I myself live in average HOA area in Irvine, personally if I could afford it I will be somewhere better, we all have different priorities.
Another thought, when you have an option to spare some spendings ... do it for the needy, help some one go thru school, or med treatment ... help someone than paying the dues of a Land developer.
Human beings are same in EVERY $$ class, good and little less good.
Feel free to call Deepak Chauhan 949 748-9834 Office and Redsidence in Irvine.
It depends on what you like and what you need. For instance, all of Ladera Ranch has Mello-Roos tax on it and many people just LOVE Ladera Ranch. It's newer and has all the bells and whistles that many buyers want. But there are some lovely areas of Mission Viejo which are also beautifully maintained, have great schools and easy access to parks and sports parks.
You live in Irvine? There is no Mello-Roos there at all and clearly it's a very desirable area.
When I start working with a buyer, we talk about these things. Adding a Mello-Roos tax will lower the purchase price of the home they can qualify for....so we need to talk about that. We certainly can start by looking at homes which do not have Mello-Roos and see if those communities interest you.
The history of Mello-Roos is that when builders create new developments, they normally pay a lump sum (passed onto the buyer) for infrastructure. Mello-Roos was an alternative to that payment...It reduced the original cost of the new home. So we all pay for the infrastructure one way or the other. Some cities didn't allow it....such as Laguna Niguel and so there is no Mello-Roos tax there.
Hope this helps?
If you find a home you like, and it has Mello Roos fees, consider if those fees are worth the home you want to buy. They are not of themselves good or bad. They are. And remember they are fees not taxes. You may or may not be able to deduct them from taxes, ask an accountant familiar with your specific information.
Good luck on your home search.
Advantages of homes with Mello-Roos tax:
â€¢ New parks, recreation centers, etc., can be built using funds generated from Mello-Roos
â€¢ More housing inventory will be created when undeveloped locations are built up.
Disadvantages of homes with Mello-Roos:
â€¢ It may limit the amount of prospective buyers when it comes time to reselling the house. (not everyone can afford the extra payment)
â€¢ Maintaining the "improvements" could be more costly and perhaps increase the Mello-Roos.
â€¢ Owners of homes with Mello-Roos tax have an extra payment
Hope this helps! If you are not working with an agent at this time, feel free to call me. I'd be happy to help!
Louri Groves, Realtor
Prudential Califorina Realty
I think the question if it worth, is only about what is worth and matters to you. If Mello Ross payment would not worth to anyone, the homes in Mello Ross areas would have been left vacant! People want the live style, better and newer community, schools, etc... I personaly don't like to pay for Mello Ross unless it's reasonable. Some communities in Irvine has low/reasonable mello ross. You might want check those out. Once you found a house you like, find out how many more years left of the Mello Ross payment? Again, worth/value of anything depends only to personal preferences.
It is really a matter of preference. What is important for you may not be important for someone else. Neighborhood, schools, amenities, architecture,urban planning, life style, may all be reasons why some buyers don't mind paying Mello Roos. If everyone did not want to pay Mello Roos then a lot of areas in Irvine would still be vacant, (which we know is not the case).
Irvine with or without Mello Roos will always be a good market for real estate.
Keller Williams Elite Realty
You ask it it is worth it. Sometimes, you can't avoid it if you want to buy a newer home. The key question to ask is this, "When will the Mello Roos be finished?" They typically exist for 20-40 years and you can determine how much longer you have to pay on them based on when the house was built.
Good luck in your home search. If you need anything, let me know.
Prudential CA Realty
That really depends...if the home with Mello Roos has features that are important to you, then it is a lifestyle preference. Just like a choice to get a Honda Accord or Mercedes, no wrong choice. For example, if the school district or community or amenities or location or the newer year built of the homes are important to you, then it may be worth it paying for those features. However, if these items are not very important to you, you might want to consider older homes that does not have the Mello Roos.
In addition, some of the newer homes may have very competitve prices as older homes. The benefit is newer homes will have years of enjoyment without having to repair major items. Whereas older homes may need to start doing some repairs annually.
I specialize in Irvine, if you are considering Woodbury Community or Portola Springs, call me, there's quite a bit of things to consider. (949) 385-1588
In certain areas, Mello-Roos can increase your property taxes to as much as 2%, so you should investigate carefully before making a commitment
I personally don't like the Mello Roos taxes. If you want a new home then they are a tough pill to swallow, especially for the first time home buyer. But my colleages below are correct in saying that it's up to you to decide if Mello Roos taxes are something you will consider when looking for a home to buy. If you don't want to pay them then you will need to buy a home that's not brand new. To see everything available in Orange County go to our website http://www.bcre.com. If you want to know what the Mello Roos taxes are for any property in Orange County go to the Orange County Tax Assessors website. http://egov.ocgov.com/ocgov/Assessor%20-%20Webster%20Guillory
I hope you found this useful!
Thanks, Scott Bingham - Beach Cities Real Estate
If you would like to accurately estimate your mello-roos/property tax for an individual property the process for doing so is detailed here: http://www.trulia.com/blog/steve_ornellas_mba_re_mastersgri/
Mello Roos for any given area, if that's the area you want to live in is just unavoidable. You just need to factor it in as another payment. House payment, property tax, homeowner's insurance, homeowners association fee & that lovely Mello Roos tax.
So long as you're getting a good deal on the purchase price of the house compared to current comps, you'd got a good deal!
Lately I've been helping a lot of owners in Chino, they have a Mello Roos tax in the community that makes the total property related taxes about 1.8-2% per year, yet I still have a waiting list of buyers wanting in!
If you have any other questions or would like to search around in the MLS just like I do, you can go to my website link below. You could choose to search around in Irvine & specifically choose, in your search that there be NO Mello Roos tax & then switch it back to Mello Roos being OK, then decide if those are the areas you'd consider buying in.
Realtor Since 1996