[quote=ocrenter][quote=sdrealtor]CAR
Quick questions for ya. You said MR, HOA and property taxes were $900. How much were the property taxes of that $900? My guess would be $700ish? If so, is it really $200 (or whatever) of MR and HOA that is holding you back?[/quote]
CAR, would love to see a link of this house in question.[/quote]
Note: I calculate property taxes as 1.25% of purchase price because of the additional fees and bonds that are not included in the 1% calculation, and also because taxes usually go up 2% each year. IMHO, it should probably be calculated a bit higher, but it gives me a good idea at 1.25%. While the property tax is deductible, that amount is usually offset by maintenance costs, so I don’t deduct the tax savings.
Price @ $569,900 X 1.25% for property taxes is $7,123.75/12 = $593.64
HOA: $98
Mello-Roos: $222
Total fixed monthly outlay (could go up) is $913.64
