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- This topic has 21 replies, 11 voices, and was last updated 17 years, 3 months ago by an.
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January 4, 2007 at 10:50 AM #42673January 4, 2007 at 11:05 AM #42676daney143Participant
Yeah, I usually figure in the property tax too. It’s more important, especially if you live in a Mello Roos area or an area with HOA. That could add an addtional $500 a month to your mortgage above the flat property tax.
January 4, 2007 at 3:22 PM #42712PerryChaseParticipantI just read that Grantville just to the West of Allied Gardens and Del Cerro will be redeveloped. An eastward expansion of Mission Valley, and another condo central?
http://voiceofsandiego.org/articles/2007/01/04/housing/949grantville.txt
January 5, 2007 at 8:45 AM #42752daney143ParticipantYeah, this condo villa will be a much needed expansion for San Diego State and their shortage of Student housing. Plus, it will cut back on the number of needed parking spaces because the students will be able to just on the Trolley there at Grantville. Finally some one is using thier brain and developing smart growth.
January 5, 2007 at 8:55 AM #42755PDParticipantIn addition to neglecting to add in taxes, many people do not calculate the opportunity cost of their downpayment. Since I would have to put down a bundle to buy where I live, it jacks the cost of ownership per month WAY up. In a market moving up, you don’t get hurt. However, in a downward or sideways market, you lose. Plus, you don’t to get write off the loss of potential earnings…
January 5, 2007 at 10:20 AM #42761CardiffBaseballParticipantI wasn’t criticizing you Concho, just making a general comment that people often drop off that part of the house payment. Thanks for calculating that in too. Still too rich for my blood.
January 5, 2007 at 10:37 AM #42763anParticipantPD, I agree with you completely. Opportunity cost is high when you put down 100k. That’s $433/month @ 5.2% interest you can get from GMAC saving account. That’s why I just compare 0% down with rent, removing the opportunity cost variable makes it easier to compare.
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