Want to buy real estate in the California suburbs in the next five years, but are unsure where to look? You’ve come to the right place.
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High-demand locations like California suburbs are great locations, especially when looking at the economic growth projections. However, some suburbs are better than others, especially when considering factors like cost of living, the potential for property appreciation, crime rate, and more.
We asked two notable real estate experts for their insight about the best California suburbs to buy property in the next five years, and here is what they had to say:
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Folsom (Sacramento Area)
Literally translating to “a homeland,” Folsom offers a unique combination of affordability and a high quality of life. The suburb is well known for its excellent school districts, vibrant parks, and outdoor recreational opportunities.
“Compared to the Bay Area and Los Angeles, Folsom’s cost of living is much lower, which appeals to families and professionals looking for more space,” said Kenneth Sesley, a real estate expert and the CEO of Top Ranked Home Buyers.
The cost of living is one of the most affordable in all of California being cheaper than 308/449 cities, especially considering its quality of life.
The overall steady home prices in the Sacramento area also offer a reliable buffer to Folsom’s property market, providing long-term stability and the potential for strong property appreciation.
Additionally, the crime rate in Folsom is below the national average with less than half the average violent crime and below-average property crime.
Folsom lives up to its name as a homeland, offering a lower cost of living and solid home appreciation potential in a family-friendly, stable community.
Learn More: 6 Best Florida Suburbs To Buy Property in the Next 5 Years, According to Real Estate Agents
Irvine (Orange County)
Irvvin is known for its community lifestyle and superior facilities, including public services, schools, shopping malls, and parks.
“Irvine is known for its strong community, safety, and excellent amenities. It has been repeatedly ranked among the safest cities in the US,” Sesley explained.
In fact, Irvine was voted the lowest violent crime rate for cities above 250,000 residents for the 18th year in a row.
It will cost you to join this upper-class Irvine suburb, though. The cost of living in this city is 54% higher than the national average, which is largely due to the high cost of housing in Orange County.
The average house price in Irvine is $1,584,000, which is 246% above the national average. Even with such prices, Sesley believes that Irvine’s real estate market remains one of the best options for buyers, with steady local and international demands sustaining the appreciation of property prices.
Temecula (Riverside County)
If you are looking for a blend of affordability and serenity, Temecula is your go-to place in Southern California.
“The city offers spacious homes and larger lots at much lower prices than in Los Angeles or Orange County,” stated Sesley. The increase in the demand for suburban living is the driving force behind the city’s housing market steady growth.
Temecula offers a perfect balance of tranquility and modern living. “With its wineries, scenic landscapes, and top-rated schools, Temecula provides a relaxed yet refined lifestyle within easy driving distance to major job markets in LA and San Diego,” noted Sesley.
Its affordable property, expanding real estate market, and high-quality life near major Southern California cities would make anyone seeking to live to the fullest consider Temecula.
Poway (San Diego County)
“When compared to other San Diego suburbs like Carlsbad, Poway is a much more affordable option,” said Brian Mollo, a California Realtor & the CEO of Trusted House Buyers.
“Poway is great for community events and has a very down-home character, owing to its roots as a rural community, where agriculture was the main economic contributor until the 1980s when it officially became a city,” added Mollo. “There is a fantastic performing arts center that hosts many events yearly for those that live in the area.”
What amazes Mollo most is the affordability of the laid-back city of Poway. “Taxes in Poway tend to be lower than neighboring suburbs, which is primarily attributed to a lack of city income tax. Poway home values have been on the rise at a little ahead of some other San Diego suburbs as the city has been largely undiscovered compared to larger San Diego suburbs.”
He also notes that the changing housing landscape is reshaping Poway, making it a good property market. “As an investor, Poway is a great place to find homes that need a bit of work but can then be flipped for sale with a decent ROI.”
“As more and more of the older farms are handed down, the families tend to sell off parcels of land to developers, which has added to the rising home values in Poway, but an average 4-bedroom home is still below the median price in San Diego and Los Angeles.”
It’s also worth noting that Poway has a well-below-average violent crime rate and a property crime rate slightly lower than Irvine’s property crime rate, one of the safest cities in the US.
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This article originally appeared on GOBankingRates.com: 4 Best California Suburbs To Buy Property in the Next 5 Years, According to Real Estate Experts
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