Is it better to buy a sub-$550,000 house in RSM or Lake Forest? (Irvine: renter)

[CmpEngineer]

Is it better to buy a sub-$550,000 house in Rancho Santa Margarita or Lake Forest? What are the pros and cons of each city?

The good thing about Lake Forest is it is close to Irvine (where the jobs are). Will it be easier to get a renter for a house in Lake Forest than in Rancho Santa Margarita (RSM seems to be far away from job centers like Irvine)? I noticed the Lake Forest homes have no association fee or mello roos. Is this a good thing?

[Lardog]

CMP....Lake Forrest is closer to just about everything in OC but is an older area. I would say the avg home in LF is probably 20-25 years old and about 10-15 in RSM. RSM is a very nice area, kind of up in the hills, lots of wide laned roads, newer schools, etc., but it is quite a bit further inland (thus a bit hotter in summer).

If you're looking for a place to raise kids, I'd say RSM...if you want something a bit less expensive and more convenient to stuff, LF would probably be a better choice.

[kturbe]

It really depends on the area, but a couple of things. Tax rate in RSM is generally around 1.4-1.8% with mello roos and assocation. Lake Forest for the most part is 1% with no mello roos but those are older homes. There are two communities in LF that are newer Portola Hills and Foothill Ranch that are nice. The drive between the two is maybe 15 minutes from the furtherest points so I don't think distance is a real issue. Plenty of people live in RSM and commute to Irvine, etc. RSM is considered a younger family area and the high school choice is a little better, Capo, Mission Viejo or Tesoro.
You could also check out Mission Viejo....
Should you need any other details please do not hesitate to contact me direct.

[CLQ]

We are looking in these areas too. Here are my observations:

RSM cons - further out, need to use the toll road, smaller houses
RSM pros - the beach club and other parks and pools are nice

LF cons - older homes, not a master planned community like RSM
LF pros - a slightly easier commute - not much, bike paths, parks.

Both have a similar feel. I like Mission Viejo too.