Savings You Should Have Before Moving To LA

Posted by: KHTS Articles in News Articles May 6, 2021 - 9:13 am 0 530 Views

Los Angeles is a city that is built on water which makes it really unique and one of its kind. People living here have a very lavish life rather than a peaceful one. For sure LA is a really expensive city to live in and you should be financially stable if you want to settle in LA. Generally, you should start saving even before you think of moving to LA as potential living expenses there are much higher than in other small cities. you ca calculate the moving cost as you click here, but you must know the full details before you make any decision. Everything, from transportation to your monthly rent, everything costs a bit higher.

Here are some tips you might find beneficial and help you decide where and how to save or spend money or in which areas you might have to spend more if you move to LA.

♦ Mandates and Utilities

Basic daily necessities like water, electricity and the internet might cost you a little expensive compared to other cities. Due to the warm climate, you might also need to spend little extra bucks on air conditioning, resulting in higher electricity bills. The Internet also would cost around $60 a month which is fairly higher.

When we talk about groceries they are also generally on the higher side costing you more than $200 per person monthly. If you ditch the luxury food stores and choose a more moderate one then you might save a little money and it is always recommended to rely on regular groceries rather than whole foods.

♦ Public Transport

The connectivity of the metro in Los Angeles is not that great and it doesn’t cover most of the area there. Monthly Metro pass in LA costs around $100 but as a matter of fact that if it doesn’t cover the area you have to commute regularly then it might be not that worth it for you. If you don’t own a car then you might get around via any of those rideshare apps which might extend your budget but still would cost you less than owning a car yourself. Getting yourself for a two-wheeler in LA would be a good and convenient decision.

♦ Owning a Vehicle

Getting yourself a new car in LA might cost you around $20000 added to that you would also have to spend some extra bucks on its maintenance, gasoline, parking tickets, insurance, etc.

Already knowing that a personal vehicle would cost you higher annually than getting a rideshare cab or an uber but the ease and mobility offered by a personal vehicle are pretty much self-explanatory. Also, a good to know fact is that gasoline prices in California are also expensive than in the other states.

♦ Territorial and Rental Expenses

LA has one of the most expensive prices of real estate throughout the whole United States. In the past few years, the prices and rent of houses have skyrocketed

Especially the west of LA is much more expensive than the east of LA. In a way rent is the most important aspect to keep in mind when thinking of moving to LA.

Even a 1-Bedroom apartment would cost you around $2000 per month and in the areas like Santa Monica, Downtown, or Beverly Hills, this can go even higher. If your budget is too tight then you might think of moving to East Los Angeles and could choose an area like Lincoln Heights or Boyle Heights. They are not as much popular or crowded but are as good as the West.

Also, finding a roommate can be beneficial if on a stiff budget. You could easily split your expenses and finding one is also not difficult through Facebook or Craigslist.

Many websites like Zillow or Craigslist can help you find a better deal or property so make sure to have a glance before moving.

Buying your own property is a big affair here in LA as square feet costs are regularly soaring due to high demand. In LA per square feet cost of houses range from $500 to $1500, where Beverly Hills is the most expensive area throughout the city.

♦ Jobs

Landing on to a good job in Los Angeles is not that difficult. If you meet the recruiter’s required qualifications then you can easily grab a job of your choice.

Due to the high population and lavish lifestyle of riches, there is a good demand for people in the market. With a lot of corporate offices in the proximity of California, you have a greater chance of applying and getting a job and start your work life.

Saving and starting to work early are the key aspects to keep in mind before moving to LA. If you keep a few moving tips in mind and have a good mindset then it could easily survive in Los Angeles and live a good and posh life.