Want to buy a new home on the Central Coast? Here’s what it will cost you
Hundreds of new single-family homes and townhouses are coming on the market in San Luis Obispo and Santa Barbara counties between now and the next five years or so.
For the most part, prices start in the mid-$500,000s. There are a couple of exceptions: In Guadalupe and Santa Maria, it’s still possible to buy a new home priced under $400,000.
And even in some pricey subdivisions, a small number of units are being set aside for low- and moderate-income buyers. For example, in Nipomo, eight townhouses at Trilogy are for sale through a workforce housing program; one of the units now available is priced at $467,000, not including homeowners association fees.
Even at the luxury Estancia project in Santa Barbara, where townhouses start at $1 million, nine units were offered at affordable prices — $315,000 for a two-bedroom and $360,000 for a three-bedroom — through a lottery open to qualified applicants.
The number of truly affordable units, though, is small, and purchase is often subject to the luck of the draw, to the right timing and to meeting stringent income standards.
For buyers who are looking to purchase a market-rate home, here are recent, advertised prices at several Central Coast developments.
Keep in mind, this does not include homeowners association fees, which can add substantially to monthly housing costs. At Trilogy, for example, townhome buyers pay a $483 monthly fee.
Also, the list is not meant to be inclusive — several projects in the early stages, such as San Luis Ranch and Avila Ranch in San Luis Obispo — have not yet advertised their selling prices.
This story was originally published February 14, 2019 at 10:25 AM.
