How Much Does it Cost to Buy a Home in the Bay Area?
Did you know that some Bay area homes have increased by over 20% in value over the last few years?
This means that if you bought a home in some areas of San Francisco for $1 million a few years ago, that same home would be worth over $1.2 million today.
When it comes to the housing market in San Francisco, things have been going up for a while now. While experts suggest this is connected to the tech industry that dominates the local economy, others say the culture attracts creatives to the city.
Looking to buy a home in the San Francisco Bay Area? You’ve found the right blog. Here’s everything you need to know about living in San Francisco along with the different Bay area neighborhoods.
Benefits of Living in San Francisco
San Francisco is one of the most beautiful cities in the world. This is why millions of people around the world make it a point to come and visit this iconic American city. This amazing city is full of life and culture; no wonder the demand for property is so high.
Thinking about moving to San Francisco? Here are some of the benefits of moving to the Bay.
You’ll Never Get Bored
If you move to San Francisco, you will always have something to do. The city is one of the most culturally rich cities in the world. With this, there are art studios, museums, and interesting historical sites all over the city.
Even if you are not into art, there are tons of restaurants and cafes to try around the city. With thousands of options, you can try something new every weekend for the rest of your life!
Nature’s Not Far Away
San Francisco has nature on its doorstep as well. Whether you’re looking for a hike or biking trail, the Bay area has it all. The Golden Gate Park is much larger than Central Park, widely regarded as the best urban park in the world.
The park has spots for picnics while also displaying a beautiful flower display in the Conservatory of Flowers. This makes it perfect for an afternoon stroll or a photoshoot if you’re in the mood.
A Melting Pot of Culture
Even before the tech boom, San Francisco has always been known to be one of the most diverse cities in the country. It’s actually one of the top 15 most diverse cities in the world.
Living in San Francisco will allow you to experience several different cultures every day. With hundreds of languages spoken in the city, you’re bound to learn something whenever you leave the house.
Efficient Public Transportation
While you may know about the iconic street cars, San Francisco has a much larger public transit system. The San Francisco Municipal Railway handles around 220 million passengers a year. While this isn’t as big as the New York City subway, the number of faults and delays per capita is far more impressive in the Bay.
San Francisco is also a bikeable city. With most of the city having dedicated biking lanes, you’ll be able to get around town easily on your own. This is also the greener option for those looking to reduce their carbon footprint as much as possible.
No Lack of Restaurants
There are thousands of restaurants and food stalls in and around the Bay area. From Mexican to Indian, Asian, and African cuisine, you can experience it all. While there are thousands of options, there is also a great variety of styles and atmospheres.
This means that whether you’re looking for something fancy or casual, there are most probably tons of options for you to choose from. There are even a few Michelin-Starred restaurants in the Bay area for those special occasions.
The Best Bay Area Neighborhoods
It’s no secret that San Francisco property is not cheap. With property prices showing no signs of slowing down, here are some of the best neighborhoods to invest in.
As the most expensive neighborhood in the Bay area, Presidio Heights comes with hundreds of restaurants, picnic areas, parks, and exhibitions on every corner. This neighborhood also has great schools and family-friendly activities to keep you and your family entertained all week.
Property is incredibly expensive in this area, with the average home costing almost $5 million. While this may seem high, the homes in this area tend to be much larger than the other neighborhoods in the Bay. This makes the price per square foot less extreme.
If you’re looking for a neighborhood full of local attractions, look no further than Haight-Ashbury. This area of the Bay is surrounded by electric shops and unique local stores. This entire area reflects the 1960s hippie era in San Francisco, with people from around the world flocking to the area to witness history with their own eyes.
Homes in this neighborhood are not cheap, with some homes selling for well over $10 million. The average property price in Haight-Ashbury is $2.7 million. When it comes to amenities in the area, Haight-Ashbury is full of cafes, restaurants, and vintage stores.
There are also a few historical sites in the area such as The Red Victorian and the Stanyan Park Hotel, which was designed by Martens & Coffey.
If you’re looking for a beachfront oasis, Seacliff is the neighborhood for you. Whether you want to buy a home to live in or as an investment, Seacliff offers everything you’ll ever need. This area is full of ocean-front homes and condos.
With an average property price of around $4.2 million, this area is definitely for the ultrarich. However, it is perfect for those who are looking to invest in real estate. This is because vacationers from around the world love to flock to this area of San Francisco in the summer.
With an average property price of over $2 million, the Marina District is one of the most expensive neighborhoods in the United States. This neighborhood borders the northern shore of the Bay, with apartments and residential homes having a clear view of the ocean.
This area is close to the Golden Gate Bridge and Pier 39. This makes it close to all the major attractions in San Francisco. There is a natural lagoon in the area as well, making it perfect for nature lovers.
Pacific Heights is famous for being posh and elite. This area of the Bay comes with sweeping views of the Golden Gate Bridge, Alcatraz, and the Headlands.
This neighborhood in the Bay is known for its impressive architecture. With grand facades throughout the area, homes can range from around $1 million to $10 million. The average home price in Pacific Heights is around $2 million.
How To Compare Home Prices
When looking for the perfect house, it’s important to take your time and list out the things you want. This includes looking through your finances and finalizing a budget to work with. This is important, as it will allow you to filter homes as you find them to find the perfect home for you and your loved ones.
Once you have finalized a budget, you can take a look at what area you would like to stay in. The different areas can have a massive effect on the property price. This means that you can get more house for the same money if you choose to buy in a different neighborhood.
When comparing home prices, take the property size and floor space into account. A great way to simplify the process is to look at the price per square foot of each home. This is a useful method to use when evaluating how much house you’re getting for your money.
Contact Move Central To Help With Your Move
Are you thinking of buying a home in the Bay area? With property prices increasing steadily over the last few decades, buying a home can be a great long-term investment for you and your family.
When it comes to property prices, the different neighborhoods can vary quite a bit. While some areas are more affordable than others, it’s important to take your time to find your dream home.
If you have any questions or want to see how much it would cost to partner with us to help you move, feel free to contact us for a free quote today!