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>> 3. Higher property taxes >Yes, this is a bitch in CA...see next point. Property taxes in CA are extremely low. https://en.wikipedia.org/wiki/California_Pr

• mbesto 9y ago
  That's not the parent's point. If I buy a $1M home in CA 10 years ago and I pay 1% in taxes then and the house is worth $2M 10 years later, I don't get charged 1% of $2M after 10 years. I get charged a marginal increase ever year and this increase isn't based on market norms (I forget what the actual # is, but it would be like paying 1% of $1.25M). This means, if I sell my $2M house after 10 years), and buy another $2M house next door, my taxes are way higher in my second home due to prop 13.
  • shostack 9y ago
    Depending on your age, you may be able to not get dinged with the new home's taxed value.[1] [1] http://www.boe.ca.gov/proptaxes/faqs/propositions60_90.htm http://www.boe.ca.gov/proptaxes/faqs/propositions60_90.htm