If you are planning to buy or sell a home in Ladera Ranch then you have probably heard of the 'Ladera Ranch Enhancement Fee'. So what is the Ladera Ranch Enhancement Fee? The Ladera Ranch enhancement fee goes into paying for Ladera Ranch Community Services Organization (LARCS). The purpose of LARCS is to foster a sense of community. LARCS is like the community connector, connecting neighbors with each other through community events and programs, with volunteer opportunities and community partnerships. The community news magazine, Roots & Wings, and LaderaLife, the community website, are also managed by LARCS. All of those services exist because of the funds collected from the community enhancement fee.
So how much is the one time payment of the community enhancement fee? The fee is collected whenever a home sells in Ladera Ranch. The fee is typically paid by the buyer because they're the ones that will reap the benefits from living in Ladera Ranch. The fee is calculated as such: 1/4th of 1% of the purchase price of the home. For example, if you bought a home for $500,000 then you would take 1% of that which is $5,000. Then you would take 1/4th of that 1%, so 1/4th of $5,000 is $1,250. So the Ladera Ranch community enhancement fee for a $500,000 home purchase would be a one time payment of $1,250.
Do you have questions about the Ladera Ranch Community Enhancement Fee? Give us a call today!