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Finding Your Dream Home: How to Choose the Perfect Property in Newport Beach, CA

Finding Your Dream Home: How to Choose the Perfect Property in Newport Beach, CA

Newport Beach, California has picturesque coasts and warm weather year-round. It also provides an elevated and luxurious lifestyle to its residents. For many, it’s the dream destination to buy a house and set up a home. But with a plethora of residential enclaves spread in various master-planned communities, how do you find your dream property in this beautiful coastal city?

We’ve put this guide to help you navigate the housing market of Newport Beach, CA, and find your perfect home in this part of Southern California.

Finding Your Dream Home

Newport Beach CA has some of the finest real estate listings from luxury condos, modern villas, and sprawling luxury estates. With so many choices and the need to weigh each property’s pros and cons, finding the perfect property is not always straightforward.

We believe that when you’re in the position to buy a luxury home in Newport Beach, CA the experience should exciting and pleasurable. Most importantly, the homebuying process should conclude with the homebuyer securing a home that matches their high expectations.

Here are some pointers to set you on the right path to buying luxury homes for sale in Newport Beach, CA.

Set a budget

Acquiring luxury real estate property in Newport Beach, CA, can mean a very significant outlay and even if you are in the fortunate position to be looking at luxury homes in the upper tier, it’s still wise to set a budget. Assess your financial health, and set a figure or at least a range beyond which you would be unwilling to go. Of course, depending on your financial capability and what you envision your dream property to be, this is very much amenable to change.

The purpose of a budget is to set boundaries if you are looking at a specific price range in the luxury market. There are some very alluring properties, and it’s easy to want to pay above your budget to secure a property you’ve fallen in love with. If the set budget was just a reference but you’re able to buy what you want at whatever cost, then no harm.

However, if the budget is set for practical necessity then it’s wise to stick to it. Over-extending yourself financially could turn that dream purchase into more of a headache than you’d want.

Setting a budget will also help make your search for luxury homes for sale in Newport Beach, CA more targeted. You’ll give yourself more time to truly pinpoint and explore the property that most closely matches your vision.

Define needs and preferences

Finding Your Dream Home: How to Choose the Perfect Property in Newport Beach, CA

Create a list of must-haves that will include features you can’t compromise on. These may be proximity to the water or amenities, security and safety, and of course, number of beds and baths. If a property does not have anything that is listed as a must-have, then save yourself the time and exclude it from your potential homes.

Also, create a “highly desired” list which would be lovely to have but wouldn’t necessarily be a deal breaker if they were not present. Some of the features often listed by homebuyers in this list include a laundry room, home-office space, walk-in closets, extensive storage, smart technology, and energy-efficient and sustainable features.

Think about your living space and how you want it to be functional, and comfortable, as well as being able to elevate your lifestyle. If your family loves to cook, then a chef’s kitchen would suit your needs. Do you love entertaining outdoors? In Newport Beach, you could host wonderful parties in both your outdoor area as well as within the house.

If you find it difficult to separate your needs and wants, you wouldn’t be the only one. When it comes to top luxury properties the boundary between needs and wants becomes a little more blurred. Speak with your agent and they’ll often be able to help you find better clarity when deciding on these matters.

Explore different neighborhoods

Newport Beach offers a wide variety of wonderful neighborhoods. Each community has its distinct charm and unique vibe.

Finding Your Dream Home: How to Choose the Perfect Property in Newport Beach, CA

When deciding where to buy a luxury home in Newport Beach, keep in mind these factors:

  • Location: Do you want to live near the beach with the pristine views of the ocean? Buying a waterfront property gives a homeowner endless opportunities for water sports and activities such as surfing, sunbathing swimming, fishing, and kayaking. You’ll also find many luxury homes and condos within golf communities. Many of these communities are guard-gated and appeal to families with children and high-net-worth individuals for their exclusivity and prime security.
  • Preferred amenities: Whether you want to immerse yourself in beach activities, savor delectable dishes, rejuvenate with spa treatments, or shop at the best spots, Newport Beach can provide what you want. For families with children, there are highly-ranked schools under the Newport Mesa Unified School District, such as Corona del Mar and Newport Harbor High School.
  • Neighborhood environment: Your home will be part of a neighborhood and it will have a significant impact on your everyday life. Research the area to know the characteristics of the neighborhood. A healthy neighborhood fosters a strong sense of community and creates a feeling of belonging.

