Hi all, new to REI and Orange County. I've been renting for 6 months now and have started to get curious about buying property as my medical training will lock me in to SoCal until ~2026 anyways. Not being from the area, I've loved living near the beach and really would like to continue doing so. However, as I'm early in my career, I don't have a ton of liquidity to work with right now. My big question is if it's realistic to find something reasonably close to the water between Newport and Long Beach from <$500k or if I should be shifting my mindset. I've been on CRMLS and it looks like there are a few options but the vast majority seem out of my price range so I wanted to reach out to the community for somebody with more experience in the area.
How close to the water? I lived in Huntington Beach for about a decade. You can probably get a condo or townhome within biking distance of the beach. However, I doubt within reasonable walking distance.
@Rob Painter , I’m seeing several 2/2 condos that are near the beach and under $500K.
I’d recommend house hacking such a property — live in one bedroom and rent the other.
You’ll get into a property you can afford to buy, keep your cost of living low, build up equity, and likely have a cashflowing asset when it’s time to move out.
Happy to help with the property search and underwriting!
Hey Rob, I'm helping some friends find a property in that area and it is definitely doable. There are a lot of options available to you, especially if you're open to a condo or townhouse. Hope you're able to find something that will work for you for the next 5 years or so! Best of luck
Buying something near the water in that price range might be tough. Just know that you will be getting something with A LOT of work to be done. Maybe you can move further in land where there are better prices. Check out Anaheim / Santa Ana / Orange area. Those places are only a 20-30 minute drive from the beach but prices there are much lower. Good luck!
@Kevin Purvis definitely something within biking distance. As long as I don't have to worry about parking I don't mind an under 2 mile ride to and from! Appreciate your thoughts
@Jon Schwartz Absolutely, house hacking would be the only way I could make this work. I've already linked up with a few people in the mortgage process but if things start to fall through I'll absolutely keep you in mind. Appreciate the advice.
Thanks @Tyler Hungerford ! Maybe I'll be seeing your friends out in Newport or Long Beach. Happy hunting.