To calculate the cost of purchasing a second-hand home in San Francisco, consider the following components: purchase price, closing costs (2-5% of the sale price), property taxes (0.75-1.25% annually), home insurance ($1,500-$3,000/year), and potential repair/maintenance expenses (1-3% of the home’s value yearly). Additional fees may include transfer taxes (1.825% of the sale price), Mello-Roos assessments (0.5-1.5% of the purchase price), and HOA fees ($500-$1,500/month if applicable).

San Francisco’s high property taxes are based on the assessed value, which is 60% of the purchase price, leading to annual taxes of $11,250–$31,250 for a $1.5–$2.5 million home. Closing costs, averaging $30,000–$125,000, cover fees like title insurance, appraisal, and escrow services. The city’s transfer tax, one of the highest in the U.S., adds 1.825% to the sale price, contributing significantly to total expenses. Mello-Roos taxes, levied for infrastructure projects in specific neighborhoods, can amount to $7,500–$37,500 depending on the area. Home insurance costs reflect SF’s earthquake risks and older housing stock, while HOA fees apply to many properties for amenities like security and maintenance. Repair budgets should account for SF’s median home age of 70 years, with deferred maintenance common in older homes. Data from the San Francisco Association of Realtors (2023) shows the median second-hand home price at $1.75 million, with buyers spending an average of 30% of their income on mortgage payments and taxes. These factors, combined with limited inventory and strict lending standards, make purchasing a second-hand home in SF financially intensive but feasible for well-prepared buyers.