Best neighborhoods to live in Newport Beach

Naturally, enough, many of the best luxury homes for sale in Newport Beach can be found in the best neighborhoods. If you’re already some way down the process of buying a home, here are some communities you may want to have a closer look at.

  • Big Canyon
  • Home to A-listers and top executives, Big Canyon is considered one of the most prestigious and luxurious neighborhoods in Newport Beach. This guard-gated residential community anchored by the invitation-only Big Canyon Country Club is exclusive, luxurious, and provides the highest levels of privacy. The immaculate fairways of the Big Canyon golf course serve as a panoramic backdrop while you improve your game. Other outdoor activities such as jogging, hiking, and biking can be easily enjoyed here. Residents have access to upscale amenities such as an aquatic center, fitness centers, dining places, and entertainment centers. If you love art, the Orange County Museum of Art is a few minutes away. Big Canyon is accessible to Newport beaches and Crystal Cove State Park. Big Canyon features a spectrum of luxury real estate properties from single-family homes, to palatial estates, condos, and townhomes.

  • Bayshore
  • If you’re looking for a family-friendly and private guard-gated neighborhood, Bayshores could be perfect for you. One of the smallest and most serene neighborhoods, Bayshore treats its residents to the most stunning views of Newport Beach. This waterfront community offers residents 2 private beaches with 2 yacht marinas, a guest dock, a sand volleyball court, a play park area for the kids, a barbecue area, and a beach volleyball court.

    Bayshores features 250 single-family homes, including prized waterfront homes with incredible views of Newport Harbor.

  • Dover Shores
  • A premier community with a more laid-back feel than the other areas in Newport Beach, Dover Shores is charming, tranquil, and family-friendly. Residents can enjoy two private beaches, walking paths, and picturesque views of the Back Bay area. The neighborhood is a stone’s throw from various dining and retail shops on Irvine Avenue.

    Luxury homes in Dover Shores sit on oversized lots, with modern designs, private courtyards and pools.

  • Crystal Cove
  • Nestled in between the Pacific Coast Highway and the Pacific Ocean, Crystal Cove combines Mediterranean architecture with scenic nature. With its distinctive coastal vibe, Crystal Cove is a very relaxed neighborhood. It is an oasis for people who want a secluded gated community. Residents can explore 3.4 miles of beach and acres of the natural wilderness of Crystal Cove State Park. The park offers hiking paths, mountain biking routes, horseback riding trails, tide pools, and camping sites. Shopping and dining options are within walking distance at The Crystal Cove Promenade and Fashion Island.

    Crystal Cove has a collection of custom-made European mansions and estates. Single-family homes are lavish with features such as spa-like bathrooms, walk-in closets, large courtyards, and oversized pools. For those who prefer a lock-and-leave lifestyle, Crystal Cove also offers modern condos with hotel-like amenities.

  • Corona Del Mar
  • Affectionately nicknamed by locals as “CdM,” the neighborhood is notable for its beaches, marinas, cliff vistas, and opulent homes. Residents take strolls and swim in the Corona Del Mar State Beach. There’s easy access to harbors and marinas, and sailing and boating. This waterfront New Beach neighborhood is home to Sherman Library and Gardens, a horticultural retreat for locals and visitors.

    Corona Del Mar offers luxury at every price point. Multi-million dollar oceanfront properties offer breathtaking views of the Pacific Ocean. You’ll also find stylish bungalows, new-builds, and modern estates at this prestigious address.

Working with a Local Agent

If you’re thinking about investing in a luxury home in Newport Beach, it’s a very sound idea to work with a local real estate agent. Here are some of the main reasons why hiring a local real estate agent in Newport Beach, CA more often than not, pays for itself.

  • Expertise in the luxury home market: A luxury real estate agent specializing in the high-end market will demonstrate unrivaled expertise in understanding the needs and wants of discerning buyers, and provide invaluable guidance on the neighborhoods, trends, pricing, current listings, and potential developments.
  • Reliable professional network: With long years of experience, a luxury real estate agent in Newport Beach will have developed comprehensive and trusted professional connections in the industry. This network will include seller’s agents, contractors, developers, lawyers, lenders, and builders. This makes any purchase and refurbishment of a luxury much easier.
  • Strong negotiation skills: Luxury real estate agents have spent their careers honing their negotiation skills. They know how to get their clients the best deal without jeopardizing a deal on a property their client is keen to acquire.
  • Access to exclusive listings: A luxury real estate agent has access to exclusive listings that are not open to the public. This gives you options for a wider selection of prospects including off-market properties, and upcoming listings.

