Scottsdale is a world-renowned destination known for beautiful weather, luxury resorts, designer shopping and championship-caliber golfing, but there is a lesser-known jewel of a community that boasts a quieter, more laidback lifestyle and it is called Paradise Valley. Snuggled between the McDowell Mountains, Central Scottsdale and the iconic Camelback Mountain, Paradise Valley truly captures the essence of tranquility, natural beauty, and luxury. If you are looking for your dream home for yourself or your family, Paradise Valley is truly one of the best suburbs in the Southwestern United States to call home. We are here to help you understand the home buying process, whether you are a first-time homebuyer, or it has been quite a few years since your last home purchase. Make your dream of living in Paradise Valley a reality.
Unique Qualities of Paradise Valley
While the list of reasons why Paradise Valley is a great place to live is rather long, here are a few noteworthy ones that can help solidify your choice to find your next dream home within the zip code of this cozy, luxurious valley.
- Resident-preserved town mission – for more than 50 years, the original mission of Paradise Valley has been upheld and it states, “to maintain a residential community in a quiet and country-like setting with little government intervention.”
- Space to call your own – while the valley itself is small comparatively, residents truly enjoy the results of a special use permit (SUP) that governs Paradise Valley. The SUP is responsible for protecting the housing density that is set to a maximum of one unit per acre. Unlike most urban communities, Paradise Valley understands that its residents value privacy and space to call their own.
- Safety – this small knit community is focused on a sense of comfort and safety for residents and visitors alike.
- Abundant amenities – from restaurants to shopping and everything in between, residents love having such a wide variety of choices of amenities to spend their free time.
- Proximity – just a short drive to downtown Scottsdale where the vibrant nightlife, various events and amenities are located or to downtown Phoenix to catch a concert or game of one of professional sports teams that call Phoenix home. Paradise Valley provides a rural setting feel without sacrificing the closeness to everything a large metropolitan city has to offer.
While tourists come in droves during the winter months when the temperatures are just about perfect for any activity that you could possibly want to do, the Scottsdale/Paradise Valley areas see an abundance of retirees, growing families and even young professionals. With a diverse residential composition, the type of residences that are seen on the Paradise Valley real estate market range from modest single-family dwellings all the way up to true mansion estates that can hold their own with some of the most expensive in the country. Some metrics of the real estate in Paradise Valley vs. National Average includes:
- Median Value: $1,505,300 vs. $187,700
- Media Monthly Rent – $1,862 vs. $949
If Paradise Valley seems like the place where you would like to call home, here is an overview of the necessary steps to buying a house for the first time, as it is a slightly different approach to buying in Paradise Valley.
- Determine your budget – before even starting to look at homes on the market, it is a good idea to determine how much your budget for a new home can be. As a financial rule of thumb, you should aim to keep your expected mortgage payment below 28% of your gross household income. Keep in mind that you will have to cover the down payment of the home (typically 20% of the home purchase price) out of pocket as the mortgage amount cannot be used to pay the down payment.
- Get pre approved – unless you are paying cash for your Paradise Valley home, which, at their price tags, many homeowners do not have the liquidity of funds available, you will need to secure financing. Check your credit score and gather the necessary documents and information to provide to a mortgage lender in order for you to be preapproved for a specified mortgage amount.
- Find a real estate agent – once you know how much home you can afford, the next reasonable step in your efforts of finding your dream home is to find a real estate agent who is experienced in the market you are looking in. For Paradise Valley, there is no one with more expertise in the market than Jeff Barchi. Having a knowledgeable market professional and experienced negotiator can be a huge advantage during the search and closing of your future home.
- List out your needs and wants – the number of bedrooms, bathrooms, garages, pool or no pool, kitchen layout, fenced-in yard, bonus room, one- or two-stories, and many other considerations should be thought about when you are starting your search. It does no good even to consider looking at a home that does not meet your main “needs” because settling on a home is never a good situation. With that being, there are times where compromises can and should be made, but that is entirely up to you to decide.
- Visit more than once – it is a good idea to plan on visiting your potential purchase more than once to make sure it is a good fit. Buyers’ remorse on the most significant purchase in your life can be a terrible feeling. Your new Paradise Valley house should give you that sense of “home” when you drive up and walk through its doors.
- Make an Offer – making a competitive but reasonable offer is more of an art rather than a science and this is where an experienced Paradise Valley real estate agent like Jeff Barchi can be a true advantage. Knowing market comparisons, property values, etc. should all be factored in along with home much desire, you have to own the home when calculating an offer.
- Closing – when the price negotiation has concluded and an agreed-upon purchase has been reached, then all that is left is closing on the property and getting the keys to your new home. Ensuring that all the documents and processes are completed as well as securing the mortgage are all crucial to the actual closing of the property. Missing a step or forgetting to have something done can be a costly mistake. But do not get us wrong; there will be much excitement when this step in the process is reached and you should enjoy it. You will only be a first-time homebuyer once.
We understand that searching the market and the process of purchasing a new home can be extremely overwhelming and complicated. Jeff Barchi has more than 20 years of experience in Phoenix area residential markets and his track record of success more than speaks for itself. Being a part of more than 1,000 real estate transactions so far in his career, Jeff has established himself as the premier real estate agent serving the markets of Phoenix, Scottsdale and Paradise Valley. Buying a house for the first time may seem daunting, but with Jeff Barchi guiding you through it, you can rest easy knowing that experience and success are on your side.