I agree with Brocco from NY, it is a matter of budget and preference. I have been a Malibu local since 1992 and I can tell you, no two homes or locations are the same!!
You really need to see a variety of areas and home styles to decide. Do you want gated, do you have the budget and desire to be on the sand or would you prefer bluff top? Each stretch of beach and each home will have a slightly different orientation, view, depth of lot, etc. You need to find what "speaks" to you and your needs.
Feel free to contact me for a tour!