There is simply no getting around the desirability of Encinitas, CA as a city to call home. This stunning beach city in the North County area of San Diego has been named one of the best 20 surf towns in the world by National Geographic and combines a long and renowned surf history with the beach-culture vibe of the mid-1900s. There are amenities galore, stunning natural wildlife and conservation spaces and a thriving, vibrant and welcoming community.

No matter what your age or circumstances, there is somewhere in Encinitas that you will feel at home. Many families enjoy living here, and the public school system is highly rated. Alternatively, there are a lot of opportunities for young professionals.

If you have identified Encinitas as the area of San Diego where you would most like to live, you are probably starting the process of considering the types and locations of the properties that you are interested in. Nevertheless, one of the biggest concerns of many people is finding an affordable property in such a desirable location.

Are there affordable homes in Encinitas, San Diego?

Currently, the median home value in Encinitas, CA is around $862,000. This is compared to a national median home value of just $184,000. However, otherwise, the cost of living is fairly reasonable compared to other cities in California and rates of employment are high.

Although the average home value can definitely be considered high, the City does have housing programs that aim to provide safe and decent quality housing for eligible low-income households. To do this, the City relies on federal, State and local funds, as well as partnerships with non-profit organizations and other government agencies. For example, first-time buyers may be eligible for the County of San Diego First-Time Homebuyer Downpayment Assistance Program which offers low-interest deferred loans to eligible homebuyers. There may be other programs that can also help homeowners to take advantage of more affordable housing, and we recommend you inquire with your chosen realtor or the City offices to see what help is available to you.

Getting your mortgage calculated can help you see what Encinitas properties are within your budget

Ultimately, what one person finds affordable can be very different to someone else. As such, the most accurate way to determine if there are affordable homes to buy in Encinitas, San Diego, or anywhere for that matter, is to find out how much you can realistically afford to spend. The only way to do this is to get your mortgage calculated. A mortgage calculator can help you to determine how much you can potentially borrow and what your monthly repayments would be. This figure is based on numerous factors including how much of a down-payment you can offer and your credit history. Your monthly repayment figure will include paying off a percentage of the cost of your home and the associated interest.

It is important to have this monthly figure established as most people get paid either weekly or monthly, and knowing what you will need to spend to repay the cost of your home will almost certainly be the biggest expense in your monthly budget. Just don’t forget that on top of paying for the property itself, you will also need to factor in living costs including any HOA fees, utilities, taxes and more.

Once you have found a monthly amount that you are confident that you can afford to repay, you will know how much you can borrow for your property purchase, and this will enable you to find homes that fall within your budget.

If you would like more information on homes in Encinitas, San Diego, or if you would like to learn about what affordable housing options are available, please don’t hesitate to speak to our experienced real estate team.