Where Parents Buy Property for California College Kids:
It is an emotional period when your child gets the coveted acceptance letter to a California college. Excitement buzzes in the home as your children grow up and get ready to leave the nest. But as exciting as the prospect is, it is also expensive.
You have been saving for their tuition and dormitory expenses, plus a little extra for the anticipated day-to-day expenses that will be sure to run up on the credit card quickly. And even if your child lives off campus, you'll be looking at four vears of canceled checks spent on a rental property.
However, real estate savvy parents can turn this huge cost into a potential investment if they buy a property for their undergrads to live in Buying a condo or small house in a college town is a great way for parents to save money on room and board fees, and it improves their personal finances with the possibility of appreciation. Plus, it provides a chance for your children to learn the responsibilities of maintaining a property.
Below, we highlight where parents are buying real estate near California's top colleges and universities.
UCLA
Located high in the hills of LA is the University of California, Los Angeles, one of the best schools in the nation.
UCLA opened its doors in 1882 in the secluded hillsides of Westwood and now counts 27 Noble laureates and five Turing Award holders as alumni. Known as a
"Public Ivy," only 14% of applicants make it into the school, and most students enroll in biology, political science, and business economics majors.
Parents who know their kids are aiming for UCLA can purchase property in nearby Brentwood Glen, where there is a selection of single and multi-family homes. Another spot parents look at is West LA, near Santa Monica Boulevard.
Yet, one of the best places to buy is near the intersection of Westwood Plaza and Le Conte avenue. This famed stretch south of the UCLA campus is where students dine and shop between classes.
The sprawling campus is next to the 405, just south of the Bel-Air Country Club.
The BruinBus is how students get around the campus, and the service even extends out into the surrounding neighborhoods.
University of Southern California (USC)
Just south of Downtown LA is the beautiful Universitv of Southern California
campus.
Founded in 1880, the lush quads of this private research university provide a respite from the urban growth surrounding the campus. USC has an acceptance rate of about 16%, and most students major in law, business administration, journalism, and engineering.
The 110 and the 10 are near USC, making it easier to get around LA for students with cars. There is a Jefferson/USC stop on the E line of the metro light rail system, but many students opt for the USC bus system, which goes throughout parts of LA including Marina Del Rey.
Many students spend their first year on campus, giving parents plenty of time to secure a property for the rest of their undergrad. University Park, Vermont Square, and Adams Normandie are popular choices for life off-campus, where there are a collection of condo units available for sale. Single-family homes are far and few between in this bustling section of LA.
Yet there are rare opportunities to purchase a private lot, but it comes at a steep price considering the prime location.
On top of that, those with a greater range of financial means will find several different neighborhoods that are not only beautiful but have everything from amazing schools to stellar nightlife. One of the best things about living in Los Angeles is that there is a niche area for every kind of person. Whether you're looking for a quiet neighborhood in the valley or a breathtaking mansion near the ocean in Pacific Palisades, Los Angeles has plenty of options for every kind of resident. Without further ado, here are the best neighborhoods in Los Angeles to buy a house!
PASADENA
Located just 10 miles northeast of Downtown Los Angeles, the city of Pasadena offers residents the perfect combination of urban proximity and city life, with suburban comfort and a sense of community. Known as the home of the world-famous Rose Bowl Stadium, Pasadena also boasts a host of historic buildings, countless delicious locally owned restaurants, theaters, museums, outdoor hiking trails, and sunny skies 300 days out of the year. The city of Pasadena is divided into four neighborhoods — Old Pasadena, Civic Center, Playhouse Village, and South Lake avenue — each with its own sense of community and style. These smaller, diverse neighborhoods allow residents to build an even stronger sense of community, giving each area a small town charm despite its metropolitan location.
MARINA DEL RAY
Located just south of the famous Los Angeles neighborhood of Venice, California, Marina del Rey offers the same coastal beach lifestyle without the noise of Venice's hustle and bustle. Marina del Rey boasts Los Angeles's biggest marina and port — docks lined with boats, restaurants, beaches, and more lie at the center of the neighborhood. Residents and tourists alike can spend the day in the marina's calm waters on a stand-up paddleboard or kayak, or even support a local business and rent a small yacht to explore the marina and the Pacific for the day.The ocean breeze and the proximity to other bustling West Los Angeles neighborhoods make Marina del Rey an idyllic place to own a home. Free community events, including farmers' markets, outdoor moving screenings in the marina, and live music, allow Marina del Rey residents to feel a true sense of community within the context of the massive greater Los Angeles area. According to Public School Review, the top-ranked public school in Marina Del Rey is Westside Global Awareness Magnet, and there are also a decent number of renowned private schools that are within a reasonable distance of the town.
