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Old 08-26-2020, 10:07 AM
 
31 posts, read 74,127 times
Reputation: 21

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My husband got a new job over that way but every nice neighborhood has an HOA and mello Roos. People who live in Chino, Eastvale or somewhere adjacent, knowing what you know now would you still buy your home even though you have all of those extra fees? It seems like there is no opting out of having some sort of an HOA in the nicer areas (unless it’s a 5 bedroom house and it’s just my husband and I). It does seem very nice and peaceful over there. I’m just looking for opinions. Thanks!
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Old 08-26-2020, 01:44 PM
 
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I think it it's worth it. HOA is pretty reasonable around $180/month for me, many other areas that are relatively new are way higher, esp in Orange County. The mello roos is everywhere in SoCal, but because the property costs are lower (thanks to lower property prices) it's more bearable. Keep in mind the mello roos is fixed so whil property values around here will rocket higher in the future, the overall tax rate including mello roos will actually go down.
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Old 08-26-2020, 03:42 PM
 
31 posts, read 74,127 times
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Thank you ) As of now we have a condo in LA county and our HOA is way higher so 180 is not bad lol I know every neighborhood is different but do you mind telling me what your HOA includes? Just so I have some sort of idea. Thanks again!!
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Old 08-26-2020, 07:20 PM
 
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Our HOA includes front yard landscaping and clubhouse access. The clubhouse has a gym, hot tub, pool, tennis court, basketball court, game room, event room, etc.
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Old 08-30-2020, 10:54 PM
 
Location: Inland Empire
104 posts, read 213,802 times
Reputation: 59
Hi there.i live in a community with an HOA and mello Roos.

Make sure you’re comparing HOA prices to similar age homes as well as SFR vs condo. Usually older condo communities have higher HOA’s because of repair costs. Condo will always have a higher HOA because of insurance. SFR will be lower because you insure your own home and maintain your own yard.

That being said, I’m going to base my example on SFR. The range in HOA for a SFR in the area that I have seen are from about $80 to $165. The lower HOA’s usually maintain landscaping around the community and maybe a park. Higher HOA, usually over $120, will have a pool, clubhouse, and possibly a gym. I think the $80 HOA for landscaping is dumb because the maintenance is the same as a non HOA community which is paid for by the city, usually through a small property tax. In my opinion the city takes better care of landscaping than HOA’s do. Now if this were a condo, you would pay the $80-165 HOA, plus the condo HOA. Which could be about $150 or more for the insurance and landscaping.

Mello Roos is meant to pay for infrastructure like streets, sewer, etc. it also pays for schools and fire stations. It used to be that these taxes had a sunset date, meaning a date that the tax ends. However, most new construction communities now don’t have a sunset date. I’m not sure why, I think it’s because the city/county wants to continuously generate money for financial sustainability. Mello Roos can actually increase. You have to check the paper work, but there’s a certain percentage that it can increase every year. I believe it’s about 2%. It’s not 2% of your home value, it’s 2% of what the total mello Roos tax is. So if your mello Roos is $3k a year, it can go up $60 a year.

Now, I pay for both. Do I think it’s worth it? No. There are plenty of neighborhoods that have zero HOA and do not have mello Roos that are nicer than communities that do. New communities need mello Roos to pay for all the infrastructure. HOA is usually there because of the pools and amenities that builders put in to make the community more attractive. HOA’s are beneficial in making the community more uniform because of restrictions though in my opinion.

The reason I believe it is not worth it is because in a investment perspective, if you were to invest the extra amount you pay in HOA and taxes in a ETF or something, you’d make more return on that than you would in the value of your home hypothetically. Also, people may say home prices are lower in the IE so it outweighs the cost of the extras. However, wear and tear on your car if you have a long commute outweighs that.

With all that being said... I love my house and my community. I plan to purchase my next home in the same community/city and I want to buy new construction again. So I’ll have HOA and mello Roos. Emotionally I want that. However, my long term financial brain side says I should move to a community without HOA or mello Roos. You can find this in Eastvale and chino, you just have to search smarter and you’ll most likely be in a home that’s 15-20 years old.

