Waterfront Homes for Sale in California

If you want to buy a house in California without breaking the bank, Porterville is your best bet. Median home prices here are around $850,000, and the cost of living is 12% lower than the rest of the state.

Apart from Porterville, Fresno, Bakersfield, Stockton, and Chico are a few more budget-friendly cities you can choose from. Here, median prices are roughly half of California’s overall median.

Buying a home in California usually costs about $850,000. Despite a decline in property prices since 2025, California remains one of the most expensive housing markets in the country.

However, the purchase price isn’t the only expense you need to account for when buying a home in the Golden State. You will also need to consider additional costs like property taxes, down payment, insurance, inspections, and closing costs.

If you have a steady source of income and plan to settle down in California, buying a house is better than renting. Properties in the California housing market gain value over time, allowing you to build equity and take advantage of potential tax savings.

If you’re in California for a short time, rent a house. With a median home price of $850,000 and high interest rates, monthly mortgage payments end up being way higher than typical rent prices in most cities.

An increased risk of wildfires has led insurance companies like State Farm and Allstate to stop issuing new homeowners insurance policies in California. As a result, there are fewer insurance companies to choose from, and you are forced to pay higher premiums for the policies that are available.

Many buyers have to rely on the California FAIR Plan, which is the state’s safety-net coverage. It pays only for fire damage, forcing you to buy a second policy to cover everything else. Since lenders require insurance to close escrow, you should check coverage availability early, especially in wildfire zones.

In California, typical HOA fees range from $300 to $400 per month, depending on the home type, location, and amenities. Luxury condos in cities like Los Angeles or San Francisco can easily cost over $1,000 in fees. On the other hand, homes in suburban areas like Hemet and Modesto cost much less, ranging from $50 to $400 per month.

California's median rent is $2,672 per month, though it differs by property type and location. Coastal and tech centers like San Francisco and Sunnyvale cost $3,100 to $3,500 per month. Rent in inland cities like Bakersfield, Stockton, and Fresno is much more affordable, ranging from $1,300 to $1,400.

Yes, the California Housing Finance Agency (CalHFA) runs several programs that you can explore before assuming you need a 20% down payment. The MyHome assistance program provides a deferred second loan for up to 3% to 3.5% of the list price, while the CalPLUS Zero Interest Program helps cover closing costs.

First-generation buyers can try for the Dream For All Shared Appreciation Loan, which offers up to 20% of the purchase price, capped at $150,000. This program uses a lottery system with an application window that typically opens in February. Since funding runs out fast, you need to act quickly if you qualify.

Yes, foreigners can legally buy and own property in California. Federal and state laws don’t require you to have U.S. citizenship, residency, or a green card to buy residential property in California.

Closing costs for California buyers usually run from 2% to 4% of the sale price. This covers loan settlement costs, title insurance, escrow services, home appraisals, and upfront property taxes and home insurance.

On a $600,000 home, expect to pay approximately $12,000 to $24,000 beyond your down payment.

Mello-Roos is a special tax on newer California construction to fund basic infrastructure such as roads, schools, and utilities. It shows up as an additional fee on top of your normal property taxes. It can add hundreds or even thousands to your annual bill and usually lasts 20 to 40 years.

Before making an offer on the listed tax rate, make sure you explicitly ask if the property is in the Mello-Roos district.