California is where the dozens of high-profile celebrities live, which isn’t a surprise considering the lovely climate and fantastic ocean views. These are all reasons why so many people want to live in California as well, and multiple business opportunities only sweeten the deal. However, if you are one of those who want to be neighbors with celebrities, you will need to make as much money as they do, or nearly as much. You won’t be able to maintain a mansion in the ‘hottest’ parts of the state otherwise.
How Much Does It Cost to Live Next to Celebrities?
When you come to California, you can spend days simply going around and ogling the many beautiful celebrity mansions. Of the many places to admire, you definitely should try to catch a glimpse of the gorgeous residence of Oprah Winfrey or Jeremy Renner’s 5,956 sq. feet mansion (and isn’t that an upgrade compared to the rickety farmhouse of the Hawkeye’s family in the Avengers). The amazing homes of Jennifer Lopez, Steve Martin, Stan Lee, and dozens of others also deserve your admiration.
But before you get lost in daydreams of meeting your favorite actors as neighbors, you need to consider your budget very closely. You see, the median price of a real estate in the prime areas of California is around $1,000,000.
If that number alone doesn’t make you faint and you can actually afford to buy a property in such a neighborhood, you need to think about how much it will cost you long-term. You see, the cost of living in the sunny state of California is among the highest in the country and world in general.
Can You Afford to Maintain a Luxurious Mansion?
Living in a mansion is amazing, there is no doubt about that, but it’s also expensive, even beyond the exorbitant price of the property itself. The reason for this is simple, a home like this requires extensive maintenance.
All those amazing home systems that make the house modern and cool must be serviced regularly and repaired when they inevitably break down. As they are top-quality, those repairs won’t come cheap.
Of course, there are ways to cut those costs, at least a little. One of the most efficient is the home warranty contracts, which are basically upgraded extensions of manufacturer warranties, but with much wider coverage. In light of this, it’s not a surprise that such warranties are popular in the CA area. They allow you to cut the expensive repair costs to a minimum and provide protection for a rather moderate premium.
Home warranty companies also help you deal with any repairs and maintenance because they serve as an intermediary between yourself and contractors. This means that you don’t have to waste time searching for a contractor to fix any of the systems or appliances. The company has its own network of trusted licensed specialists and will deal with them in your stead.
You also shouldn’t forget other necessary maintenance costs for such a high-class property. Those include but aren’t limited to:
- Pool maintenance (there’s no way a mansion like this doesn’t have at least one pool)
- Water and energy bills (prepare to be shocked with their size every time)
You, probably, should count your gas and commuting costs into this as well because these neighborhoods are located out of the way to provide more privacy to the residents. Therefore, going to work won’t be a fast and easy feat.
Note that neither home insurance nor home warranty will cover all your possible maintenance and repair costs. Therefore, you’ll need to pay large amounts of money out of pocket regardless of how careful you are.
Those expenses will be compounded by such basic things like food bills (and food in CA is insanely expensive) and money you spend on entertainment (even a cup of coffee with your friends doesn’t come cheap here). That’s not even to mention the investment you’ll need to make in your car, clothes, and appearance, because you’ll need to look the part when living in a high-profile celebrity neighborhood.
So, Should You Move to California?
Living in CA, especially in the areas where celebrities live, costs a fortune. Therefore, you should only move there if you have a fortune to spend. Bear in mind that your fortune must be big enough to sustain this kind of lifestyle.
If you aren’t among the rich, it’s definitely not worth it to spend your life’s savings on a mansion that you won’t be able to maintain in the long run. Be realistic about your abilities and don’t gamble your chances of prosperity on the fleeting ego trip you’ll get from being neighborhoods with celebrities. They are private people anyway and you definitely won’t get a chance to become friends over borrowing a cup of sugar or share stories over the fence while working in your garden.