What Retirees Need to Know Before Moving to Laguna Woods Village

By Danae Aballi

Danae Aballi is a long-time real estate industry veteran. She has worked in various positions in the industry having grown from an independent real estate agent to running a team of 5 top producing agents.

Are you looking for affordable properties in Orange County? Then, let me tell you about Laguna Woods Village, a community of 18,000 residents designed for 55-year-olds and older.

In Orange County, the median home price is $1,150,000, while in Laguna Woods Village, it’s only $410,000, which is nearly a 50% discount. It’s a price point that attracts a lot of interest from people who want to own a property. But before you buy, whether for a primary residence, investment, or second home, consider these factors:

Stock cooperatives. About 50% of properties in Laguna Woods are stock cooperatives. When you buy a property in a stock cooperative, you receive a stock certificate indicating ownership, but the cooperative owns the condo and receives the property tax bill. You hold the stock certificate, which grants you rights to use the property. You can sell, remodel, or pass it on to your children.

Condo opportunities. Investors can purchase condos to flip or rent out, even if you’re under 55, as long as you rent to a senior. Stock cooperatives cannot be rented out; you must intend to live in them, and they require all cash purchases, as financing options are unavailable.

If you buy a condo for rental purposes, be aware of rental cap restrictions—currently, condos allow up to 30% of units to be rented. The community is nearing this cap, which may affect your eligibility. Stock cooperatives can be rented out after you live in them first, capped at 25% of total units, and they are less likely to reach this cap.

HOA fees. HOA fees in Laguna Woods Village average around $850 per month, varying by building. Fees can be as low as $815 but may exceed that amount. For stock cooperatives, the HOA fee covers property tax. You may receive a small bill at year-end for any additional property tax assessments, but most taxes are included.

Amenities and activities. Laguna Woods Village offers numerous amenities, including seven clubhouses, five swimming pools, 36 holes of golf, an equestrian facility with 39 horse stalls, and an RV park for over 400 RVs. There are community gardens, more than 250 clubs, and an 800-person music theater for concerts and events.

Transportation services. A bus system transports residents around the community and to nearby locations for errands, banking, grocery shopping, and dining, helping residents complete their daily tasks.

Laguna Woods has a lot to offer, and I have successfully sold several properties there. If you want to buy or sell in Laguna Woods or know someone who might be interested, please reach out to me at (949) 216-8565 or danae@danaeaballi.com. I’d be happy to talk with you.