BRENTWOOD
Also located on the Westside of Los Angeles lies the glamorous neighborhood of Brentwood, California. Sandwiched between Santa Monica, Westwood, and West L.A., Brentwood is home to some of the nicest homes in all of Los Angeles. Well-kept, tree-lined streets host impressively sized homes with plentiful front and backyard space, ample parking, and luxurious landscaping. According to Discover Los Angeles, Brentwood boasts one of the lowest population densities in all of L.A., making it an ideal neighborhood for those looking to raise a family, a couple of pets, or just an opportunity for some hard-to-come-by acreage and yard space while still living in the hustle and bustle of Los Angeles. Brentwood also offers an array of high-end, high-quality restaurants, boutique shops, gyms, and exercise opportunities, making it an extremely desirable neighborhood for those seeking a stereotypical luxurious Los Angeles experience. Although with a median home cost of over $2.5 million, owning a home in Brentwood is out of budget for most, but it is an incredible place to settle down and raise a family for those with a more flexible budget.
WOODLANDHILLS
Located in the San Fernando Valley (often just referred to as "the valley" by locals), the neighborhood of Woodland Hills offers residents a suburban feel with ultimate urban proximity. Unlike much of the city of Los Angeles, most residents of Woodland Hills own homes rather than rent, creating a more suburban, community-based style of living. Despite its slight removal from Central and Downtown Los Angeles, Woodland Hills' location (nestled between Calabasas, Tarzana, and Topanga and just a short drive down the 405 freeway to urban life) makes Woodland Hills the perfect spot for those looking to live just on the edge of suburbia and metropolitan lifestyles. According to Niche, Woodland Hills is home to some of Los Angeles's highest-rated public schools, making it a perfect neighborhood to purchase a home for those looking to leave behind downtown life and start a family. Woodland Hills also offers expansive hiking trails, high-end shopping and fashion, and its own lively bar and restaurant scene all along Ventura Boulevard. When it comes to purchasing a house, the median sale price for Woodland Hills is around $1.3 million, and since it is such a coveted area, the competition can get pretty intense (via Redfin).
MARVISTA
Located in the San Fernando Valley (often just referred to as "the valley" by locals), the neighborhood of Woodland Hills offers residents a suburban feel with ultimate urban proximity. Unlike much of the city of Los Angeles, most residents of Woodland Hills own homes rather than rent, creating a more suburban, community-based style of living. Despite its slight removal from Central and Downtown Los Angeles, Woodland Hills' location (nestled between Calabasas, Tarzana, and Topanga and just a short drive down the 405 freeway to urban life) makes Woodland Hills the perfect spot for those looking to live just on the edge of suburbia and metropolitan lifestyles. According to Niche, Woodland Hills is home to some of Los Angeles's highest-rated public schools, making it a perfect neighborhood to purchase a home for those looking to leave behind downtown life and start a family. Woodland Hills also offers expansive hiking trails, high-end shopping and fashion, and its own lively bar and restaurant scene all along Ventura Boulevard. When it comes to purchasing a house, the median sale price for Woodland Hills is around $1.3 million, and since it is such a coveted area, the competition can get pretty intense (via Redfin).Between its excellent location, low crime rates, good public schools, nightlife, diversity, and sense of community, Mar Vista has been ranked by Niche as one of the top neighborhoods in Los Angeles, coming in at number 15 out of over 100 Los Angeles neighborhoods. Considering Mar Vista's wealth of public parks, locally owned restaurants, shops, and businesses, it is quickly making a name for itself. Owning a home in Mar Vista is sure to be a worthwhile investment for those looking to settle down on the westside.
STUDIO CITY
Located in the heart of Central Los Angeles, Studio City is home to some of the biggest movers and shakers of Los Angeles. Often regarded as the "Jewel of the Valley," Studio City serves as the intermediary area between the more residential, suburban neighborhoods of the Valley and some of Los Angeles's most vibrant, well-known districts, including North Hollywood, the Hollywood Hills, and Universal City, as per Discover Los Angeles. This prime location between suburbia and ultimate Los Angeles city life allows residents to enjoy the best of both worlds. For example, the lower population density plus easy access to major city attractions and public transportation are just a few of the many perks of owning a Studio City home Since the median home cost in Studio City falls around $1.5 million, it's not attainable for everyone (via Redfin). But between the incredible location, the ability to fully enjoy both suburban valley life and downtown city life, and the wealth of public schools and incredible properties, owning a home in Studio City is well worth the price tag for those with a more flexible budget.
SANTA MONICA
Known for its sprawling beaches, lively downtown district, bustling pier, unmatched temperate weather, and safe neighborhoods, Santa Monica is undoubtedly one of the most desirable locations to own a home in Los Angeles. Although Santa Monica — especially the pier and the downtown Third Street Promenade — becomes a bustling tourist destination during the summer months, it also offers a rich sense of community and gorgeous homes for locals and permanent residents. Its prime location in central west Los Angeles offers residents a brief reprise from the infamous L.A. traffic while still being close to other desirable neighborhoods including Downtown Los Angeles, Hollywood, Beverly Hills, and more. According to Niche, although Santa Monica is located in Los Angeles county, the westside neighborhood boasts its own nationally recognized, A+ rated school district, making Santa Monica an ideal place to own a home and raise a family. While the proximity to the beach, the community feel, the big beautiful homes, and the impressive school district make Santa Monica an incredible place to live, it also does raise the median home cost for those looking to purchase. However, Santa Monica is the perfect place to buy a family home for those with a more flexible budget
