Is Buying a Second Home in the Laguna Hills Right for You?

Situated above picturesque Laguna Beach and surrounded by Laguna Woods in Orange County, Laguna Hills is a 6.7 square miles suburb of Irvine with a population of approximately 30,000. Laguna Hills is considered one of the best places to live in California by Niche, getting high grades in weather, health and fitness, commute, family life, public schools, and nightlife.

Resident reviews support the Niche grades for living in Laguna Hills by mentioning the great year-round weather, welcoming neighbors, accessibility to amenities and freeways, the abundance of trails and good gyms in the area, coffee shops, parks, and being close to the beach.

Homes for sale in Laguna Hills come in all shapes and sizes, so depending on why you might be buying a second home, there is very likely something right for you. Currently, on The OC Property Guide, there are listings that range from a 1-bedroom, 1-bathroom condo to a 3-bedroom, 2-bathroom, single-family home to a stunning, 6-bedroom, 7-bathroom French Country Chateau.  Variety makes it possible to find a second home that meets your needs and wants.

Even with everything Laguna Hills has to offer, before you can determine if Laguna Hills is right for your second home, it’s important to have a clear understanding of what the purpose of the home is. Most buy a second home for one of the following reasons:

Perhaps you already know that living in Laguna Hills is what you want to do when you retire. It’s also possible that you don’t plan to retire for another 10-15 years but want to work on getting some equity built before moving in. Options for how you may choose to use your second home prior to retirement include:

In this case, you’re already retired and plan on being a Laguna Hills snowbird or visiting several times throughout the year. Your second home would remain empty when you’re not living in it.

A quick Airbnb search for vacation rentals in Laguna Hills yields a variety of results, ranging from private rooms to small condos to entire single-family homes. You would be able to block out the dates you plan to visit and stay in your own second home.

You rent your house to full-time, annual residents until you’re ready to retire.

It’s a good bet that living in Laguna Hills, even part-time, is a great choice as Laguna Hills has access to all things you would associate with a vacation destination. Here’s a list of some of the top features people look for in a vacation home and  how they pair up with what Laguna Hills has to offer:

Many homes for sale in Laguna Hills provide spectacular views of mountains, cliffs, and the ocean.

There is no shortage of memorable dining and entertainment options in Laguna Hills and the surrounding area.

Laguna Hills is minutes from Laguna Beach, and there are many outdoor activity options with so many trails in the area.

It's already been noted that Laguna Hills is a family-friendly city, and with your own second home, you can make it as pet friendly as you want.

Flipping, most simply defined, is purchasing a property and quickly reselling it for a profit. Generally, buying a home for under market rate and reselling it for profit requires some “fix-up” work, but that’s not always the case.

Flip Market considers thousands of factors, including population growth and increasing housing prices, in determining whether or not a successful flip is possible. Currently, Orange County ranks #6 in California for the number of flips and #14 in California for flip profit. House flips are identified as houses that were bought and sold in a 12-month period, not including foreclosures, REOs, and multi-parcels sales.

Another factor in successful flips is the population growth in the area. Flip Market’s statistics show consistent growth in the state, county, and zip code, all indicators that flipping a house in Laguna Hills will be successful.

Regardless of what your plans are for your second home in Laguna Hills, be sure to confirm city code, ordinances, as well as homeowners’ association rules and regulations to allow for your intended purpose. You do not want to buy a second home that you plan on renting out short-term when you’re not there, only to find out the homeowners’ association doesn’t allow for rentals.

Before exploring homes for sale in Laguna Hills, it’s important to partner with a professional who is an expert in the area. It’s very likely that if you’re looking for a second home, you may not be very familiar with the area that you’re looking in. You may also be making trips to search for your second home and don’t have time to waste.

 

The right real estate agent will not only know the area but will also have access to most listings, including new or “pocket listings” (listings that haven’t gone public yet). Additionally, they will be familiar with the local ordinances and HOA rules and regulations and will be able to steer you to the available listings that meet your requirements. Real estate professionals are also skilled and experienced negotiators. Many are also knowledgeable and experienced leasing agents and property managers, who will be able to assist in renting out your second home, should that be the direction you decide to take.

If buying homes for sale in Laguna Hills for a second property is right for you, take the next step by reaching out to trusted local agents of zRE Group.