final 3?

[villiagepeople]

with san mateo coming out and jumping into the fray of the battle between mid 500k detached condos, i thought i'd do a little analyis based on the monthy "nut" since san mateo is priced higher but has only 1 hoa... the PITI below is based on a fixed down payment across all three (so i'm not using a percentage) and a 30yr fixed @4.75%... it does account for tax deductions for the first year divided by 12 (@25%) but leaves in the principle, i am not calculating "rental parity" here... rental parity would be about $400 less per month over the first year as you'd take out the principle... but then you have to get into the whole thing with loss of possible investment income, we won't get into that here...

these are all 3/2.5 detached condos with little yard and laid out in a courtyard... the features inside are also similar, granite, stainless steel appliances, tankless water heater, island in kitchen... and all three have the same school assignments (they are listed in the order in which they were first made available)

1) primrose by kb home
portola south enclave
1739 sq ft.
(Pinciple, Interest, Taxes, Insurance, HOA) - tax deduction = $2500

2) sevilla by van daele homes
portola north enclave
1660 sq ft.
PITI - tax deduction = $2414

3) san mateo by irvine pacific
stonegate
1639 sq ft.
PITI - tax deduction = $2415

as you can see, the monthly is only $86 between the highest and lowest of the three models, so the only thing to left to consider is location and builder... am i missing anything?  which one would you guys choose?

 

[akim997]

i hate primrose.  the layouts and the look i felt was very poorly executed.

sevilla vs. san mateo depends...  it looks like you are only looking at the plan 1's for each of those enclaves.  since that's the case, i vote for san mateo, since i like the plan 1 layout better there. 

also, what's the differences in taxes and hoa across the various enclaves?

 

[villiagepeople]

also, what's the differences in taxes and hoa across the various enclaves?

1) primrose - 289 hoa, 4143 mello roos, 5564 base tax
2) sevilla - 244 hoa, 3726 mello roos, 5586 base tax
3) san mateo - 110 hoa, 3543 mello roos, 5869 base tax

the hoa is monthly and mello roos and tax are yearly... base tax rates are all 1.05%...

 

[kayochan]

Does anyone know how many years you have to pay the MRs for each?  (I always thought they run between 25-30 years but I remember on TI a mention about some having longer ones and overlapping MRs.)

 

[kayochan]

Does anyone know how many years you have to pay the MRs for each?  (I always thought they run between 25-30 years but I remember on TI a mention about some having longer ones and overlapping MRs.)

I asked the sales people at Sevilla and at San Mateo about the MR.  They said that one MR is about 30 years and the other MR is about 50 years (so I guess there are two MR's for each neighborhood).