Despite the chaos and uncertainty of the past year, low-interest rates and rising home values make real estate an unambiguously wise investment. If you’ve ever desired to own a vacation residence in a coastal community, the time to buy is now and the place is the Newport Coast of California. Whether you’re looking for an extra source of passive income, an investment that will bring huge profits in the future, or just somewhere where you can get away, Newport Coast real estate will provide.
The housing market is booming in Newport Coast
Few haven’t fantasized about owning a home within walking distance of the beach, and with interest rates being as low as they are, there’s no excuse not to pursue Newport Coast real estate. A 15-year fixed mortgage is currently at 2.125%, and a 30-year fixed mortgage is at 2.75%. Mortgage interest rates for Newport Coast real estate are not only some of the lowest in the country but the lowest which will be available for the foreseeable future. With interest rates projected to rise in 2023, the time to invest is now.
Rising home values
Newport Coast real estate is currently a stronger seller’s market, as there are more prospective buyers than available properties for sale. The value of homes in Newport Coast, California continues to skyrocket, meaning they are an excellent investment that is projected only to rise in value.
The current median selling price for a Newport Coast home is $3,850,000 — a $1.3 million increase from $2,580,000 just three years ago. For those interested in flipping real estate, take a moment to imagine the profits you’d make three, five, or ten years down the line if you buy now. As the prices keep on rising, they are currently the most affordable they’ll likely ever be.
Buying Newport Coast Real Estate as a vacation home
Conveniently located just south of Huntington Beach, Newport Coast real estate is less than an hour drive away from downtown Los Angeles and less than a two-hour drive from San Diego. The Bilbao Peninsula neighborhood of Newport is flanked by the glittering water of the Pacific Ocean on one side and the serenity of Newport Bay on the other and is complete with two piers and ample marinas for local boaters. The area is walkable with an impressive variety of shopping and dining but remains a residential area free from tourists.
The famous Corona del Mar Beach is just a few minutes away. Go enjoy the gentle yet surfable waves and observe wildlife in the tidepools. Drive over to nearby Crystal Cove state park to enjoy walks through local nature, or fill your kitchen with fresh, organic groceries from the weekly Lido Marina Village Farmers market. Just a few minutes away is downtown Newport Beach, home to a dining scene dubbed “Orange County’s top culinary community” and several indulgent opportunities to watch spectacular ocean sunsets on one of the city’s many evening cruises.
Living right on the coast means that a Newport Coast home provides the ideal climate for a vacation no matter the time of year. Temperatures rarely dip below a temperate 61 degrees in February or rise above a balmy 71 degrees in August and September. With only 19 days of rain on average per year, there is ample time to enjoy uninterrupted sunshine and fresh ocean air during any season.
The famous Corona del Mar Beach is just a few minutes away. Go enjoy the gentle yet surfable waves and observe wildlife in the tidepools. Drive over to nearby Crystal Cove state park to enjoy walks through local nature, or fill your kitchen with fresh, organic groceries from the weekly Lido Marina Village Farmers market. Just a few minutes away is downtown Newport Beach, home to a dining scene dubbed “Orange County’s top culinary community” and several indulgent opportunities to watch spectacular ocean sunsets on one of the city’s many evening cruises.
Living right on the coast means that a Newport Coast home provides the ideal climate for a vacation no matter the time of year. Temperatures rarely dip below a temperate 61 degrees in February or rise above a balmy 71 degrees in August and September. With only 19 days of rain on average per year, there is ample time to enjoy uninterrupted sunshine and fresh ocean air during any season.
Renting out your Newport Coast vacation home
Many homeowners can be tentative about investing in a vacation home as they're concerned they won't get enough use out of it to justify the cost. They worry it’ll house them for two weeks per year on vacation and remain empty and collect dust and mortgage payments for the other fifty.
However, the landscape of vacation rentals has transformed dramatically in recent years with the widespread use of home-sharing apps like Airbnb, with rates in Newport Coast ranging from about $150 to $350 per night. Spend as much time at your Newport Coast vacation home whenever you like, and then use it as a passive source of income the rest of the year.
Additionally, you could rent out your property for weeks or months at a time, with rents in Newport Coast ranging from around $5,000 to $8,000 per month. Renting out your Newport Coast house is one of the best profit-earning investments in California.
This is where the current strong seller’s market works in your favor. With so much demand to live in Newport Beach, you can take advantage of this circumstance by renting out your property. All the reasons you desire to own a piece of Newport Coast real estate - the views, proximity to the beach, shopping, and dining - are the same reasons why so many are willing to pay top dollar to stay at your vacation home.
Newport Coast real estate is the perfect investment to make right now with incredibly low-interest rates and values continuing to rise. If you’re ready to start your search for a Newport Coast home, don’t hesitate to reach out to trusted local agent Blair Walsh who will employ his knowledge and expertise to guide you every step of the way.
However, the landscape of vacation rentals has transformed dramatically in recent years with the widespread use of home-sharing apps like Airbnb, with rates in Newport Coast ranging from about $150 to $350 per night. Spend as much time at your Newport Coast vacation home whenever you like, and then use it as a passive source of income the rest of the year.
Additionally, you could rent out your property for weeks or months at a time, with rents in Newport Coast ranging from around $5,000 to $8,000 per month. Renting out your Newport Coast house is one of the best profit-earning investments in California.
This is where the current strong seller’s market works in your favor. With so much demand to live in Newport Beach, you can take advantage of this circumstance by renting out your property. All the reasons you desire to own a piece of Newport Coast real estate - the views, proximity to the beach, shopping, and dining - are the same reasons why so many are willing to pay top dollar to stay at your vacation home.
Newport Coast real estate is the perfect investment to make right now with incredibly low-interest rates and values continuing to rise. If you’re ready to start your search for a Newport Coast home, don’t hesitate to reach out to trusted local agent Blair Walsh who will employ his knowledge and expertise to guide you every step of the way.