I hope this helps! If you have any more questions feel free to message me.
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Old 08-30-2020, 11:44 PM
 
Location: Kaliforneea
2,518 posts, read 2,056,349 times
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Not Chino/Eastvale, but I looked at new construction in 2019 nearby which had a $360/mo HOA and I walked out of the sales office. $4320/yr is like 'another property tax' and as far as I know, you dont get to deduct HOA fees from your income taxes IF it's your primary residence. You DO get to deduct if you rent it out as income property. But ask you real estate agent or tax advisor for the definitive word.
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Old 09-03-2020, 02:48 PM
 
31 posts, read 74,127 times
Reputation: 21
Quote:
Originally Posted by KimVanderwood View Post
Hi there.i live in a community with an HOA and mello Roos.

Make sure you’re comparing HOA prices to similar age homes as well as SFR vs condo. Usually older condo communities have higher HOA’s because of repair costs. Condo will always have a higher HOA because of insurance. SFR will be lower because you insure your own home and maintain your own yard.

That being said, I’m going to base my example on SFR. The range in HOA for a SFR in the area that I have seen are from about $80 to $165. The lower HOA’s usually maintain landscaping around the community and maybe a park. Higher HOA, usually over $120, will have a pool, clubhouse, and possibly a gym. I think the $80 HOA for landscaping is dumb because the maintenance is the same as a non HOA community which is paid for by the city, usually through a small property tax. In my opinion the city takes better care of landscaping than HOA’s do. Now if this were a condo, you would pay the $80-165 HOA, plus the condo HOA. Which could be about $150 or more for the insurance and landscaping.

Mello Roos is meant to pay for infrastructure like streets, sewer, etc. it also pays for schools and fire stations. It used to be that these taxes had a sunset date, meaning a date that the tax ends. However, most new construction communities now don’t have a sunset date. I’m not sure why, I think it’s because the city/county wants to continuously generate money for financial sustainability. Mello Roos can actually increase. You have to check the paper work, but there’s a certain percentage that it can increase every year. I believe it’s about 2%. It’s not 2% of your home value, it’s 2% of what the total mello Roos tax is. So if your mello Roos is $3k a year, it can go up $60 a year.

Now, I pay for both. Do I think it’s worth it? No. There are plenty of neighborhoods that have zero HOA and do not have mello Roos that are nicer than communities that do. New communities need mello Roos to pay for all the infrastructure. HOA is usually there because of the pools and amenities that builders put in to make the community more attractive. HOA’s are beneficial in making the community more uniform because of restrictions though in my opinion.

The reason I believe it is not worth it is because in a investment perspective, if you were to invest the extra amount you pay in HOA and taxes in a ETF or something, you’d make more return on that than you would in the value of your home hypothetically. Also, people may say home prices are lower in the IE so it outweighs the cost of the extras. However, wear and tear on your car if you have a long commute outweighs that.

With all that being said... I love my house and my community. I plan to purchase my next home in the same community/city and I want to buy new construction again. So I’ll have HOA and mello Roos. Emotionally I want that. However, my long term financial brain side says I should move to a community without HOA or mello Roos. You can find this in Eastvale and chino, you just have to search smarter and you’ll most likely be in a home that’s 15-20 years old.

I hope this helps! If you have any more questions feel free to message me.
Wow, thank you so much for taking the time to write this. It was very helpful So much to think about lol As of right now I'm thinking my husband and I will try to buy a 3 bedroom home in Eastvale that is a few years older bc most of those houses do not have HOA's just the Mello Roos. I'm not positive but it seems like all of Eastvale is a nice/safe place to live where as Chino and Ontario may not be so nice once you leave the developments that have the HOA and mello roos. There has been some reasonably priced 3 bedrooms listed lately in the low 500s in Eastvale but they go really fast! I cannot seem to find anything on the percentage of Mello Roos there though! Their property tax rate is also high. In chino the mello roos seem to depend on what neighborhood and square footage your house is (if I am reading their site correctly). We will probably change our minds again! I am not opposed to having a small HOA depending on what it includes but I'm banking that even those small HOA's will be big HOAs in a few years

My husband's new job is in Chino and I work from home so we got lucky in that aspect. Our cars should last awhile lol

Last edited by Housecurious; 09-03-2020 at 02:56 PM..
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Old 09-05-2020, 03:57 PM
 
Location: Sandy Eggo's North County
10,300 posts, read 6,822,244 times
Reputation: 16852
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Last edited by NORTY FLATZ; 09-05-2020 at 04:19 PM..
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