With these numbers you can calculate your monthly savings, and then see how long it will take before that savings pays for your transaction costs. Most likely it will take a number of years before this move pays.... but it all depends on your particular situation.
Also, while the agent from Ocean City doesn't realize we have almost year-round air conditioning in San Francisco, she has a point that sometimes your PG&E bill can vary greatly from one place to the next. For example, if your HOA's include heat, or if one of the two places isn't well insulated, and the other place is. Or you face south now and have double paned windows so your place is always warm, but move to a north facing unit with single paned windows. These kinds of costs can add up.
Property taxes are another tricky one - if you purchased long ago you may discover your new taxes are significantly higher. But if you purchase in 2004 or 2005 you might find your new taxes are low (since they will be based on your new purchase price.)
Lots to consider, so you should contact a local agent to get help crunching the numbers.
Honey Brooks, Realtor/Consultant
San Francisco Homes of Distinction
International Luxury Property Specialist
S.R.E.S (Senior Real Estate Specialist)
W.C.R (Women's Council of Realtors, Former S.F. President)
"Your Personal Business is My Confidentiality"
You will ultimately recoup the greater expense for a unit with parking when you or your heirs sell it. You are entitled to see a copy of the financials for your HOA. Are they using the HOA fees responsibly? Remember older facilities require greater fees to maintain a building in decline. Newer construction is the best choice if you have that option.
Are you referring to Opera Plaza? Deeded parking is also the best as well as buying into a well established HOA with lower dues, provided that the reserves are adequate. HOA dues usually only go up over time (there may be some exceptions to that but they're genenrally rare).
I'd be happy to talk to you more about specifically what work work for you as a trade up property and help you analyze your options.
Feel free to call or email andwe can set up a time
Thanks in advance.
Rich Bennett, Realtor
Zephyr Real Estate