Laguna Woods - "Requirements"? (Irvine, Orange: apartment, to rent, HOA fees)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
What were they? I was trying to move there a few years ago....but to a 1 BR/1 BA, which is all I could afford. I think the income was in the $35-40K range...assets maybe $300K or so? I don't know if it changes depending on which section you're in.
What were they? I was trying to move there a few years ago....but to a 1 BR/1 BA, which is all I could afford. I think the income was in the $35-40K range...assets maybe $300K or so? I don't know if it changes depending on which section you're in.
I can't recall the exact numbers at this point. Was looking a few weeks back. But they did seem to have different documents for different communities.
Your numbers look about right.
For my purposes, said requirements are prohibitive.
I'm looking into Laguna Woods as a retirement option for my parents-in-law. The were refugees that came to this country in 1981 and spent just about everything they had to provide for both their kids and relatives back in the mother country. Sadly, they are not in the best financial shape and he was recently forced into retirement. His pension should pay out around $30K-40K a year and I believe they have about $200K saved away. Fortunately my wife and I are doing well and are willing to buy them a place in Laguna Woods and my sister-in-law is willing to pay their HOA fees. I'll have to look into how to go about this and we are cautious to transfer any money to my father-in-law.
He has a very poor ability to assess risk and only sees the potential upside. He's a good man, but he's be prone to spend his money on "magic beans." It's not to the point where we need to do a legal conservatorship, but my wife and I definitely need to setup guardrails to make sure he doesn't do anything foolish. My mother-in-law is very risk-averse but her cultural values has her holding everything in and doesn't want to squash her husband's dreams. They have no problems making friends and their recent knees and shoulder surgeries has them enjoying outdoor activities again. I just hope we can figure out a way to make this a possibility for them.
Kwong7, depending on their age (not trying to be morbid), it may be more fiscally sound over time to rent them an apartment in nearby Irvine. Lots of activities, lots of people and stores of cultural similarity, and proximity to family. It may be cheaper (Especially with the sister in law chipping in) to pay rent for the remainder of their life expectancy than to pay into Leisure World in a huge bulk house purchase.
This would have to factor in their current age, health status, lifestyle habits (smoking, drinking, exercising - or not, etc.)
Anyhow, just throwing it out there for consideration.
Wow how can retired elderly people pay that every year?? Do they have apts you can rent?
It's Orange County California so it's going to be expensive.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
