Your purchase budget should start with what you can comfortably afford, not a townwide price. I want your Larkspur search to reflect your priorities without allowing an appealing listing to set your financial limits.
The latest market report covers Lakewood single-family homes and condo, townhouse, and apartment properties, rather than Larkspur. For Lakewood, the typical sale price was $565,000. The typical asking price among homes listed for sale was $525,000. These listed and sold groups do not establish a purchase budget or a home value in Larkspur.
I would separate your comfortable monthly housing expense from the maximum amount a lender might approve. A property's asking price cannot tell you whether its ongoing expenses fit the budget you have chosen. Keep the money needed at closing separate from reserves you want available after the purchase.
Ask your lender to explain the payment and money needed at closing for a home you are considering. Write down the maximum price you are comfortable offering before we discuss a particular listing. Identify must-have features and flexible preferences so your search stays focused when choices require tradeoffs.
