Go back to previous topic
Forum nameGeneral Discussion
Topic subject^^This for several reasons
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=13275765&mesg_id=13276960
13276960, ^^This for several reasons
Posted by handle, Mon Jul-30-18 02:23 PM
Right now I could sell the condo and net, in pocket like $280k.
I bought the hosue for $200k and that's what it's assessed value is by the county, which has a 1.16967% property tax rate. So yearly it's approximately $2300.

Let's say the mortgage on the house is $950 a month. (with existing rate.)
The property tax per month is approximately:$191.
HOA of $260.
Total: $1401

To buy an okay (not remodeled not not a "fixer") house in San Diego it would be TODAY around $625,000. Example house: https://www.zillow.com/homedetails/6543-Carthage-St-San-Diego-CA-92120/17194204_zpid/?fullpage=true

So if you applied ALL the proceeds from you sale you'd owe $345k.
With rates as they are today it's be mortgage: $1741

The property tax per month is approximately:$550.

So your new price is $2291 (excluding water and garbage - which add around $175.)

To me, moving into an "okay" house but paying $1000 more a month is not appealing. (Well since my condo is PAID it's not appealing at all.)