Financial Information
Laguna Woods Village, Laguna Woods
Two types of home ownership exist within the gates of Laguna Woods ,
cooperatives
and condominiums. Benefits and services are specific to the individual
ownership type. The Mutual Associations which control these individual
types have established their own financial requirements that must be met
by the buyer prior to close of escrow.
Ownership Requirements
Age:
One resident must be 55 years of age or older. The spouse may be 45.
Financial:
Annual income of at least: Cooperatives Condominiums
Per Household: 36,000 $42,000
Asset requirement*: Cooperatives: Assets equal to the total purchase price of the manor plus $125,000 in liquid, marketable or income producing assets.
Condominiums: Assets equal to the total purchase price of the manor plus $125,000 in liquid, marketable or income producing assets.
Monthly Fees
1. Cable television
2. Building insurance (fire and damage)
3. Water
4. Trash pickup
5. Exterior building maintenance (ie.painting and roof care)
6. Grounds maintenance
7. Appliance repair and replacement
Resident pays electricity and phone.
Condominium - $631.00 per month, includes
1. Building insurance (fire and damage)
2. Cable television
3. Water
4. Trash pickup
5. Exterior building maintenance (ie. painting and roof care)
6. Grounds maintenance
Resident pays electricity, phone and property taxes.
A one time Facilities Transfer Fee of $2500 is due from the buyer during escrow.
Laguna
Woods' monthly fees give you access to $25,000,000 worth of amenities,
including 24-hour security and patrol, bus service throughout the
community and to nearby commercial services such as markets,
restaurants, Saddleback Medical Complex, the Laguna Hills Mall, as well
as churches of every denomination.
