Great Park District 1 West - Novel Park

NEW -> Contingent Buyer Assistance Program
2% a year increase isn't the end of the world.  Sure, nobody likes paying more over time but say you buy a house here and your MR is $5K annually. 
Year 1: $5K
Year 2: $5,100
Year 3: $5,202
Year 4: $5,306
Year 5: $5,412

So, after 5 years you're paying $34 more per month than you did when you bought the house.  OK, not preferred but if this is really going to be a problem for you then you shouldn't be buying a home here in the first place.
 
aquabliss said:
2% a year increase isn't the end of the world.  Sure, nobody likes paying more over time but say you buy a house here and your MR is $5K annually. 
Year 1: $5K
Year 2: $5,100
Year 3: $5,202
Year 4: $5,306
Year 5: $5,412

So, after 5 years you're paying $34 more per month than you did when you bought the house.  OK, not preferred but if this is really going to be a problem for you then you shouldn't be buying a home here in the first place.
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I was only curious if they had 2% increase like other GP homes. I guess I will have to go check out myself.

 
aquabliss said:
2% a year increase isn't the end of the world.  Sure, nobody likes paying more over time but say you buy a house here and your MR is $5K annually. 
Year 1: $5K
Year 2: $5,100
Year 3: $5,202
Year 4: $5,306
Year 5: $5,412

So, after 5 years you're paying $34 more per month than you did when you bought the house.  OK, not preferred but if this is really going to be a problem for you then you shouldn't be buying a home here in the first place.
Click to expand...

The problem is that the 2% keeps compounding, so while 2% doesn't sound like a lot, over the years it really adds up.

In your example, by year 10 the MR will be $6,000, a 20% increase from baseline.
 
Just calculated my MR will hit $10k in 2040, probably something to think about.  At that time will anyone want to pay $10k MR on a nearly 30yr old house.  Could affect property values down the road. 
 
aquabliss said:
Just calculated my MR will hit $10k in 2040, probably something to think about.  At that time will anyone want to pay $10k MR on a nearly 30yr old house.  Could affect property values down the road.
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Yes, it will sell because everything around you will rise accordingly, concurrent to your increase . As a matter of facts the cost newer homes for property tax is at 1.8 % - 2.0%. Remember in the early year 2000 when I bought my first house, I thought 3K tax was outrageous. Well, fast forward 20 years later, it increased to 7K and I still own this house and thinking I would never sell it because of the low, low tax base.

Our perception of money change over time as the dollars decrease in values. The house and taxes is more expensive because our dollars lost its purchase of power over time.

This is the one way our uncle Sam's can stay abreast of the massive debts it has been taking on, more so than ever under the TRUMP plans to enrich the rich. Our society will have a massive unbalance of the haves and have not in the making.
 
Spoke to a sale's rep, there's going to be a 7 day a week coffee shop opened in Novel Park on Beacon Park boulevard on the other side of the Ridge Valley round about.
 
gpquest said:
I like Novel Park for its close proximity to the Woodbury Town Center.
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It's definitely walkable to Woodbury Town Center but don't buy anything right next to Irvine Blvd as that is a very busy street.
 
Oh man, I would never take my family walking over the 133 on Irvine Blvd.  I see people do it and think they're a bit crazy. Feels like you're going for a stroll on the freeway with a sidewalk.
 
aquabliss said:
Oh man, I would never take my family walking over the 133 on Irvine Blvd.  I see people do it and think they're a bit crazy. Feels like you're going for a stroll on the freeway with a sidewalk.
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It's not the same as taking a walk from Cypress Village to the Dennys south of the 5 on Sand Canyon, now that would be crazy.  haha  The 133 on/off ramps at Irvine Blvd just don't see the same kind of traffic that the 5 or 405 see because it's a toll road.
 
The city recently posted the pedestrian bridge (Novel Park to Woodbury East) as a capital improvement project on their new proposed budget.

A new pedestrian bridge would definitely make it easier to walk to the Woodbury Center from Novel Park.

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