What Is Staying in Your Home Really Costing You?

Let’s compare like with like: a $1.5M single-family home in Contra Costa County against a comparably priced residence at The Nova. To keep it honest, we’ll assume both homes are owned outright (no mortgage), so we’re looking purely at the cost of carrying each one year to year. Every figure below is an illustrative estimate with assumptions footnoted, your numbers will vary, and your CPA is the final word.

Here’s what it typically costs to carry each home for a year. Notice where the money goes and what you get for it.

Here’s where the math gets interesting. Many longtime owners assume that selling and moving will reset their property taxes to today’s market value, a powerful reason to stay put. For age-qualified 55+ buyers, Proposition 19 changes that entirely.

Under Prop 19, a homeowner who is 55 or older can transfer the low, factored Prop 13 base value of their primary residence to a replacement home of equal or lesser value, up to three times, anywhere in California. In practice, that means the tax advantage you’ve built up over decades moves with you to The Nova.

A quick illustration

A new buyer purchasing a $1.5M home would be assessed at full market value, roughly $18,750 a year in property tax at an illustrative 1.25% rate. A longtime owner moving to The Nova under Prop 19 keeps their existing base, closer to $6,250 a year. That’s about $12,500 saved every year, simply for understanding the rule.

Prop 19 has specific requirements and timing rules, and the exact benefit depends on your factored base year value. Confirm the details with the Contra Costa County Assessor and your tax advisor, but for many of our buyers, this single provision reframes the entire decision.

Ask any homeowner what their house really costs and they’ll forget half of it. A widely used rule of thumb budgets 1–2% of a home’s value for maintenance and repairs each year, on a $1.5M home, that’s $15,000 to $30,000 annually. Some years it’s gutters and paint; other years it’s a $25,000 roof, a failing HVAC system, or a surprise plumbing bill. It rarely stops.

At The Nova, exterior and structural maintenance is handled entirely by the association, and the amenities and grounds are professionally managed. Your costs become predictable, your weekends become yours, and the big-ticket surprises stop landing on your kitchen table. That’s the quiet luxury of a lock and leave home.

Some benefits don’t fit neatly in a spreadsheet. As a lock and leave community, The Nova lets you travel for a weekend or a season and simply… go. No house-sitter, no piling mail, no worrying whether the sprinklers failed or a pipe burst while you were away. Lock the door, and leave with peace of mind.

There’s a future-proofing dividend, too. With medical offices, pharmacies, churches, dining, and trails all walkable from The Nova’s downtown location, daily life stays simple and independent for years to come, a kind of security that’s hard to price but easy to appreciate.

For many of our buyers, the financial upside goes beyond carrying costs. A large share come from homes worth $2–$4 million in Danville, Alamo, Walnut Creek, and Lamorinda. Right-sizing to a residence at The Nova can free a significant amount of equity, capital that no longer sits locked in a house that needs painting. That equity can be redeployed into investments, travel, or family, while relocation services make the move itself seamless.

It’s the rare decision that improves your lifestyle and your balance sheet at the same time. Eliminate the property taxes and upkeep of a larger home, simplify your life, and put your equity to work, all without leaving the town you love.

Owning a beautiful home in Contra Costa County is a privilege and a recurring expense that rarely gets fully tallied. When you add up property tax, maintenance, landscaping, insurance, utilities, and the hours you spend managing it all, the cost of staying put is higher than it looks. The Nova offers a clearer path: predictable costs, Prop 19 tax advantages, no exterior upkeep, and the freedom to live on your terms, in the heart of the #1 safest city in California.

Run the Numbers on Your Own Home

We’ll prepare a personalized, side-by-side comparison of what your current home costs versus life at The Nova, no obligation, just clarity. Request your financial comparison, or contact the sales team to schedule a private tour and see the residences for yourself. The Nova is now selling, and only 50 homes will ever exist.