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A “Bachelor” Love Story in Phoenix: Arie and Lauren Buy a Home
You may have seen them on screen — now you may see them in your neighborhood. The Bachelor season 22 stars Arie Luyendyk Jr. and Lauren Burnham recently purchased a home in the Arcadia/Biltmore area. The stunning home, purchased for $860,000, features four bedrooms, four bathrooms and a spacious open kitchen.
This isn’t exactly a leap for the former bachelor or his future bride. Luyendyk Jr. was a RE/MAX real estate broker in Scottsdale, Arizona before he became The Bachelor, and Burnham is reportedly pursuing her real estate license. Could this be the new Phoenix real estate power couple?
Meet the Lovebirds
Luyendyk Jr. and Burnham actually met before The Bachelor filmed. A professional race car driver, the 36-year-old leading man reportedly met Burnham at a race in Dallas the summer before the show aired. Sparks must have been ignited, because Luyendyk Jr. proposed to Burnham in March 2018. She moved from Virginia to the Valley shortly afterward, and they're slated to get married in January 2019.
Luyendyk Jr. currently owns another Valley property — a Scottsdale condominium — which he purchased for $457,500 in 2007. He commented about a lack of privacy at the condo — perhaps a reason why the engaged couple shopped around nearly 70 properties before grabbing the keys to their new Phoenix home.
Luyendyk Jr. and Burnham are just one example of celebrities who love to call the Valley their home. Swimmer Michael Phelps, Jimmy Eat World singer Jim Adkins, and basketball star Charles Barkley are just a few notable names who have homes in the Valley.
Phoenix is one of the country's sunniest cities, and with plenty of dining, nightlife and sports entertainment to enjoy, it's no wonder the Valley attracts people from all over the world to settle down here.
Want to be a Phoenix homeowner like Luyendyk Jr., Burnham and other savvy homebuyers? Here are some tips:
The Phoenix Home Market Continues to Heat Up
The current Phoenix housing market is hot, hot, hot — with 2017 home sale numbers higher than any year since 2006. More encouraging stats regarding the 2018 Valley market include:
- Seven percent more resale homes were sold in December 2017 versus December 2016.
- As of January 2018, there was a 4.4 percent year-over-year increase in Arizona agents and brokers with active licenses — an indication of the growing market.
- In 2017, 11 percent more newly built homes were sold year-over-year.
AZ Big Media reports that the metro Phoenix area is one of the most affordable western U.S. metro areas, with the median home price at $245,000 in 2017. As more millennials are entering the market, continued growth is expected in 2018 and beyond.
That's great for new home purchasers like Luyendyk Jr. and Burnham, who may be able to sell their home for more than they purchased it in the future.
How to Become Phoenix Homeowners Like “The Bachelor” Couple
With a variety of home loan options available, homeownership is within reach for many of those who want it. With some home loans requiring as little as 3.5 percent down, you may be able to afford more home than you think. If you're considering purchasing a home in Phoenix, here are some tips for shopping around:
Get Prequalified for a Home Loan
Talk with a home loan specialist to see what type of home loans you could potentially qualify for before you spend time shopping. This will give you confidence as you shop, since you'll know how much home you can potentially afford. Of course, you know your budget best, so you can determine how much you actually want to spend. Don't forget to budget for closing costs, which are generally 2–5% percent of your loan amount.
Be Open to Renovations
You may be able to purchase a home for less money if you're willing to do renovations yourself. Add renovation costs to your budget as you shop.
Find a Real Estate Agent You Can Trust
If you can't get a referral from a close friend or family member, research potential real estate agents before committing. You'll be working closely with a real estate agent during the homebuying process, and you want an advocate who will get you the most value for your budget. You can ask to talk with recent clients or request testimonials, research the agent's most recent listings, and find out about their experience and licensing. Also, make sure the agent has experience in the areas you're shopping in before working with them.
Provide a Strong Offer
In a competitive housing market, the stronger your offer, the more likely it will be accepted. Your agent may recommend an amount to offer and negotiate for you so that you get the home you want.
Find a Dream Loan for Your Dream Home
Talking with a home loan advisor is a great first step to get started on the homebuying journey so that you can understand your options. Your loan, along with other factors — such as mortgage insurance and taxes — will dictate what your monthly payment will be. And you want to keep that payment manageable for you.
As you can see from Luyendyk Jr. and Burnham's extensive home search, it takes research and due diligence to find a great home match. But it’s worth the effort to find the perfect pad for you and your family. There are so many reasons why Metro Phoenix is a beautiful place to live, raise a family or just enjoy life. Having a place to call your own makes living in the Valley even more special.
READY TO BUY A HOME?GET PREQUALIFIED