What to Do When You’ve Found Your Dream Home

Now that you’ve identified a property, it’s time to make the next move. How do you secure your dream home?

Make a compelling offer

A compelling offer need not be the biggest offer made, although bid too low and you may damage future bids. The right bid should balance both your interest to pay the minimum required yet still catch the favorable attention of the seller.

  • Understand the market
  • Before making an offer, it’s important to understand the current trends in the Newport Beach real estate housing market. A real estate agent can pull up a Comparable Market Analysis that will show recent comparable home prices and recent sales in the area. Knowing the comparables can guide a homebuyer in making a competitive offer, eliminating the risk of overpaying for the property.

  • Add a personal touch
  • A personal connection with the seller can make a huge difference. During a home viewing, look at the details that can help in connecting with the seller on a personal level, such as love for the kids, hobbies, or common interests. Writing a sincere letter to the seller expressing what draws you to the house and why you’d want to buy it may help. It could tip the scales in your favor against similar-priced bids or even those that slightly exceed yours.

  • Be flexible with your closing date, if possible
  • Some sellers could need extra time to move out. Be flexible in adjusting closing dates and accommodate the schedule of the seller. Meeting the timeframe of the seller can show that you’re understanding of their requirements which may help ensure a smooth transaction. A little flexibility pleases any seller and can make your offer more appealing.

Make an all-cash offer if you can

When a property receives multiple bids, it creates competitive tension that forces the property’s price to rise. This is a winning situation for the seller, but anxious times for bidders. An all-cash offer on the table can make your offer stand out from the crowd and expedite the buying process. The other benefit of a cash purchase is the enormous amount you’ll save from interest payments. Once bought by cash, a property is no longer just accruing equity, it’s making an outright profit from the moment you purchase to the time you sell.

Get pre-approved or pre-underwritten for mortgage

If you’re not in a position to buy with cash, you’ll want to get pre-approved. Getting pre-approved means:

  • A lender has reviewed your financial situation- assets, debt, income, credit scores, and credit history, and found that you meet their requirements for a loan.
  • The lender has determined how much you can borrow, the type of loan, and
  • the interest rate.

A mortgage pre-approval can give a competitive edge.

  • It indicates to the seller that you’re serious about buying a house, as you have secured financing.
  • Establishes your financial credibility to the seller, and that you’re likely to qualify for a loan.
  • Expedites the closing process. Since most paperwork has been accomplished during pre-approval, it shows that a buyer can close the deal swiftly once the offer is accepted.

Home inspections

A home inspection is always highly recommended. Hire a professional to thoroughly inspect the home’s condition. They’ll detect flaws that may not have been apparent when you viewed the house. After the offer is accepted by the seller, a buyer should arrange for a home inspection before the actual purchase. Typically, the buyer is responsible for hiring and paying for the inspector which should be carried out within 7 days of a seller accepting a bid.

Some of the important aspects of home inspection covers:

  • Exterior, foundation, basement, and structural integrity
  • Interior plumbing and electrical system
  • Roof and rain gutters
  • Heating, ventilation, and air conditioning systems
  • Windows and doors.
  • Walls, ceilings, and floors

If the inspection uncovers major problems with the house, the buyer and seller could agree to reduce the price or renegotiate the repairs. Or failing to find an agreement the buyer may simply look for another property.

Find your Dream Home with the Luxury Real Estate Experts

Finding Your Dream Home: How to Choose the Perfect Property in Newport Beach, CA

If you’re considering a move to Newport Beach, The Georgina Jacobson Group is ready to help you find your dream home. We are luxury real estate specialists with the experience and expertise to get you results in the high-end market of Newport Beach. Our team brings a unique understanding and dedicated service to our clients.

Reach out to our team and discover the finest luxury homes for sale in the premier neighborhoods of Newport Beach and across Orange County.

Call us at 949.285.8380 or send an email here and let’s begin your journey to a better home in the Californian sunshine.

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