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While many homes here are well below the average California home price (indeed,
many homes here are below the national average home price as well), there are
(of course) a couple of catches to the affordability here. Legally,
all residences, whether attached or detached, are considered either
condominiums or co-operatives. Buyers of condos receive
a deed and own the the airspace within the domicile, plus a share of common
spaces used by other residents. Buyers of a co-op become a shareholder in
a corporation that owns the building, and the buyer carries a leasehold
interest in the individual unit.
All residents, condo owners and co-op owners, pay a monthly HOA fee, and
this fee is rather steep, an average of $500 per month (slightly less for co-op
owners). It covers a good deal, including water, trash collection,
basic cable TV, landscaping, all home exterior maintenance, 24-hour private
security patrol, shuttle service within the development, $8 green fees and the
upkeep on seven clubhouses, five swimming pools, the two golf courses, an
equestrian center and more than 230 community clubs. Still, $500 a month
can be a significant fee for some seniors. For co-op owners, the monthly
fee also includes property taxes and interior maintenance as well; now
this seems like a good deal.
There are also income requirements to living here. Not only must one
person in each residence be at least 55, but co-op buyers must have an annual
income of $36,000 and $100,000 in assets; condo buyers must have an annual
income of $42,000 and $125,000 in assets. Assets can include property,
cash, stocks, 401ks, etc.
Laguna Woods' amenities are many. There are the aforementioned golf
courses (one 27 hole and one 9 hole, plus a driving range and chipping area),
five clubhouses (with five swimming pools, indoor and outdoor), a fitness
center, a performing arts center, a tennis complex with ten courts, a computer
lab, a community library, two garden centers (plot sizes range from 200 sq. ft.
to 400 sq. ft.), classes, clubs and workshops. The equestrian
center features a show ring and a grandstand and provides an opportunity for
riding lessons and trail rides; they also board horses. Saddleback
College offers the Emeritus Program in which 100 courses are available to
residents of Laguna Woods. Social workers are also available for
counseling as needed.
The city of Laguna Woods has been named one of the safest places to live in
the U.S., and Laguna Woods Village is safe as well, with gated, controlled
access and roving security patrols throughout the community. They also
have free, guided tours of the development for prospective buyers every 1st and 3rd
Saturday of the month; these include visiting the recreation facilities and
peeking inside two open houses
that belong to current residents. A free lunch is included! Call (949)
597-4369 for more information.
Medical facilities, shopping centers, theater events and restaurants are all
close by, but none are located within the development itself.
Temperatures vary between 65 degrees and 85 degrees throughout the year, and
precipitation is low. It's Southern California.
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