Where to Live After Retirement in Burbank - Burbank - 1

A couple living in Burbank shared that the monthly costs of hiring a landscaping company have become increasingly burdensome after retirement. Having lived in a single-family home with a large front and back yard for many years, they found themselves dealing with many tasks such as tree trimming, lawn care, and sprinkler repairs. As their income decreased after retirement, these expenses began to feel particularly significant. Consequently, they started seriously considering moving to a condo or townhome where yard maintenance is not required.

The first concern that arises is the difference in home prices. As of the first quarter of 2026, the median price for single-family homes in Burbank is around $1.3 million, while the median price for condos is $743,000 as of the second quarter of 2025. This represents a reduction of just over half in the sale price, which means there would be more flexibility to spend the difference elsewhere.

Heating and cooling costs are also worth considering. Southern California Edison (SCE) will increase rates by about 10% starting in October 2025, raising the average bill for a household using 500 kilowatt-hours from $171.17 to $193.23. Additionally, SoCalGas heating costs, which were $65 last winter, are projected to rise to around $160 this winter. The larger the single-family home with a spacious yard and indoor area, the more significant this increase will be.

If you move to a condo or townhome, you will pay HOA fees instead of yard maintenance costs. HOA fees are monthly payments made in exchange for landscaping, common area maintenance, and exterior upkeep. In the Orange County area, basic condos and townhomes range from $150 to $400 per month, while mid-range communities with amenities like pools or clubhouses charge between $300 and $600 per month. When comparing the costs of hiring a landscaping company with HOA fees, the difference may not be as significant as expected, and the scope of management may even be broader, so it's essential to check community specifics.

If you want to reduce property tax burdens, consider looking into Proposition 19, which homeowners over 55 can utilize. This allows you to transfer the low assessed value of your current home to another property within California, and you can use it up to three times in your lifetime. California property tax is generally 1% of the assessed value, but with local bonds and special assessments, it often calculates to between 1.1% and 1.3%.

For those moving to Burbank from another state, it's advisable to calculate not just property taxes but also heating and cooling costs and insurance. People coming from states with lower property taxes are often surprised by California's rates, and if you plan to live there long-term, understanding Proposition 19 and future limits on assessed value increases can be beneficial. For those newly settling from Korea, it's important to note that unlike renting, landscaping maintenance is entirely the homeowner's responsibility in a single-family home.

Here's a summary of the characteristics of different housing types:

  • Single-family home - Ample yard and space, but consistent monthly maintenance costs for landscaping, heating, and cooling.
  • Townhome - Reduced yard maintenance burden and lower sale prices, but new HOA fees apply.
  • Condo - Easiest to manage with lower initial purchase costs, but must adhere to shared space regulations.
  • Active senior (55+) community - Strong points include neighbors of the same age and convenient facilities, but age restrictions should be checked in advance.

By simply listing the monthly costs of yard maintenance alongside HOA fees, you can get a clearer idea of which option fits your lifestyle better. This article is not investment or legal advice, and it's recommended to consult a real estate professional before any transactions or applying for Proposition 19.