Should i Rent my current home and buying a new home in San Diego

[Namal Burman]

Hello Friends,

I have a property in 92127 area (Del Sur) where i currently leave and its has Mello Roos (MR)and high HOA even though its a new construction. I was wondering to rent my current one out and buy another one near 92131(Scripps Ranch) where there is no Mello Roos and low HOA. Reason being i can put 20% down and get current lower interest rate for the new one under 4% and not pay Mello Roos and low HOA. The only issue would be that to buy 2000sq feet house in scripps ranch would be around $1million and i have to put 20% down and hope i can rent out my current property that would cover the current mortgage and MR+HOA which i think it would as the location i am in is really good.

Any suggestions.

namal