Buying a home in Orange County starts with a mortgage pre-approval and a budget that counts property tax, any Mello-Roos and HOA dues. Then you choose a community, tour, and make an offer on the standard California purchase agreement with a good-faith deposit. Inspections, appraisal and loan approval follow during escrow, which commonly closes about 30 days after acceptance.
1. Set a budget that includes the carrying costs
Under Proposition 13, a home is reassessed to its purchase price when it sells, and the basic property tax is 1% of that assessed value, which can then rise by no more than 2% a year. Voter-approved bonds and local assessments are added on top, so the total bill is usually somewhat above 1%.
Many newer Orange County communities, including parts of Irvine, also sit in Mello-Roos (Community Facilities) districts that add a special tax, and most condos and planned communities charge HOA dues. After closing, expect a one-off supplemental tax bill for the change in assessed value.
2. Get pre-approved
A lender's pre-approval tells you what you can borrow and tells a seller your offer can close. In a competitive market, an offer without one is easy to pass over.
3. Choose the community
Orange County's cities differ widely in price, home type and pace. The communities page on this site compares median list price, price per square foot and days on market across every city the team covers, and each community page lists the homes for sale there today.
4. Make an offer
Offers are usually written on the California Association of REALTORS® Residential Purchase Agreement. It sets the price, the deposit, the contingencies and the closing date. The good-faith deposit is commonly around 3% of the price. For a home the buyer will live in, a seller who keeps the deposit as liquidated damages after a buyer default can generally keep no more than 3% of the price (Civil Code §1675).
5. Use your contingency periods
The standard form gives the buyer 17 days, unless the contract says otherwise, for each of:
- Investigation: home inspection, and any specialist inspections it points to.
- Appraisal: that the home appraises at or above the price.
- Loan: that the loan is approved.
6. Review disclosures, then close
The seller delivers the Transfer Disclosure Statement, the Natural Hazard Disclosure and, where they apply, HOA documents and Mello-Roos notices. Read them inside your investigation period. After a final walk-through you sign loan and escrow documents, the loan funds, and the deed records with the Orange County Clerk-Recorder.
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