It depends. How much is your condo worth? How much is the new condo you are considering? What are your property taxes now? How much are your HOA dues now? How much are the HOA dues at the new place? Lastly, do you pay for parking now, and if so how much?
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.... more