Santa Clara Townhomes
With their smart, multi-level layouts, a townhome can be an ideal option for some individuals and families, and Santa Clara CA has multiple options. Situated adjacent to San Jose and a short drive from Palo Alto, Santa Clara is located in the heart of Silicon Valley. Whether you are an individual or family who is new to the area and are seeking a townhome to make your new residence or you’re a current resident of the Santa Clara community and you’d like to upgrade your current accommodations, Spencer Hsu of Spencer Hsu Real Estate can introduce you to townhome options that meet your price requirements as well as your living space needs.
Santa Clara CA Real Estate
The Santa Clara community has a seemingly limitless number of townhome options, so before you start your search, there are some things that you should consider:
Price – The average price per sq ft for Santa Clara real estate is $781.81 is lower than other Silicon Valley cities like Cupertino, Palo Alto, and Mountain View. That makes Santa Clara an attractive real estate market for purchasers seeking to stretch their purchasing dollar.
Square Feet – Square footage is an important factor for most townhome buyers. While a clever layout can sometimes help with a low sq. ft. count, you should not compromise on your square-footage requirements by too great of an amount.
Beds and Baths – Your bed and bath requirements will depend largely on your personal needs, but the number of bedrooms and bathrooms can also affect your investment. For instance, it goes against conventional wisdom to buy a townhome with a high number of square feet but with only one bedroom and one bath.
Garage – Whether you want it to store a vehicle, make it into an exercise space or workshop, or to use for storage, a garage can be a useful home feature. Not all townhomes have garages, though, so if it is something you must have, make sure you discuss it with your Realtor. Many townhomes are not build as tandem garages.
This is by no means a comprehensive list. Other things to consider would be a patio, a pool, yard space, etc. Many townhomes have some of these amenities, but not all of them, so be specific.
New Construction vs. Existing Townhomes
As is the case with many Bay Area communities, Santa Clara CA has new townhouse developments established every year. However, these are selling very quickly! One of the advantages of purchasing a new construction townhouse is that you can customize certain features. Oftentimes, townhomes have several floor plans and you can choose your location in the building based based on the design you want. One of the drawbacks is that your new-construction townhouse may not be ready to move in when you are. Additionally, you may have to deal with construction delays as you wait for all phases of the community to be finished. With existing homes, you can see what the neighborhood is like in its finished state. You also have the advantage of being able to detect any structural issues that may have developed after the first year or two.
Advantages of the Santa Clara Community
If you’re familiar with Silicon Valley, you know that each community has its own particular flavor. Santa Clara is no exception. With a population near 130,000, Santa Clara is a relatively young, working community with an average age of 33 and only 11% of the community over the age of 65. It is, of course, a tech-heavy region with household names like Intel, Applied Materials, and Nvidia located within its city borders. Additionally, Levi’s Stadium, home of the San Francisco 49ers, is located in Santa Clara.
Local Recreation in Santa Clara
Santa Clara is a city with a great deal of historical and cultural value. Established as a Spanish mission town in 1777, Santa Clara has numerous museums, historical buildings, and the Mission Santa Clara de Asís. The mission still exists and is open to the public. Because the stadium is located in Santa Clara, there are pro football games, concerts, and other events continually occurring in the community.
In 2018, Santa Clara was recognized by the League of American Bicyclists as a Bicycle Friendly Community. It’s also been named a “Tree City USA.” The county of Santa Clara boasts 28 parks, many of which are in the city and all are near Santa Clara’s city limits.
Housing Demand in Santa Clara
Santa Clara housing has maintained steady demand as is the case with the rest of the county. Homes went through a period of robust appreciation from 2015 to 2018 and have held those high levels to the present. Mean house prices have hovered around $1.4 million, although that figure may be lower if only townhouses are considered. The average price per sq ft is just over $850 for Santa Clara County where prices are slightly lower for the city of Santa Clara CA.
The Home Buying Process
Whether this is your first time buying a home in or near Santa Clara, you should know in advance that no two real estate transactions are identical. It may help, however, to have an idea of standard real estate practices that are common in the state of California.
Loan Prequalification – If you plan on financing a Santa Clara townhouse, it’s important to know how much the banks are willing to lend you based on your income.
Property Search – Buyers in the Bay Area spend 25% longer — approximately 10 weeks — than the national average when searching for a home.
Execute the Contract – The seller will request a earnest money deposit to take the house off the market.
Mortgage Application – Underwriting your mortgage may take one to two weeks or more.
Appraisal – Your bank will usually select the appraiser.
Loan Approval – This approval will confirm your financial ability to purchase the unit.
Final Walk-Through – This is to determine if the property has changed prior to previous visits.
Closing – The documents are signed and the transaction is complete.
Spencer Hsu Tech Realtor for Santa Clara Town Houses
As a veteran Realtor in the Bay Area, Spencer Hsu has helped 41 families in the last 13 months buy and sell homes. Spencer Hsu has his finger on the pulse of the Santa Clara townhouse market and is well aware of pricing, market trends, and knows the local inventory. Contact him today to schedule a free consultation.