10 Things to Consider When Buying Your First Home in Silver Lake

10 Things to Consider When Buying Your First Home in Silver Lake

  • Flores Real Estate Group
  • 04/3/23

Between its vibrant artistic spirit and splendid architecture, Silver Lake — one of the most coveted and trendiest enclaves in Los Angeles — deserves every bit of the acclaim it has received. Frequently deemed one of the hippest and liveliest hamlets in Southern California, the home of the gorgeous Silver Lake Reservoir abounds with beauty and character, rendering it a fabulous place to call home.

But finding the perfect home in this desirable district isn’t as straightforward as you might imagine. With this in mind, the Flores Real Estate Group has compiled this list of 10 factors to weigh when purchasing your first home in the area.

It’s crucial to work with a seasoned, local realtor

Home-buying apps abound, and at the onset, purchasing a home may seem simple. And yet, home purchases are a nuanced matter that requires the expertise of a consummate professional.

While Los Angeles as a whole has a wealth of realtors, it’s imperative to hire a buying agent who knows Silver Lake like the back of their hand, particularly if you are new to the region. They can advise you on the more critical aspects of the home-buying process, from the appropriate purchase offer to key contingencies. A local agent will also assist you with getting set up in your fresh, new life, whether that means securing the name of a reputable dentist in the neighborhood or knowing exactly where to go for late-night sushi. Interview two to three Silver Lake realtors before arriving at a decision, and ensure they have a thorough understanding of your needs and wants.

Not all Silver Lake neighborhoods are the same

Here’s another reason to prioritize working with a realtor who specializes in Silver Lake houses for sale: Not every street, or neighborhood, may be ideal for you and/or your family. If you have school-aged children, you may want to be a short drive or walk away from the highest-ranking schools in the area. Singles and young couples may want to live within walking distance of Silver Lake’s thriving downtown, where they can find Sunset Junction and a bevy of bars, boutiques, coffee houses, and cafes. Outline the primary traits you’d like your dream street to possess and hand over the reins to your savvy, trusted realtor.

Determine your ideal size

When buying a home, it’s all too easy to think of the size of a home in terms of bathrooms and bedrooms. And yet, what if the bedrooms are too small and the bathrooms don’t accommodate your height? A more logical strategy is to consider, and figure out, the square footage you would need to feel happy and comfortable — both now and in the future. 2,480 square feet are the average for single-family homes, but you may need more or less space, depending on your circumstances and life plans. Bear in mind that the size of the Silver Lake home you procure will also influence its resale value.

Evaluate the home’s orientation

You may find the ideal Silver Lake home in terms of size, floor plan, and location. But what if its orientation on the property limits (or completely blocks) the amount of sunshine it receives? Or what if it’s positively flooded with sunlight, so much that you have to squint inside during the late morning and crank up the AC? In other words, ensure you visit the home at different times throughout the day to understand the level of light it sees.

Assess the home’s storage space

Storage space may be overlooked if the beautiful views or exquisite architecture bowls you over. And yet, once you’ve been in the home for longer than a week, you’ll surely note that inadequate storage results in distracting clutter. Explore the home’s garage (if applicable), pantry, closets, and more to ascertain if it can hold all of your belongings and those to come.

Weigh the outdoor area

If you love to entertain under the starry Los Angeles night sky, you’ll probably want to ensure the home you’re interested in boasts a backyard or deck that can easily lend itself to guests. Likewise, if you have pets that will be spending time outdoors, check the property to see if it has a fence or can accommodate one down the line.

Understand the parking situation

Los Angeles is notorious for its limited parking spaces. Unless you have a designated garage, be sure to cover where you, the other members of your family, and your guests can park and if this is acceptable to you.

Don’t go without a home inspection

Purchasing a home without having a comprehensive grasp of its genuine condition is akin to buying a shiny car without peeking under the hood. Any Silver Lake realtor worth their salt will insist on an inspection clause to help guarantee you are not purchasing the equivalent of a lemon. A licensed home inspector will evaluate the property, from its foundation to its roof and from its electrical system to its plumbing (and beyond), to alert you to any repairs that must be handled now and in the imminent future.

…but don’t get too caught up on minor surface flaws

A touch of scratched paint on a sideboard, a yard that could use some love and affection, a bathroom that might benefit from new shelves — if you’ve found a home that fulfills your other wishes, don’t let these small details, which you or your contractor can handle, dissuade you, especially in a competitive market like Silver Lake real estate.

Shop for lenders

Once you’ve fallen in love with a home, you’ll want to assume ownership quickly and may be tempted to go with the first lender you check out. In a word: don’t. Rather, shop around to find the best lender that will fit your needs, now and in the foreseeable future, particularly if you plan to refinance at some point. A superb realtor will be able to point you in the right direction and refer you to a lender with a solid reputation.

The Flores Real Estate Group is one such cluster of realtors. Our gifted team is hailed for the care, compassion, and commitment we bring to every client relationship and the satisfaction we always deliver. Schedule a consultation with Sergio today to turn your dream of living in Silver Lake into a reality.

*Header photo courtesy of Flores Real Estate Group

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