[quote=asterix007]Dear folks,
I’ve an opportunity to buy a house in 4s ranch. Here are the details:
Single family over 3800 sq ft at 225$/sq ft. Beautiful neighborhood, we love the house. It however has a high Mello Roos, around 6000$/year.
Questions to the community:
1) Is 225$/sq ft a good price to buy in today’s market?
2) In good financial situation, can afford the house. Will be financially tight for a few years, mainly concerned about the downside and high Mello Roos. 6000/yr == 60K in 10 yrs, that is a chunk of money..
Very conflicted.. Can someone provide some guidance.[/quote]
bottom line is the MR payoff is essentially $60k. that’s why I said if staying 10+ years, paying off the MR is a no brainer
the house is $855k based on your numbers above. So the question to you is, if the house cost $915k, is that a good deal to you.
