I am currently finishing up my junior year of college in PA but I have a strong desire to move to a different area following graduation. One area that has caught my attention was Huntington Beach. I am interested in that area as well as surrounding towns on the coast. My question for anyone with knowledge of that area is what is the real estate market like?
If I were to move there I would want to house hack in order to make living more affordable and then also hopefully get involved in vacation rental properties or single family homes.
If anyone has any input I would greatly appreciate it!
Living won't at all be 'more affordable' if you househack on any of the SoCal beaches, or even really the surrounding towns. Prices are crazy right now.
Ultimately, the numbers don't work for cash flow anywhere near there. But that doesn't mean you can't move there.
For general househacking considerations-
For Huntington Beach, focus on the numbers part of that article.
@Darin Gordon , Huntington Beach, California is a great place! Many people have the dream of living in Southern California and if you're going to live here the best way to do it is by "house hacking".
While it is difficult to cash flow here you can offset some of your mortgage by renting out rooms or buying a multi-unit property and renting out the additional units.
Just because you may not live here for free doesn't mean it's not a place you shouldn't come to. You're young so take advantage of what you have available to you now.
If you are going to be house hacking and renting out the rooms in your house then you'll probably want to be walking distance from a university such as CSULB, CSUF, or Chapman University. None of those are in Huntington Beach but they do have neighborhoods that have more to offer than HB for a house hacker.
i think vacation rental is risky for beach front area in California. Residents in those area (such as Del Mar) are not happy with parties who rents for weekends (Article Here),and taking to court to try to ban short term rentals. If you buy a place, there's a risk that city might ban it from short term rental at some point.
My mom's family is from the Harrisburg area. My grandfather is in the Lebanon Valley College Sports Hall of Fame. I'm a local in HB. My specialty is buyer's in the $500k and under market. I've seen the dramatic increase in values, especially in the last 4 years. There are some niche pockets that are very affordable. The key is to start small and build a foundation. Fortunately you have time on your side. I would suggest starting with a 2br unit. Renting 1br could bring in $800-$1000 mo. There a plenty of professionals who want to live in Huntington because of the weather, schools, and easy access to the beach, freeways, & dining. All these factors keep demand high and make HB the ideal location to own and rent. I would be happy to help you focus your search. Definitely interested in learning more about you and your plans.