Is your child attending, or about to attend UCLA, one of the world’s top universities? Are you wondering where your baby is going to live? For ease, comfort and added security, buying a Los Angeles condo may be a good option.
Renting a condo in Los Angeles, can be a daunting task. You are not sure about the area, rentals are expensive, and you are concerned about safety. Also, when you come into town to visit it would be great to have somewhere to stay.
Buying a condo in Los Angeles near UCLA makes a lot of sense. The market is at or near bottom right now, and mortgage interest rates are low. In three or four years appreciation should take hold and you will get your money back and maybe even make a profit.
In which Los Angeles areas should I consider buying?
Areas easily accessible to UCLA include Westwood, Century City, Brentwood, and Santa Monica.
How much will I have to pay for a Los Angeles condo?
Depending on the area, you could effectively find a nice condo from the mid $400,000 to low $700,000s. You do have to take into consideration the Homeowners Association dues which can run from the mid $200s to high $400s and up. This would exclude the Wilshire Corridor where HOA dues can run as high into the high teens for a medium-priced unit.
But overall, buying a condo in Los Angeles could make sense for the four or more years your child will be attending UCLA.
Below are some examples of condos in the Westwood/Century City area, under $700,000.
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