Benefits of Buying a Home (and Living in) Bellevue, Washington

Published:
January 10, 2023
Last updated:
January 10, 2023
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As a Seattle-area mortgage company, we often assist home buyers in the Bellevue, Washington real estate market. So we thought it was long overdue to share some of the benefits of buying a home (and living in) Bellevue, Washington.

Whether you’re a newcomer moving into the area, or a current resident making the leap to homeownership, you’ll find the following information helpful.

Bellevue at a Glance: Quick Facts

Bellevue is a city located in King County, Washington, just east of Seattle. It’s the fifth largest city in the state of Washington, with a population of approximately 150,000 people. Bellevue offers a high quality of life and a strong job market, among other benefits.

The city is located in the Pacific Northwest, surrounded by stunning natural beauty. It offers easy access to a wide range of outdoor recreational activities, including hiking, boating, camping and skiing. For these and other reasons, Bellevue has repeatedly earned top rankings as one of the best places to live in the United States.

Bellevue, Washington serves as an economic hub for the Seattle region’s “Eastside” area. It’s home to many major employers, including Microsoft, T-Mobile and Amazon. Over the past 15 years or so, Bellevue has become a hub for software engineering and other technology development centers. Oracle, Salesforce, Google and eBay maintain satellite offices in the area.

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Benefits of Buying and Living in Bellevue

Let’s circle back to the topic we started with. What are the benefits of buying a home in Bellevue, Washington? While one could write an entire book on this subject, we’ll limit it to some bite-sized bullet points.

  • Stable home prices: The Bellevue real estate market typically has more demand than supply. In other words, there are usually more buyers than there are homes available. As a result, home prices in the Bellevue housing market tend to hold their value well over time. This makes it a great place to buy a home, from a long-term investment standpoint.
  • Strong job market: As mentioned above, Bellevue is home to many major employers, including Microsoft and T-Mobile. Home buyers who settle in the area can benefit from a strong job market and employment opportunities.
  • High quality of life: Bellevue consistently gets ranked as one of the best places to live in the United States. This is due to it having excellent schools, parks, and recreational facilities — among other benefits.
  • Proximity to major cities: Bellevue is located just east of Seattle, providing easy access to all that city has to offer. But it still maintains a more suburban feel.
  • Beautiful natural surroundings: Bellevue is situated in the Pacific Northwest, surrounded by mountains, forests, and waterways. It’s located in between Lake Washington and Lake Sammamish, making it an ideal destination for outdoor lovers, hikers, boaters and more.
  • Highly rated schools: Bellevue is home to many highly rated public and private schools, making it an attractive location for home buyers who have children.
  • Shopping and dining options: The city is home to many popular shopping and dining destinations, including the Bellevue Square Mall and a variety of local restaurants.
  • Community events: Bellevue hosts a variety of community events and festivals throughout the year, including the Bellevue Arts and Crafts Fair and the annual Strawberry Festival that dates back to the 1920s.
  • Easy access to airports: Bellevue is located just a short drive from both the Seattle-Tacoma International Airport and the Boeing Field King County International Airport.

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A Competitive Real Estate Market for Buyers

As you can see, the city of Bellevue, Washington has a lot going for it. Home buyers have many reasons to consider making a purchase in Bellevue. Because of this, the local real estate market tends to be highly competitive.

It also happens to be one of Washington State’s priciest real estate markets. When this article was published, in early 2023, the median home price in the city of Bellevue was around $1.5 million. That was well above the statewide average of $610,000, during that same timeframe.

We encourage home buyers in Bellevue to get pre-approved for financing before entering the market. (At least, for those who are planning to use a mortgage loan.) That way, you’ll be able to move quicky when the right property comes along.

The bottom line: Bellevue, Washington can be a highly competitive real estate market, for a number of reasons. So home buyers will want to bring their ‘A’ game when house hunting in the area.

Need a mortgage loan? We are a local, family-owned mortgage company that serves Bellevue and the rest of Washington. Please contact us if you have financing questions or would like to apply for a loan.

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