Thanks SD. You reiterated many of my points of reasoning and the unknowns to consider. The big unknown is whether newer homes in Carlsbad will drop down into my price range. My price range does allow for the purchase of an older single family home right now but if I waited I might be able to purchase a new home where less upgrades/refurbishing is required. I too have some qualities that will determine my purchases and, like you, no MR and low HOAs are huge considerations (older homes).
MR is the biggest farce! Sorry to get on my soap box about this but I recently found out what they are. Correct me if I am wrong but they last for 30 years, should have been paid by the developers, and were a means for the city to lure developers to their area. Was any luring needed during the booming housing market recently? I don’t get what the city was thinking. Why not make the developers pay the fees instead of strapping the citizens with them for 30 years… no mello roos for me!
You might be familiar with the Mystic Point development in Carlsbad. They are condos built at the height and virtually all buyers are upside down, if they have not foreclosed or had to short sale already. The HOAs are around 200/month and some of the MR fees are about the same. That 400/per month cost will not cease for thirty years and the HOA fees will probably increase. Who is willing to take that on for a condo so close to other units you can hear your neighbor’s toilet flush?
