Hi, I enjoy your videos, and I live in Irvine, but you forgot two very beautiful communities on the 133 in Lake Forest, which is a Laguna Altura, where are used to live and then I moved across the street to hidden Canyon. 😀
Hello Sean & Courtney, Is Mellos-Roos always 20 yrs? So if I want to avoid that, should I only look for properties built before 2002 or earlier, is that correct?
Really? Why? At 400K, a mortgage that is 35% of your take home pay with 20% down, you would afford 1.2 million. That’s on the conservative side, as you can go above 35% take home pay since your income is so high. Maybe you can’t afford a larger property or more land, you mean? You should meet with a mortgage officer to run numbers for you. I have friends that make half what you make and live comfortably in OC, their houses are very nice but aren’t huge.
Well yea of course there are. Bc the VAST majority bought when rates were at 3 and housing pricing were much lower than they are today. Not many people are buying TODAY who make less than that. The math just doesn’t add up. Avg home is around 800-1mm (800 is generous). That’s 8k per month in mortgage costs. Literally almost half of my net income. So yes- a mortgage payment that’s 45% of my net income is more than I’m comfortable with. And I don’t have 500k cash for a DP. Lifestyle has little to do with it we’re actually quite modest
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Hi, I enjoy your videos, and I live in Irvine, but you forgot two very beautiful communities on the 133 in Lake Forest, which is a Laguna Altura, where are used to live and then I moved across the street to hidden Canyon. 😀
This is very helpful. Thank you!
Hello Sean & Courtney, Is Mellos-Roos always 20 yrs? So if I want to avoid that, should I only look for properties built before 2002 or earlier, is that correct?
Love this area but it's crazy to say...we make 400-500k and still don't think we could afford to move there! Wild
Really? Why? At 400K, a mortgage that is 35% of your take home pay with 20% down, you would afford 1.2 million. That’s on the conservative side, as you can go above 35% take home pay since your income is so high. Maybe you can’t afford a larger property or more land, you mean? You should meet with a mortgage officer to run numbers for you. I have friends that make half what you make and live comfortably in OC, their houses are very nice but aren’t huge.
Why? Cause your lifestyle and needs? Plenty of people live there with less than half of what you make.
Well yea of course there are. Bc the VAST majority bought when rates were at 3 and housing pricing were much lower than they are today. Not many people are buying TODAY who make less than that. The math just doesn’t add up. Avg home is around 800-1mm (800 is generous). That’s 8k per month in mortgage costs. Literally almost half of my net income. So yes- a mortgage payment that’s 45% of my net income is more than I’m comfortable with. And I don’t have 500k cash for a DP. Lifestyle has little to do with it we’re actually quite modest
Save a million drive to the beach! From Riverside or needles?