If the market takes a few years to bottom out it’s not a problem for me since I’m self-employed and flexible on when I move.
I have read the raptorduck posts and found them extremely helpful.
You nailed a question on my mind; do kids in gated neighborhoods ever actually hang out in the community centers? I’ve never lived in a “full amenity” gated community so I have no idea whether any of these luxuriously equipped community centers actually attract teenagers (at least during the daytime). If not, it reduces the appeal of a gated community for me, since I am not overly concerned about my house being robbed in a quality community. Still, I like the idea of my kids being bit safer when they are out and about (inside the community gates) and it would be great if they were close enough to able to walk or ride their bikes to their friend’s houses.
As far as HOA and Mello Roos, I think it’s a negative, but not necessarily a showstopper. I would amortize these expenses into the total purchase price over an anticipated hold period. If I have to pay an extra 70,000 spread out over 10 years it’s roughly equivalent to an additional $40K up front, or a couple of percent tacked onto the purchase price. I would simply factor in the extra $40K and see if the price still makes sense. For me, I’m hoping this will be the last home I own before retiring so I would be definitely concerned on how many years a Mello Roos assessment continued.
I prefer new construction to old, but as long as the quality and floor plan of an older home is comparable, and priced to reflect any shortcomings, I’m pretty neutral. I don’t want a fixer upper, but I am not to opposed to a home that needs a cosmetic makeover.
Glad you suggested Fairbanks Ranch since I find it very desirable. One thing I do not like is the desert/arid landscape. I like lots of trees and lush landscaping and an area that’s virtually frost free. I think Fairbanks Ranch meets these criteria.
