Can You Afford to Buy a Home in Orange County, California in 2024?

This video is essential for anyone considering buying a home in Orange County California, as we dissect two critical financial aspects:
✅ Initial Investment: We unravel the average cost of purchasing a home in Orange County, detailing the necessary down payment and other upfront expenses. This segment provides a clear view of the initial capital required to embark on homeownership in this desirable location.
✅ Income Requirements: Discover the annual household income needed to comfortably afford the average mortgage payment in Orange County. Our breakdown considers current mortgage rates, property taxes, and additional homeownership costs, offering a comprehensive overview of the ongoing financial commitment.
Whether you're planning to buy your first home or contemplating a move to Orange County, this video will arm you with the key financial insights needed for 2024. Join the conversation in the comments section and share your thoughts and questions on affording life in Orange County.
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Josh Alexander
THE brokeredge
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-----------------------------------------Buyer Resources-------------------------------------------------
FREE Guide: How to Budget for a home - vid.us/70npzs
Free Guide: Thinking of buying a home, want to know the process and costs involved? - vid.us/kk81kx
Want to schedule a time to talk one-on-one? - calendly.com/joshalexanderrea...
----------------------------------------Seller Resources--------------------------------------------------
FREE Guide: Learn how to get your home ready for sale and the steps you should take to make the most money possible - vid.us/hbk9zc
FREE Guide: Thinking a selling your home and want to know the process and costs involved? - vid.us/7j8wtf
FREE monthly value update: Want to get a monthly update on your home’s value? hmbt.co/FpQZKP
Want to schedule a time to talk one-on-one? - calendly.com/joshalexanderrea...
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[@gabrielarye6052]

Wow! So then owning a property for a normal person in the OC sounds pretty impossible.

[@JoshAlexanderRealEstate]

If you are single it's definitely more of a challenge, with dual household incomes it gets easier but yes it's still one of the priciest places to live because of the weather and lifestyle here. Because of the high interest rates and prices there will be a significant chuck of Orange County residents where it doesn't make financial sense for them to purchase right now. Hopefully we will see rates continue to come down from last year's highs making it a little more affordable as we enter the back half of 2024

[@magicmike1122]

prices are toooooo high

[@JoshAlexanderRealEstate]

and for buyers they keep rising unfortunately, and with this new NAR ruling that was just announced I wouldn't be surprised to see a flood of home buyers enter the market over the next few months trying to get a home before they will have to end up paying more out of pocket making home prices rise even faster.

[@dat.lynguyen4156]

Supply demand ... too many people love OC ...