Playa Vista Homebuying Guide: Navigating Community Fees and HOA Dues
If you're considering purchasing a home in Playa Vista, it's essential to familiarize yourself with the various fees and costs that you'll encounter as part of your investment. This guide will walk you through the Community Enhancement Fee, Mello Roos, Homeowner's Association (HOA) dues for both the master and individual associations, and what they cover.
Community Enhancement Fee
When a property changes hands in Playa Vista, 0.75% of the sale price is allocated to the Playa Vista Community Services (PVCS). This fee aids in funding community amenities such as summer shuttles, park concerts, outdoor movie nights, and seasonal events. A portion also goes towards conserving the Ballona Wetlands. Who pays this fee can vary with market conditions; it might be the seller, the buyer, or a shared responsibility.
Mello Roos
Apart from the standard Los Angeles County property tax, Playa Vista homeowners pay a Mello Roos tax, which is a special tax used to fund infrastructure like sewers, parks, traffic improvements, and more. The amount you'll pay is dependent on your property's square footage and will continue until the bonds issued under the Mello Roos Act of 1982 are paid off, which is currently projected for the year 2031. The tax can increase by up to 2% per year. See chart on the right for more info.
Phase I and Phase II Homes
There is a distinction between Phase I and Phase II homes regarding the Mello Roos tax. Phase II homes are exempt because the cost of developing the community's infrastructure was covered by the builders and factored into the selling price of the homes.
Playa Vista Parks and Landscape (PVPAL) HOA
The PVPAL HOA, also known as the master HOA, is a fee paid by all homeowners in both Phase I and II. It includes basic cable, high-speed internet, alarm service, gym and pool access, use of parks and courts, 24-hour security, and a free beach shuttle.
Individual Building and Detached Home HOAs
Each building has its own HOA with fees varying based on the amenities offered, such as landscaping, trash removal, water, maintenance reserves, management company fees, and insurance for common areas. Higher-priced HOAs typically offer additional amenities like elevators, pools, or concierge services.
When buying a home in Playa Vista, it's important to account for these fees in your budget as they contribute to the lifestyle and maintenance of the community's shared spaces and services! Whether you're drawn to the vibrant community events, the tranquil natural preserves, or the modern conveniences of HOA-managed amenities, understanding these costs will help you make an informed decision about your investment in Playa Vista.
Thinking about buying in Playa Vista? Reach out to Megan today at (310) 845-6209.