With pristine views, strong communities, and a quiet, relaxed lifestyle, it is little wonder that for many people, owning a home in Napa is the epitome of the American Dream. Not to mention, a close proximity to some of the greatest wines in the world is definitely an added bonus.
Whether you are looking to simply enjoy the lifestyle of this great region, or if you are hoping to turn a grape-growing hobby into a thriving vineyard business, here is our guide to the most important things to know when buying Napa real estate.
What financing are you eligible for?
If you require a mortgage for your Napa dream home, you will need to consider the type of financing you are eligible. While properties with small ‘hobby-sized’ vineyards may qualify for a standard mortgage, plans for a commercial vineyard will almost certainly require financing from an agribusiness lender.
An agribusiness lender will need a great deal more information about the type and quality of the land you are purchasing, the health of the vines and variety of grapes. We would recommend that you consult with an experienced, knowledgeable land consultant, when putting together your business forecast and finance application.
Decide on a neighborhood
One of the hardest things about finding a new place to live can be settling on the perfect neighborhood – and Napa has plenty of wonderful ones to choose from. The neighborhood you settle on will need to fulfill your school system requirements (if you have children), along with amenities and community requirements.
You may want to spend some time exploring the different areas and spending time in each,so that you can find the one that best fits your requirements. Some people recommend traveling around each neighborhood by bicycle, as the slower pace helps potential buyers to get a real feel for the environment.
Your budget will play a large part in the neighborhoods that you choose from too. While neighborhoods made up predominantly of larger, commercial vineyards can have properties costing much more, other areas, such as downtown Napa, might be more affordable.
Hire a great Accredited Land Consultant
If you are relatively unfamiliar with Napa, hiring an experienced, local land consultant can be hugely beneficial, as a great one will have the inside scoop on properties, communities and local legislation. Homes in Napa are always in high demand, and we often find out about potential home sales before they hit the online listings. This gives you the distinct advantage of being able to view and put in an offer first, before the competition really starts to close in.
If you are looking at your Napa property purchase as a second home with rental potential. However, Napa County has now put a limitation on the number of short-term rentals you are allowed to offer. We will be able to advise you if your rental plan is permissible. This can be particularly important if you are hoping to use rental income to finance your second home.
Understand the sense of community
If there is one word that sums up living in Napa, it is community. Across Napa there is a deep sense of community and responsibility. Residents are eco-friendly, and to become part of the community, it will be a good idea to share similar values. By buying real estate in Napa, you will get to experience not only the comfort and joy of being part of such a wonderful community, but also make an important investment decision. Want to learn more about real estate in Napa? Call our experienced agriculture Realtor, Jason DurJava, ALC, today at 209-431-0400.