option for those on a limited budget. If you can live with roommates, finding a comfortable place within your budget could be a bit easier! The average rent of a one-bedroom apartment in the Downtown LA area will cost you around $2500 monthly, and that could be considered cheap compared to some other places in LA.
Public Services and Education
You’ll want to take into consideration the public services offered for your tax dollars and what exactly they are going to do. They aren’t a cost you can avoid, but with a high cost of living, you need to make sure you can comfortably afford a home and the neighborhood that comes with it. There are also other costs like Homeowners Association (HOA) fees and Private Mortgage Insurance (PMI). For more information on the public services provided within the LA county, visit https://dpss.lacounty.gov/en.html.
Once you’ve decided on what Los Angeles neighborhood you want to live in – hire a real estate agent and start asking them the essential questions. They’ll have all the information on the local services and public schools that you need and want to know.
Real estate agents are a valuable tool when it comes to finding and making an offer on a property or vacation home. They can help you negotiate and finalize the purchase contract while making sure you are comfortable from start to finish. Some people are hesitant to work with an agent, as they come with a cost – but once you find the right one, you’ll see why they are so valuable in the industry.
There are great education options for all levels throughout the state of California. Whether you’re sending your children to school, attending college in-state, or want to pursue a post-graduate degree – there are many options for you or your family. Compare and contrast the different school districts in the neighborhoods you are considering.
Exploring the famous landmarks of Los Angeles is just one of the treats of living there. Naturally, due to the great landscapes and entertainment industry, tourism is massive for the entire start of California and LA.
There are many National Parks surrounding LA and throughout California. If you enjoy exploring nature and mountains, some National Parks you can easily visit near LA is Joshua Tree National Park, Death Valley National Park, and Sequoia National Park.
The Los Angeles Theatre is a historic landmark on Broadway in LA. It was constructed in the early 1930s and closed its doors to the public in 1994. Now it can be rented out for private events and is frequently used as a filming location. If you ever get the chance to attend an event or peek inside, don’t miss the opportunity.
The Hollywood Sign is an iconic staple of Downtown LA and sits on top of Mount Lee of the Santa Monica Mountains. It was constructed in 1923, but the original sign was replaced in 1978 for a more durable structure. You can hike the mountain and visit the famous sign up-close if you’re up for the challenge.
There are an endless number of places to visit and explore when it comes to LA and California. There’s something for everybody in the area and you just have to take the time to find it. Los Angeles has a rich history and is full of exciting opportunities.
Sports are a large part of the culture throughout Los Angeles! There are professional Football, Basketball, Baseball, Hockey, and Soccer teams just in LA. There are more throughout the state of California – but if you want to blend in – pick up sports gear for these teams.
The Los Angeles Rams and The Los Angeles Chargers are the professional football teams that play in the city. The football season is played from September to January, and even a bit longer if your team makes the playoffs.
The Los Angeles Lakers and Los Angeles Clippers are the professional basketball teams that play in LA. The basketball season is played from October to April and potentially into June if your team makes the playoffs. There is also the Los Angeles Sparks, the women’s professional basketball team.
The Los Angeles Dodgers are the professional baseball team in the city. The baseball season runs from April to September, and sometimes even into October! There are more professional teams throughout the state and each stadium is worth visiting at least once!
The Los Angeles Kings are the professional hockey team in LA. The hockey season runs from October until April, and then even further if the Kings make the playoffs. There are three total professional hockey teams throughout California!
The LA Galaxy and the Los Angeles FC are the professional soccer teams in the area. There is also a women’s professional team named Angel City FC! “FC” stands for Football Club, since soccer is called football in other parts of the world! The professional soccer season runs from late February to early October!
For more information on any of the sports teams or events in Los Angeles, you can research them online! LA is a huge sports town and rooting for the teams in the area will help you meet new people in the neighborhood.
The Next Steps
The City of Los Angeles and the state of California can be wonderful places to purchase a home if you can see yourself living there for a long period of time. Owning a home comes with a lot of responsibility and making sure you’re properly prepared for homeownership is crucial to becoming a successful homeowner.
At Neighborhood Loans, we firmly believe that the dream of owning a home is achievable for everyone. We are excited to answer your questions and guide you to becoming a confident homeowner. For more information, reach out to us today or visit us online at www.neighborhoodloans.com.