[quote=familyguy]This, (to pay MR or not to pay MR) like so many arguments, will never be settled.
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I just don’t see why this is so controversial. When someone buys a home, they simply figure the MR payment into their monthly housing cost. just like all other recurring monthly payments like HOA and property tax.
let’s take this South-of-Pomerado 4300 sqft home on 12k lot. http://www.sdlookup.com/MLS-100049824-10819_Figtree_Ct_San_Diego_CA_92131
asking is $1.4 million, with HOA of $76 per month. With 20% down, that works out to $5600/month of mortgage, and $1240/month of HOA and tax. For total of $6840/month.
meanwhile, compare to this Stonebridge 4700 sqft home on 12k lot. http://www.sdlookup.com/MLS-110019729-11364_Caspian_Pl_San_Diego_CA_92131
asking is $1.08 million, with HOA of $160 and MR of $440 per month. With 20% down, that works out to $4300/month of mortgage and $1500/month of HOA and tax and MR. For total of $5800/month.
for a newer and slightly larger home, despite the MR, the monthly housing cost is actually $1000 less. (actually $1200 less per month if we apply the same down payment of $280k to the Stonebridge home).
