What You Should Know Before You Buy a Home in Malibu
Posted in: Commercial,Residential
On November 1, 2022

Looking for a Malibu home can be difficult as there are so many beautiful properties to choose from. To help you make a final decision that you will be happy with for years, here are the things you should know before buying a home in Malibu. 

What Realtor to Use

There are a lot of realtors operating in the Malibu real estate market and some of them are better than others. A good realtor will get a feel for the kind of property you are looking for and they will be able to show you a selection of excellent homes based on your requirements. They will be able to negotiate with your seller so that you get the property you want for a decent price, and they will advise you on the best legal team to use. They should make your purchase seamless so that you can move into your new home without too much hassle. 

Your Price Range

Know Before You Buy a Home in Malibu

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There is no point looking at beautiful, luxurious homes unless you know that they are in your price bracket. Otherwise, you will end up falling in love with the house of your dreams and then being heartbroken when you realize it is out of reach financially. 

Before you start looking at homes you should speak to a mortgage advisor and find out how much you can afford to borrow. Add your possible mortgage to your existing deposit and that is the price range you can start looking in. However, you should be happy that you can afford the repayments as well as your existing financial commitments so that you don’t run into financial issues once you have bought your dream Malibu property.

Your Preferred Neighborhood

There are numerous wonderful neighborhoods in which to reside in Malibu, but it depends on what you are looking for as to which is the best area. For example, if you are looking for a beachfront property then Malibu Colony offers some fabulous properties. If you want a little privacy, then you may prefer Broad Beach. If you need to be close to LA, then you need to be looking in the east of the city as this will cut down your commuting time. Once you have decided where you need to be you can narrow down your options. 

Your Requirements

Know Before You Buy a Home in Malibu

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Write yourself a wish list of what features you want your dream home to have. Then divide this list into two columns. On one side, put your non-negotiables, and on the other side, put the things you are more likely to compromise on. For example, if you have three kids, you might need the property to have at least four bedrooms. This might be non-negotiable. Ideally, you would like everyone to have their own bathroom to save arguments or morning bathroom hogging. However, if you think you could work around this then put it on your list of things you could compromise on. 

If you are lucky, you might find the perfect house that contains all your desired features. However, there will probably be room for compromise if you find an almost perfect property. Don’t forget that you could always add to your home once you have moved in if there are features you want but the property doesn’t offer them. 

Utilities

Once you have found a property you want to buy, you should consider the utilities it offers and how you access them. There are only a couple of areas in Malibu that are connected to the city’s sewerage system. This means that storms don’t force sewage into your home. Many properties have a septic tank on the land, which is a better idea, but you still might need to go through the hassle of having it pumped out in the event of a storm. Some homes in the area have gone green and rely on solar panels or use net zero emissions. These may appeal to you more if you are interested in environmental issues. Whatever your preference, make sure you can live with the property’s utilities access before you put in an offer. 

Structural Issues

Know Before You Buy a Home in Malibu

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Before you close on a property, have it surveyed to make sure that there are no issues with it that will cost you money to put right once you own it. Use a qualified surveyor to thoroughly survey the property and report on the results. At this stage, it won’t be too late to back out of the purchase if you find the property needs a lot of work. Don’t be disheartened if the residence needs some work though as you may be able to use this to renegotiate the price if you are willing to get the issues fixed. 

You should consider these six things before you put in an offer on your dream residence in Malibu. This will ensure that you get the best property for you at the right price. 

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