Age Requirement

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Age and Financial Requirements

Age Requirements

Only 1 member of the household needs to be 55+ years old or older

2nd household member may be 45+ years old or older

A spouse may be any age!

Attention Investors: You may still own property in L.W. if you are less than 55 years old, you just can’t live there!
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Financial Requirements for ownership in Laguna Woods Village

Please note that there are some exceptions and work-arounds regarding the requirements below. Please contact me directly to discuss your situation

Co-operative:

1. Minimum Annual Income                                                     $36,000

2. Minimum Asset Requirement; Purchase price plus        $125,000

(Exception: If a loan of at least 50% of the purchase price of a Co-operative is obtained, the asset requirement maybe waived)

Condominium:

1. Minimum Annual Income                                                   $42,000

2. Minimum Asset Requirement. Purchase price plus        $125,000

Towers:

1. Minimum Annual Income

    Monthly assessment of the manor plus $1,210. per month, for one occupant. Assessment increases for additional occupants. Actual assessments and requirements are based on the model style, and the number of persons who will be residing.

2. Minimum Asset Requirement ~ None

Acceptable assets are:

  • Equity in improved residential or income producing property.
  • Savings accounts in banks and credit unions.
  • Cash surrender value of life insurance IRA, SEP, 401(k) and Kelogh accounts]
  • US, State or Municipal government bonds -Valued at current market prices.
  • American traded investments, (NYSE, AMEX, OTC, NASDAQ, ETC) valued at current market prices.
  • Mortgages, promissory notes, provided interest is reported on buyer's tax return.
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Why are home prices so low in Laguna Woods Village?
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