Tagged : Northwood Irvine Homes

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There are a lot of new construction homes being built right now in Irvine, California that offer the latest modern finishes and style.  A lot of people gravitate to these types of properties since they have never been lived in and are located on a new community with lots of amenities for residents to use.  Many buyers get excited about these new homes until they break down the costs to live there.  On top of paying a monthly mortgage (if not all cash) you will have monthly homeowners association dues and an additional tax that is referred to as Mello Roos.  

What exactly is Mello Roos?  It's best explained from the builders point of view.  When a builder is building a new community and doesn't want to pay for the sidewalks, streets, parks, etc they can

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The city of Irvine has many neighborhoods to choose from with many of these communities having monthly association dues and a Mello Roos tax attached to them.  This is a big factor when considering purchasing a home as these fee's are on top of a monthly mortgage payment, annual taxes and insurance.  Smart buyers look at what each community has to offer in relationship to the amount of monthly fee's they will charge.  New construction homes are notorious for having an added Mello Roos tax in addition to association fee's which can make buying a home very expensive.  For example, a $1 million dollar home may have a monthly association dues of $500 a month plus a Mello Roos tax which could average around $300 a month as well.  So that is $800 that is to be

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