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RE/MAX Gateway
Los Angeles, Santa Clarita, Santa Monica Real Estate

Rent vs Buy: Why We Live in Santa Monica at all Costs

Rent vs Buy: Why We Live in Santa Monica at all Costs

UNADJUSTEDNONRAW_thumb_6b6 UNADJUSTEDNONRAW_thumb_630Nobody understands the motivation to choose to live in a beautiful, vibrant, and exciting beach town setting better than the residents of Santa Monica, California. The cost of living is enormous compared to national averages, and running a few Santa Monica value checks may be slightly shocking. According to the National Cost of Living Index, Santa Monica ranks well near the top of the most expensive areas with an overall cost of living rating of 211. California on the whole ranks 135 and the national average is 100. For housing, respectively, Santa Monica rates a 450, California scores an 189, and the national average is- as a comparative- 100. The average cost to rent in Santa Monica is approximately $3000.

Rent vs Buy

Nevertheless, in the face of these staggering prices, many people elect to endure the lack of affordable housing. Why? Well, that’s easy. Santa Monica is home to the beautiful Silicon Beach, offers a fast-paced lifestyle in a stunning seaside region- where so many living spaces are perched over some of the finest examples of coastal and city scenery in the country. Not only that but just behind the city, to the east, are a sweeping range of endless hills and wilderness, much of which are open to the public.

When faced with the choice of whether to rent or buy, many Santa Monicans make their choice to live in Santa Monica feasible by foregoing homeownership to remain lifetime renters. What few of these renters realize is that they may qualify to purchase high rise condos for between 5% and 10% down. Many young families who need a home instead of a condo can qualify for a loan buy a larger home outside of Santa Monica for just 3.5% down FHA, and veterans can receive a loan for 0% down.

With opportunities like these available, we think more people could choose to stay in this one of a kind California beach town.

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About Us

Picture of Mark Bolender

Mark Bolender

Cal BRE# 01065007

markbolender@remax.net

661-714-0510661-714-0510 mobile

Mark Bolender is one of Los Angeles county's dynamic Realtors, and has faithfully served his residential clients for 25 years. He educated himself consistently over this time, while honing his sale's and negotiation skills. Not only does Mark have a Broker license, he is also certified to work with residential clients (CRS), and a graduate of the Realtor Institute (GRI). Mark Bolender specializes in the independent cities of Santa Monica and Santa Clarita as well as the West Los Angeles areas. Mark can be found at the corporate offices in Valencia and Stevenson Ranch, and also a boutique satellite office in Santa Monica, near the beach. You can quickly sum Mark's personality up like this, he treats everyone the same no matter who the person is. What this means is that Mark Bolender is kind, honest and diplomatic to all, while treating everyone to his savvy negotiating and coordinating expertise. When people meet Mark, they feel at ease, sensing that he is present and mindful because he always listens. He is both charming and formidable, managing to stay positive and offer solutions at all times. For many, throughout Los Angeles, Mark remains a valuable member of their financial team, year after year. Please notes that photos in slide show that are shown in 3D are being used with permission from Shutterstock. These photos and all other artwork in this website have copyright protection. Do not download or use these or any images. Thank You!