[quote=AN][quote=CA renter]I don’t follow rentals in that particular area, but would guess that it would not rent for that much. Maybe $2,400-$2,600????
Got the $775 from the $9,300 you posted earlier. Per my calculations, the fixed monthly outlay would still be around $900, even with your numbers.
-Property tax, including Mello-Roos: $720
-HOA (will likely go up over time) $98
-Insurance: $100
Total: $918/month
Too much $$$$$$, especially if the house is paid off![/quote]
Wow, that’s pretty cheap rent for 3100+ sq-ft house. $775 tax was based on assessed value of $633k.
$918/month can’t even get you a 1/1 in decent area of San Diego. So, why do you think $918 is too much? How much do you think is reasonable?[/quote]
You can’t compare these fixed monthly costs with rents because you have to figure the $570,000 cash into the equation (or more, if you get a mortgage and have to pay interest and fees on top of that).
IMHO, for a retired couple in our income/retirement situation, the max they should be paying for housing costs is around $500/month…preferably less.
