The cost of living in Playa Vista CA is an important factor when chosing a home. Let's talk about why people love Playa Vista CA. It is a beautifully planned urban community adjacent to the Ballona Wetlands below the Westchester Bluffs and Loyola Marymount University. Playa Vista with an interesting history linked to Howard Hugh's Spruce Goose and movie sets is a newer community where you can come home, and not have to leave. Inclusive are parks, shops, a library, restaurants, farmer’s market, and events.
Living in Playa Vista, CA the costs are slightly higher than surrounding communities. Being a newly planned and still growing community, as a homeowner, you will be paying an additional tax called Mello-Roos. The supplemental tax is part of a 40 year bond that pays for the community, and its growth. Your state property tax is typically 1.25%. Except in Playa Vista where it is 1.21% Then the added Mello-Roos increases the total percentage to 1.6% instead of the state property tax of 1.25%. Depending on the community growth of Playa Vista the supplemental tax of Mello-Roos can either increase or decrease. Since it's inception over 10 years ago it has decreased by 17%.
In addition to Mello-Roos, you will have your homeowners association dues, HOA or HOD’s, and your community dues. As a resident of Playa Vista, the Centerpointe Club offers you the amenities of a club house pool, gym, conference room. Schools are planned and will be devloped very soon. A modest average of both dues is approximately $600 a month. Be informed when buying that the dues are based on the square footage of the home or condo you buy.
The last cost to be aware of when you buy or sell a home or condo in Playa Vista is a fee. It's three quarters of one percent and will be charged upon sale. This fee goes towards maintaining the parks, community programs, intranet, and operation of the Playa Vista Shuttle Bus, affectionately called the “Playa Vista community enhancement fee". In the past this fee is commonly paid for by the seller, but with market changes and distressed sales the buyer could end up paying for it. Make sure you decide how this is going to get paid before you close escrow.
In summary, the costs of living in beautiful Playa Vista include; Mello-Roos, HOA dues, Community dues, and upon sale the Playa Vista community enhancement fee.
To find homes and condos for sale or to list your home for sale in Playa Vista, please call Kim at 310-309-9130. To search for Playa Vista active listings click here.