I'm frustrated right now because we found a beautiful place, in a developing area, and it's in our price range. It's a 3-story 1 bedroom condo with a loft and a 2-car attached tandem garage. Pictures above are pictures of the actual complex. It's only 6 years old meaning we wouldn't have to do repairs and it comes with new appliances. It seems like a no brainer right? The BF and I are having a lot of disagreements with this place.
At this point I'm stressed out.
MY POINT OF VIEW
For one, I think it's an amazing deal. Other units in this complex and area go for well over $300,000. Yes there is Mello Roos but it is in an award-winning school district, and it's near huge companies such as Sony and HP. The area around it caters to the upper middle-class to upper-class folks since surrounding houses are in the million dollar range, and if rented, they rent out for over $5,000/mo.
For a $200,000 mortgage and 20% down, our monthly payment INCLUDING taxes, insurance, HOA and Mello Roos comes out to about $1700 with a 4% interest rate (just estimating everything here). If we rented this place out, we could possibly rent it for $1600 compared to other similar places in the complex and area. Paying an extra $100-$200 is nothing to me when it's for a place such as this. When Mello Roos is paid for (which could be 5-10 years, I need to check), HOA is only $160, possibly the cheapest I've seen ever around here.
BF'S POINT OF VIEW
He thinks that the Mello Roos is horrible at $177/month. The thing with Mello Roos is that it's a bond that is being paid off due to the development of the town. This area is a newer area, and it's still near freeways and shopping (walking distance to shopping in fact). He also thinks that since this will first and foremost be an investment property (we plan to move in once I'm finished with law school), he wants this place to be rented out for the actual monthly mortgage amount. He DOES NOT think that we can rent out this place for $1,700 which is sound and reasonable. Other 1-bedroom condos in the area rent for $1200-$1300. These are places that DO NOT have attached garages, 3 stories, and a loft. At the bare minimum, we could rent this place out for $1300 but BF does not think that's worth it. He wants to actually GAIN a profit each month.
After searching for places for almost a year, I can tell you that you can't have EVERYTHING YOU WANT. You have to compromise and it's going to be difficult but you need to have your priorities in order. Location is our #1 that's for sure and definitely price/rent. I think it's ridiculous that paying an extra $100-$200 a month is stopping BF from wanting to commit to this place, because it has everything we want. In the long-term, this place is ideal for us and the community and area is wonderful. We would not have to do repairs since it's only 6 years old.
So tell me.... what do you all think? Am I being unreasonable? Obviously this post is biased to my point of view but if you have any other questions I'd be glad to answer them. I want to know if I'm being unjustified here. I am tired of searching for places and compromising on every aspect. I finally find the place that I want to invest in and buy and now there are more hurdles. How do you work things out with your significant other when you TRULY believe in something?