The True Cost of Buying a Home in Brentwood: What Buyers Need to Know

Brentwood’s tree-lined streets, elegant homes, and neighborhood charm have made it one of the Westside’s most coveted addresses. But when it comes to buying here, the listing price only tells part of the story. For anyone considering buying a home in Brentwood, a clear understanding of the total cost—before, during, and after closing—is key to avoiding surprises and making confident decisions.

Brentwood’s appeal goes far beyond its architecture. The neighborhood offers an unmatched blend of residential tranquility and convenience; it’s close to Santa Monica beaches, minutes from Century City, and home to top-rated schools and boutique shopping. This combination draws everyone from entertainment executives to young families, creating steady demand and stable property values.

That demand, however, comes at a price. While the median sale price here is already higher than the LA average, buyers quickly learn that the purchase price is just one piece of the puzzle.

When most people picture buying a home in Brentwood, they think about saving for a down payment and securing financing. But in practice, the process involves a series of other costs that can add up, depending on the property.

In Brentwood, where home prices typically start in the millions, closing costs take on a different scale. Typically ranging from 2% to 5% of the purchase price, these expenses cover all of the legal, administrative, and lender-related steps that finalize the transaction. This includes paying escrow fees for the third-party managing the sale, buying title insurance to protect your ownership, covering lender fees for things like loan origination, underwriting, and appraisals, and paying the recording and transfer fees required by the city and state.

On a $3 million Brentwood property, it’s not uncommon for closing costs to total between $60,000 and $150,000. Savvy buyers plan for these expenses alongside their down payment, ensuring they’re financially prepared to close without stress.

Property taxes in Los Angeles County are calculated at roughly 1.25% of the home’s assessed value, which translates to about $37,500 annually for a $3 million home. While special neighborhood improvement assessments are rare in Brentwood compared to newer developments, they do exist and can add to your annual obligation.

Since property taxes are collected in two installments, many homeowners choose to budget monthly for them to avoid large, unexpected bills. Understanding the property’s exact tax history before you buy can help you project these costs accurately.

Homeowners insurance protects your property against risks such as fire, theft, and liability, but in Brentwood, the cost can vary widely depending on the home’s location, size, and features. Properties near the hills may require additional fire coverage due to California’s wildfire risk, and while worth it, that extra protection can add a notable amount to the annual premium.

High-value homes also tend to have higher premiums simply because the cost to rebuild is greater. The best approach is to request insurance quotes while you’re still in escrow so you have a clear picture of the coverage you’ll need and the cost before closing.

Owning a home in Brentwood means maintaining it to a standard that matches the neighborhood’s prestige. That includes regular landscaping to preserve curb appeal, proactive care for systems like plumbing and roofing, and interior updates that keep the home competitive in resale value.

A good rule of thumb is to set aside 1% to 3% of the home’s value annually for maintenance, so $30,000 to $90,000 per year for a $3 million property. This ensures you can address both routine upkeep and unexpected repairs without disrupting your budget.

Brentwood’s larger homes and manicured outdoor spaces naturally bring higher utility costs. Water usage can be substantial for properties with expansive lawns or gardens, and electricity bills rise with the demands of cooling and heating larger square footage.

Many residents also choose to invest in private security monitoring or patrol services for added peace of mind. While these costs vary, they should be factored into the overall picture of ownership so they don’t come as a surprise after move-in.

For buyers financing their purchase, the interest rate you lock in has a large impact in a high-value market like Brentwood. Even a slight change in percentage points can mean a significant difference in monthly payments.

Securing strong pre-approval before you shop clarifies your purchasing power and allows you to lock in competitive terms quickly when you find the right property. For those putting less than 20% down, private mortgage insurance (PMI) may apply until enough equity is built, which is an additional monthly cost worth considering when structuring your offer.

The most successful Brentwood buyers share a few habits: they get pre-approved early, they budget beyond the purchase price, and they partner with a local expert to guide them through the process. They also understand that in this market, preparation isn’t just about money; it’s about being informed.

When you know exactly what to expect, you can move quickly on the right home without second-guessing whether it fits your financial comfort zone. And in a neighborhood as competitive as Brentwood, that confidence can make all the difference.

Buying a home in Brentwood is a significant investment, and it pays to have the right advocate in your corner. Mary Lu Tuthill combines decades of local expertise with a tailored, client-focused approach, ensuring every buyer understands the full scope of their investment, from the initial search to the day they move in.

Whether you’re drawn to a quiet hillside retreat or a walkable property near San Vicente, Mary Lu will guide you through the numbers, the neighborhoods, and the nuances that make Brentwood unique. Reach out today to begin your search with confidence.