What to Look for in a Neighborhood
The Temecula Valley is an awesome location for Veterans to purchase a home. The city welcomes them and has taken several concrete steps to show appreciation for Veterans and active military personnel. Since 2007, Temecula has worked with non-profits, businesses and public entities to welcome Veterans into the city, to establish programs and host events. The Military Banner Program displays official military photos of service persons who reside or have immediate family living in the City of Temecula. The banners are displayed around the city and list their name, rank, and branch of the US Armed Forces. Veterans and military personnel wounded in combat are provided with specially designated parking spaces in participating businesses and parking lots. This program is sponsored by the Wounded Warriors Family Support Organization. Temecula also features the Veteran Paver Campaign, a “Path of Honor” and memorial located at the Temecula Duck Pond. The paths are made up of permanent granite pavers engraved with the names of women and men who have served in the Armed Forces.
Knowing that the city will provide a warm welcome to active military and Veterans, you might then ask yourself about specific neighborhoods in the Temecula Valley. Choosing a neighborhood is one of the most important considerations when you plan to move to a new city. Why? Because a home purchased on the resale market can be altered and renovated to a certain extent. But the location of the actual house is permanent.
One neighborhood can have substantially different traits from another neighborhood just a few miles away. You will want to match your family’s lifestyle and needs with affordability. So it’s important to hone in on your specific preferences. Consider the proximity of the neighborhood to your place of employment. What will your daily commute look like? You might want to get information about nearby schools and community centers, along with scoping out shopping centers and local businesses. Do you prefer gated versus ungated communities? You might also think about walkability and neighborhood amenities like parks, pools and bike paths.
Affordability and Value
Property taxes are an important element when comparing neighborhoods. It can be easy to focus on monthly mortgage payment amounts and forget about the difference between owning a home in an area with a 2.5% tax rate versus a 1.15% tax rate. Property taxes can slowly increase over time, so you will want to consider that in your budgeting. (No one would ever do that or has ever considered that. They fluctuate with home values.)
There are some key differences between buying a home in an established neighborhood versus a newer development, with higher taxes. Established neighborhoods with established infrastructure such as roads and schools do not rely on an additional property tax, common to new communities in California. Mello-Roos property tax is assessed when developing new communities that require this new infrastructure to be built. Mello-Roos property tax can often double your annual tax liability for a home purchased in a new community. See the Riverside County Tax Assessor for more information.
The prices of homes for sale in Temecula are an even more attractive option for Veterans as soon as you factor in the benefits of using a VA home loan. VA loan limits have increased as of January 1, 2019, and this means that you can get a lot of house for your hard-earned money. Since loan limits have increased from $453,100 to $484,350, Veterans now have 6.9% more to work with when purchasing a house. Use our VA loan limit calculator and see the numbers for yourself. You can afford more than you think!
The City of Temecula, which is located in Riverside County, conforms to the current VA loan limit of $484,350. This is the standard VA loan limit in most circumstances (unless you are purchasing a home in a “high-cost county,” but this doesn’t apply to Temecula). If you go above this standard limit, then you have the option of using a VA jumbo home loan.
Best Neighborhoods in the Temecula Valley for Veterans
We can highlight specific neighborhoods in the Temecula Valley now that you have a better sense of what you will want to look for when it comes to the location of your new house.
The average property tax for homes in Riverside County is 1.102%. The average property tax for homes in Temecula is only slightly higher at 1.15%. However, some neighborhoods in Temecula have lower property tax compared to the county and the rest of the city. In fact, some neighborhoods have a tax rate as low as 1%. If you compare home prices and property taxes for current listings on our home search page for Temecula, a couple of neighborhoods, in particular, reveal this lower-than-average tax rate of 1%. This includes the neighborhoods of Redhawk, Vail Ranch, and North Temecula.
The Redhawk neighborhood dates back to 1991. Comparing current listings’ homes prices and property taxes in this neighborhood reveals a lower-than-average tax rate of 1%. Ranch-style homes boast beautiful landscaping for those who enjoy outdoor living, perhaps starting their day with a cup of coffee on the patio and ending the day with a backyard barbecue. There is also a public golf course and 3.5 miles of nature trails.
The Vail Ranch neighborhood was developed on historical land in the early 1990s. It was originally the site of a cattle ranch owned by Walter Vail, a founder of the City of Temecula in the early 1900s. The area is adjacent to the Redhawk neighborhood, so residents have easy access to the Redhawk Golf Course. The neighborhood is close to shopping centers, local freeways and has excellent schools.
Homes in North Temecula also have competitive property tax rates. So you will want to check out those listings, too. Overall, the City of Temecula provides a relaxed atmosphere for those who enjoy a country setting, rolling hills, and vineyards. If you have been persuaded to move to any one of these fine neighborhoods, check out home listings for Temecula right on our website!
Contact SoCalVA Homes Today
While the City of Temecula warmly welcomes Veterans, this doesn’t mean that working with individual sellers will be a smooth process. It’s not uncommon for sellers to be hesitant or even unwilling to accept offers from VA home loans. There are a lot of misconceptions about VA home loans, so it’s understandable that there are biases against buyers who are Veterans making VA offers Sellers mistakenly believe that they will get stuck with closing costs or will have to do a significant amount of home repairs before selling to a Veteran. Sellers also mistakenly believe that VA home loans take longer to close than a traditional loan. SoCalVA Homes is committed to busting these myths, helping you to overcome any hurdles in the process of buying a home.
SoCal VA Homes has developed three programs to help Veterans navigate the process of buying a home, and we are committed to assisting you from start to finish. Read more about our flagship Dreamweaver Home Purchase Process, as well as the 100% VA Construction Loan Program and Veteran’s Angel Program.