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How to Buy Real Estate in Rossmoor, Walnut Creek CA 55+ community

Buying real estate in Rossmoor is similar in many ways to buying real estate in any other community; however, there are significant differences.  Hiring an agent who specializes in Rossmoor and is familiar with the specific procedures is important to a smooth and successful purchase.

Here are some quick points for individuals interested in buying real estate in Rossmoor, the premier 55+ community in Walnut Creek:

How much does it cost to live in Rossmoor? Are there membership fees?  What about HOA fees?

  • The actual purchase of property in Rossmoor is much like the purchase of other properties.  Rossmoor properties include single-family homes, condos, and coops, ranging in price from the low $300,000’s to over $1.5 million.  To see currently available properties in Rossmoor, click here.
  • There is a mandatory one-time “buy in” transfer fee to the Golden Rain Foundation (Rossmoor’s non-profit governing body), which is used for capital improvements and maintenance of Rossmoor amenities and facilities. Currently, this fee is $9,000 but is scheduled to increase to $10,000 as of July 1, 2019. If you move from one property to another within Rossmoor, you can apply to waive this fee.  For more information about the Golden Rain Foundation, click here.
  • HOA fees tend to be higher than many other communities (typically $800-$1,000) but are offset by the savings of what is included with these fees. See my post “What do HOA fees at Rossmoor include?” for more detailed information.

Can children live in Rossmoor?

  • At least one member of a Rossmoor household must be age 55 or over.  Residents need to be able to live independently.
  • Other residents of a household may include a spouse, a caregiver (can be resident’s child), or a disabled child.

How many people live in Rossmoor, Walnut Creek?

The population of Rossmoor, Walnut Creek is between 9,000 and 9,500 people. The 6,700 residential units are comprised of condominiums, cooperatives, and single-family homes.

Why are cooperatives so much less expensive than condominiums at Rossmoor?

When you purchase a cooperative, you’re purchasing “stock” in the mutual association and the right to live in a unit, rather than outright ownership of the home.  This can affect potential financing options when you buy real estate at Rossmoor. For an explanation of the different kinds of units, see my post What is the difference between a cooperative and a condominium at Rossmoor?

I am a certified SRES Rossmoor specialist and would be happy to answer any questions you may have.  For a free, no-obligation, no-pressure tour of Rossmoor, schedule online at www.rossmoortour.com, call me at 925.699.0031 or email me at tom@tomnevin.com. The tour is tailored to your specific interests, and can include a visit to available real estate, if desired.

Click here to see currently available Rossmoor condos for sale, or Rossmoor coops for sale.

 

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Copyright ©2019 Tom Nevin. All rights reserved.  Helping buy real estate in Rossmoor, and the greater East Bay Area.

Posted on September 21, 2019 at 9:04 am
Thomas Nevin | Category: All Blog Posts, Rossmoor | Tagged , , , ,

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