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Old 08-12-2018, 11:58 AM
 
Location: on the wind
23,250 posts, read 18,764,714 times
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Quote:
Originally Posted by vietlam View Post
Thanks for the info! We were worried about construction standards, etc. (Lead paint, abestos,...) But It does not sound like there is anything specific to the area we should pay attention to for house age. Will ask the agent for house specific.
Lead paint use was banned in the late 1970s. So was asbestos; at least the easily airborne types used in insulation and fireproofing. Asbestos in solid forms (like tile) isn't an issue unless you are cutting, pulverizing or shredding it.
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Old 08-12-2018, 11:39 PM
 
Location: NNV
3,433 posts, read 3,746,637 times
Reputation: 6733
A major advantage to buying an older home is lower property taxes. Nearly all (maybe all?) new homes charge Mello-Roos taxes. It's a special assessment to pay for new infrastructure. For a $1M house, the taxes can be $6,000 per year or much more for 20 or 25 years!!!

When looking at homes ask how much the property taxes cost. Compare the taxes for new homes and old homes. You may be shocked...
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Old 08-23-2018, 08:40 PM
 
18 posts, read 17,317 times
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Quote:
Originally Posted by Vic Romano View Post
A major advantage to buying an older home is lower property taxes. Nearly all (maybe all?) new homes charge Mello-Roos taxes. It's a special assessment to pay for new infrastructure. For a $1M house, the taxes can be $6,000 per year or much more for 20 or 25 years!!!

When looking at homes ask how much the property taxes cost. Compare the taxes for new homes and old homes. You may be shocked...
Thanks for the tip! Will definitely keep this in mind.
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Old 08-24-2018, 08:48 AM
 
18,172 posts, read 16,384,702 times
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Quote:
Originally Posted by vietlam View Post
Thanks for the tip! Will definitely keep this in mind.
Most older homes will also not have an HOA which saves you a nice chunk of money.
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Old 08-24-2018, 10:00 AM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,134,777 times
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Quote:
Originally Posted by expatCA View Post
Most older homes will also not have an HOA which saves you a nice chunk of money.
Except that areas with no HOAs tend to have other problems which tend to make their property values a little lower. HOAs have many positives, with aesthetics being on top.
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Old 08-24-2018, 12:23 PM
 
18,172 posts, read 16,384,702 times
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Quote:
Originally Posted by LuvSouthOC View Post
Except that areas with no HOAs tend to have other problems which tend to make their property values a little lower. HOAs have many positives, with aesthetics being on top.
You mean like road repairs the county/city covers unless in a HOA then YOU pay for it through the HOA as a special assessment. Oh and CA allows the HOA fee to go up 20% a year and no the non HOA owner does not see his taxes go up that amount at all. Yes they mow the lawn and similar, but major costs show up all the time because the HOA pays for every one of them.
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Old 08-24-2018, 03:00 PM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,134,777 times
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Quote:
Originally Posted by expatCA View Post
You mean like road repairs the county/city covers unless in a HOA then YOU pay for it through the HOA as a special assessment. Oh and CA allows the HOA fee to go up 20% a year and no the non HOA owner does not see his taxes go up that amount at all. Yes they mow the lawn and similar, but major costs show up all the time because the HOA pays for every one of them.
My HOA is well worth the money but note that we do not have community assets.
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Old 08-24-2018, 03:19 PM
 
18,172 posts, read 16,384,702 times
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Quote:
Originally Posted by LuvSouthOC View Post
My HOA is well worth the money but note that we do not have community assets.
In some places it is worth it, in others it isn't. That is why they must consider it before buying.
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