“quarter million” is not a particularly useful metric. You are paying a quarter million more today, and you’ll get that quarter million back later when you sell. You need to do the cost-benefit analysis properly.
In favor of 4S:
– interest and property taxes on 240K price difference, less taxes: ~$700/month
In favor of CV:
– Lower Mello-Roos: $300/month
– Lower heating and cooling costs: I’ll guess $100/month
– Lower gasoline expenses: 20 gallons/month = ~$60/month, assuming that the job is somewhere in Sorrento Valley or UTC; times two if it’s a double-income family
– Shorter commute (at least 30 min./day)
– Cooler summers and warmer winters
It seems to me, if your income is high enough that you can comfortably afford CV, there’s no good reason not to pay additional $240/month (or even less) to improve your quality of life.[/quote]
#1, you may not get that difference back. you are looking at 4S at significantly depressed price point when Carmel Valley is still without significant drop. historically the Carmel Valley/RB difference for a similar home was only $100k in CV’s favor prior to the bubble. that price differential will eventually be restored.
#2, CV is cold, in the morning year round, and really not much warmer compared to 4S/RB. so I would question cheaper heating. definately on the cooler summers that’s for sure. I would say at best $50/month in CV’s favor.
#3, 4S is just 7 miles inland, roundtrip we are looking at 14 miles daily if someone works at UTC/serranto valley. 20 work days = 280 miles, say an average car at 25 mpg, that’ works out to 11 extra gallons, or $33 in CV’s favor.
#4, as much as the official word is the mello roos is not deductible, people do deduct it, 33% off the difference.
$700 – $283 = $417
that’s a car payment. and you get to live in a bigger house with a bigger yard.[/quote]
#2 – I have to disagree. Most of 4s is an oven in the summer. No breeze whatsoever. I rented a single family, one AC unit 2005 built home for the past three years and my cooling bill monthly in summer breached 200 and was close to 300. In the evenings the house was still pushing 78 at 9pm at night. Numerous coworkers who came over couldnt believe the outside difference in temp. You could be right on the price difference depending upon the efficiency of the homes.
#3 – the western edge of 4s is 12 miles to el camino real/56 exit (if you took the shortest route through CV). 13 miles from the coast.
