Buying a Home in Lake Balboa, Los Angeles: A Local’s Guide
Discover beautiful homes for sale in Lake Balboa, California. Explore this vibrant neighborhood in the heart of the Los Angeles Area. Start your search today!!!
If you’re looking to buy a home in the Lake Balboa area of Los Angeles, you’ve made a great choice! As a local resident myself, I absolutely love living in this neighborhood. Lake Balboa offers a quiet suburban vibe while still being close to all the action of LA. In this article, I’ll share my insider tips on everything you need to know about buying a home in Lake Balboa.
A Bit About Lake Balboa
Located in the San Fernando Valley region of Los Angeles, Lake Balboa is a peaceful residential area surrounding the main attraction – the 27-acre Anthony C. Beilenson Park. The park features a beautiful 3-acre lake, walking trails, sports facilities, and plenty of green space.
The neighborhood has a very community-oriented and family-friendly vibe. You’ll find people of all ages out walking their dogs, jogging, or playing in the park. There’s also a recreation center with classes and activities for kids and adults. The area is known for having great public schools as well, which is a major draw for families.
While Lake Balboa has a quiet suburban feel, it’s conveniently located just 15 minutes from Hollywood and Downtown LA. So you get the best of both worlds – a peaceful community with easy access to all the entertainment, culture, and job opportunities in the city.
The Lake Balboa Housing Market
The Lake Balboa real estate market is highly competitive, given the desirable location. Home prices here are moderately high compared to the rest of the San Fernando Valley. The current median home price is around $800,000. However, you can find homes ranging from $600k on the low end to well over $1 million for larger luxury properties.
The most common housing type here is single-family homes, though there are also some condos available. Homes range from modest 2-3 bedroom starter homes built in the 1950s up to newly constructed modern farmhouse-style and Mediterranean homes. Lot sizes range from 5,000 to 20,000+ square feet.
Due to high demand, homes in Lake Balboa usually sell quickly. On average, homes sell in around 25 days on the market. Bidding wars are common on the most updated and move-in-ready properties.
It’s important to have an experienced real estate agent on your side who can help you negotiate in this competitive market. Pre-approval for a mortgage and the ability to move quickly with an all-cash offer or flexible closing date will give you a leg up. Acting fast when you find a home you like is key.
- Call me at 818-422-7447 for a list of 3 lenders to call.
Local Lake Balboa Area Photos
The Pros of Living in Lake Balboa
There are many great reasons to buy a home in Lake Balboa. Here are some of the top pros:
- Outdoor lifestyle – The lake and park provide built-in recreation and the perfect spot for walks, picnics, playground time with the kids, and enjoying nature. The area has a very active, health-conscious vibe.
- Community feel – Neighbors here really look out for one another. The community is very engaged, with events happening year-round. You’ll meet a lot of wonderful people.
- Family-friendly environment – From the schools to the activities, Lake Balboa is a wonderful place to raise a family. Kids can safely play outside and you’ll meet many other young families.
- Convenience – With easy freeway access, you can get to DTLA, Hollywood, Santa Monica, and other parts of the city in under 30 minutes. Lots of amenities like shopping and restaurants are close by.
- Highly rated schools – The public schools in Lake Balboa score 8s or 9s on GreatSchools ratings. Sierra Canyon private school is also located here.
- Home value appreciation – Due to high demand and limited inventory, home values increase faster here than in many LA neighborhoods. It’s a worthwhile investment.
Things to Know Before You Buy
While Lake Balboa offers many perks, there are a few things to keep in mind as you search for homes:
Inventory moves quickly – Finding the perfect home can take time. Work closely with your agent, browse new listings daily, and be ready to view homes and make offers quickly.
Limited amenities – Dining, shopping, and entertainment options are minimal within the neighborhood itself. You’ll have to drive or use Uber to access most conveniences.
Plane noise – Some parts of Lake Balboa get occasional noise from planes landing at Van Nuys Airport. Check flight patterns to see which streets are most impacted.
Summers are hot – Like most Valley neighborhoods, Lake Balboa sees high temperatures over 100 degrees in summer. Make sure your home has air conditioning or plans for window units.
Cost of living – While affordable compared to Westside LA, the cost of living here is higher than in many other parts of the Valley. Be realistic about your budget.
Advice for Finding the Perfect Lake Balboa Home
Here are my top tips for finding your dream home in Lake Balboa:
- Get pre-approved for a mortgage before starting your search, so you can move quickly when you find a home.
- Consider a fixer-upper to get more home for your money, then redo it to match your style over time. Many older Lake Balboa homes have great remodel potential.
- Work with an experienced local real estate agent like me, Melinda Bonini, who can help you identify off-market listings and represent your offer strongly with local expertise.
- Expand your search radius within Lake Balboa – different blocks can have vastly different pricing. Be open-minded.
- Look for hidden gems – some of the area’s best homes don’t look like much from the outside but have beautiful updates inside.
- If renovating, don’t sacrifice kitchen or bath finishes. These make the biggest impact on resale value.
- Attend open houses even if the listings aren’t perfect. Speaking with agents can lead to discovering other options.
- Sign up for alerts from listings so you’re notified immediately when a new home hits the market. Finding a home first is key in this market.
The bottom line is that Lake Balboa, California is a fantastic place to live in LA. The neighborhood offers many benefits while still providing easy access to the entire city. If you buy a home now, you’ll enjoy years of peaceful living and see your property appreciate significantly in value.
Just be prepared for a competitive market. Use these tips to nail down your Lake Balboa dream home! Let me know if you have any other questions – I’m happy to help!
