Watch this five-minute video as Mark Bruno and Jeff Davi discuss three things to consider before buying a home on the Monterey Peninsula: exploring the area's different communities, understanding property taxes, and choosing a location that fits the lifestyle you want to enjoy.
Video Summary: Three Things to Consider Before Buying
Whether you are looking for a full-time residence or a second home, getting to know the Monterey Peninsula is an important first step. The following summary supports our discussion in the video, with an updated clarification about property taxes.
1. Explore More of the Area Before Choosing a Neighborhood
Many buyers arrive with a particular community in mind. Once we show them around, they often discover options they had not considered. Even within the same city, neighborhoods can offer very different settings, homes, and day-to-day experiences.
In Pacific Grove, the historic homes and proximity to downtown in the Old Retreat offer a different experience from the coastal setting of the Beach Tract or the wooded surroundings of Asilomar. In Carmel, buyers drawn to the Golden Rectangle may also want to explore Carmel Point and compare the setting, access to town, and available homes.
Before narrowing your search, let us take you through several areas. Seeing those differences in person can help you decide where you would feel most at home.
2. Understand What to Expect in Property Taxes
Property taxes belong in your ownership budget from the beginning. California's base property tax rate is 1% of assessed value, with additional voter-approved debt charges and applicable parcel taxes or assessments. The total varies by property.
Updated clarification: A figure such as 1.25% should be treated as a preliminary budgeting estimate, not a uniform tax rate across the Monterey Peninsula. A purchase generally triggers reassessment to current market value, subject to applicable exclusions, so the seller's existing tax bill may not reflect what you will pay. Supplemental tax bills may also follow the purchase.
Before making a decision, review the specific property's tax information and obtain an estimate based on your purchase. For background, see California's property tax overview and the State Board of Equalization's supplemental assessment explanation.
3. Choose the Lifestyle You Want to Enjoy
Think about how you want to spend your days here. Would you like to walk to restaurants and shops, take regular walks along the coast, or have more space and privacy? Are you comfortable driving to your favorite activities, or is being close to town a priority?
Climate matters, too. A home near the water does not necessarily mean warm, sunny beach weather. Coastal fog and cooler temperatures are part of life here, and conditions can change from one neighborhood to another. For some buyers, that cool weather is exactly the attraction.
Matching the location to your routines and preferences is just as important as finding the right floor plan. Our goal is to help you understand the choices before you commit to a home.
Explore Your Options With Mark and Jeff
If you are considering a home on the Monterey Peninsula, we would be happy to talk about your plans and introduce you to areas that fit what you are looking for. Call the Monterey Peninsula Home Team at (831) 917-8190 to plan your next step.