Odds are if you have compared San Diego real estate to Coronado real estate, you experienced a small moment of sticker shock. We won’t deny it, living in Coronado is expensive.
But the reason why so many families, veterans, retirees and young couples decide to move to Coronado is the community. Because when you move here, you don’t just get four walls; you get an entire community invested into your success, safety, children thriving in the outstanding school system and the ability to leave the car at home in favor of walking just about anywhere.
And every day people like you and me forgo the additional space and excess house that they can afford in San Diego, opting instead to be a part of something more as Coronado continues to flourish.
So, how do you accomplish this?
Renting
For those who want the sense of community and safety, but aren’t quite in a position to buy, consider renting on the island. Get your foot in the door now, and over time build up the ability to buy. While you are renting, become a part of the community by enjoying the novelty events, appreciating the quirks and walking to the beach.
A general rule of thumb, without accounting for overlooking the ocean or proximity to Orange Avenue, is that rentals will average about $1,000 a bedroom per month. Properties farther away from the village, ocean and bay will fit tighter budgets, while still giving you access to all of the amenities of the island.
Buy Smaller
Next to location, lot size has the biggest impact on home value in Coronado. For those still considering if they can afford to live in Coronado, don’t expect a large ocean front property. Making the commitment to live in Coronado often comes with the commitment to living in a smaller space.
Coronado real estate has a long track record of increasing in value, so you know an investment in a home now will increase over time. Because there is a limited supply of land on the island, with an ever-growing demand, even the smallest lot size or condominium’s value will continue to grow over time.
Buy Strategic
There are bargains to be had in Coronado, although they take an experienced local Realtor to find. Some bargains are based on location, while others come from the array of different housing options in Coronado. For example, properties between Second and Fifth give you a little more square footage for your dollar as compared to Ocean Boulevard or adjacent to Orange Avenue.
Be willing to look at a variety of property and style types. There are great condominiums available out there, as well as townhomes that many times get overlooked because of location or lack of the beach bungalow feel.
Conclusion
When you’re ready to transition to the greatest small beach town out there, let us know!
As locals, as well as invested community members, we can help you navigate the different housing options and find a situation that fits your lifestyle. Contact a ParkLife agent today!
