The True Cost of Homeownership in Placer County
When buying a home, most people focus on the purchase price and mortgage payment—but there are additional costs that can significantly impact your monthly budget. Before making an offer, it’s important to research these key expenses so you’re not caught off guard after closing. Here’s what you need to know:
1. Property Taxes & Mello-Roos Assessments
In addition to base property taxes, some homes in Placer County have Mello-Roos assessments, which fund public infrastructure and services. These fees can add hundreds (or even thousands) of dollars annually to your tax bill.
How to research your property taxes:
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Use the Placer County Property Tax Search tool: Placer County Tax Lookup
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Ask your real estate agent for a copy of the most recent property tax bill.
How to check Mello-Roos expiration dates:
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Contact the local city or county tax office or the community services district for details on when Mello-Roos assessments end. You can also view this list and cross reference it to the tax code on the tax bill to find the direct contact for a particular bond.
2. Fire Insurance & High-Risk Zones
Fire insurance costs can vary widely depending on a home’s location. Some properties in high-risk zones may only qualify for coverage through the California FAIR Plan, which can be significantly more expensive than traditional insurance.
How to check if a home is in a fire hazard zone:
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Use Cal Fire’s Fire Hazard Severity Zones Map: Cal Fire Fire Hazard Map
Where to learn more about high-risk insurance options:
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Visit the California FAIR Plan website: California FAIR Plan
3. Utility Providers – PG&E vs. Roseville Electric
Electricity rates vary depending on whether your home is served by PG&E or Roseville Electric. Homes in Roseville generally benefit from lower electric rates, while PG&E-served homes may experience higher monthly costs.
Where to check utility rates:
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PG&E Rates: PG&E Rate Info
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Roseville Electric Rates: Roseville Electric
Key service areas:
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Roseville Electric: Serves most of Roseville and parts of Rocklin near the Roseville border.
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PG&E: Serves Auburn, Loomis, Lincoln, Granite Bay, and rural areas.
4. HOA Fees & Community Rules
The True Cost of Homeownership in Placer County
Many newer developments, gated communities, and condos have Homeowners Association (HOA) fees. These fees can range from a few hundred dollars per year to several hundred per month depending on the amenities and services provided.
How to check for HOA fees and rules:
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Ask the seller or real estate agent.
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Review the MLS listing for HOA details.
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Request a copy of the CC&Rs (Covenants, Conditions & Restrictions) from the HOA.
Final Thoughts: Be Prepared Before You Buy
Buying a home is an exciting milestone, but it’s important to factor in all costs to avoid surprises. Whether you’re looking for a home in Roseville, Rocklin, Lincoln, Loomis, Auburn, or Granite Bay, understanding these financial considerations will help you make a smarter investment.
Have questions about buying a home in Placer County? I’d love to help! Reach out anytime.
Posted by Patrick Hake on
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