Better Location for Resale in Irvine

[momopi]

If space aliens came to visit our planet, they would be perplexed at the weekly ritual of killing grass with a mowing machine.  The value of a yard and lawn is quite subjective.

I like to garden, though not nearly as hardcore as the Dervaes family in Pasadena.  Had to move out of Irvine to afford cul-de-sac SFR with yard.  I have 3 raised planters for herbs, 1 long trellis (used to have 3) for passion fruit & cucumber, and 5 fruit trees in the back yard.  If my city allowed it I would have a couple hens.  It's extremely relaxing to watch cucumber grow on the vine, then chopping them into cucumber sandwiches with cream cheese and mayonnaise.

I have started converting small parts of the front yard to dry scape with lavender and drip system.  Will work on succulents next.

 

[irvinehomeowner]

I didn't mention SG...we were talking about yards.

I missed this in all the lifeless equestrian bashing.

I didn?t mention paying more, getting more house, walkable elementary, or nearby pocket parks yet you had to bring them up to rationalize a smaller yard.

We were just talking yard... bigger or smaller. Yet you keep sidestepping with ?all things aren?t equal?. I think you work in a law related occupation, I hope that?s not how you argue.

No...I said that there are different priorities for different people.  It has nothing to do with SG or PP.  It has to do with the relative value of a yard.  I personally don't see much value in a yard and so I would not want to pay for it. 

I don't keep sidestepping the "all things are equal" argument.  The question is what I would rather pay for.  Yard is low on the list.  If "all things were equal"...I would buy the house that is bigger with a smaller yard than a smaller house with a bigger yard.

IHO...I have a question.  What exactly are you trying to convince me?  What point do you think I am missing? 

That more land is valuable. You say you don't use it and it cost more to maintain and blah blah blah but everyone is trying to tell you it's not the value of a "yard" it's the value of more space on your property.

They've even mentioned future resale where most people will value a bigger yard than a smaller one. Of all the people I've seen post here on TI, you are probably one of the few who says a smaller yard is better.

And then you try to rationalize with how busy you are and how a nearby park is better but then when countered, you dance and say "Well, I don't use the barbecue that much anyways"... so then why even mention "I don't have to clean a barbecue" if you rarely use it? It's so comical... that's why BTB dropped all those "excuses" just to illustrate that.

I don't keep sidestepping the "all things are equal" argument.  The question is what I would rather pay for.  Yard is low on the list.  If "all things were equal"...I would buy the house that is bigger with a smaller yard than a smaller house with a bigger yard.

You are sidestepping because that wasn't the question.

If the location/price was equal, would you buy the same size house with a smaller yard or a bigger yard? The house size is the **SAME**... it's only the yard (and thus lot) that is bigger.

Dance away.

EXCEPT PRICE WILL NOT BE THE SAME!  A large lot means higher price! 

My point is that I have find little value in a yard so I don't want to pay for it!  I rather pay for something else!  You guys mentioned a number of things why you like your yard and I am saying that I don't do those things therefore the value of a yard is lower for me.  Add on the landscaping and maintenance costs, the value of a yard is not very high for me at all.

There you go again bringing up price, your personal value of a yard, landscaping costs, etc etc. Do us a favor and pretend it doesn't cost more... bigger or smaller yard?

And I do remember several cases in new home hoods where the same floorplan had a larger lot for the same price... those were the ones that always went first... so it's not impossible... even a 300sft lot size difference is noticeable when you only have a 3000sft lot in Irvine (and FYI, for many "detached" products in Irvine, there is no lot size).

Here... maybe this will make you feel better.

If someone asked me if there were two homes, same exact floorplan, but one had a 3CWG and the other had a 2CWG and the one with the 2CWG had a bigger yard (and a bigger lot), but they cost the same... which one would I buy?

 

[Burn That Belly]

x

 

[Liar Loan]

EXCEPT PRICE WILL NOT BE THE SAME!  A large lot means higher price! 

Sounds like we agree then.  All else being equal, a larger lot size is worth more, making it the better long term investment.

 

[fortune11]

My simple rule of thumb is ?- is supply for the particular item under consideration going to be higher or lower in the future , compared to its general baseline demand .

Larger lots are increasingly scarce in Irvine . Uniqueness of product may matter more than personal preferences which can change over time

 

[paydawg]

EXCEPT PRICE WILL NOT BE THE SAME!  A large lot means higher price! 

Sounds like we agree then.  All else being equal, a larger lot size is worth more, making it the better long term investment.

I'd be surprised if anybody didn't believe a larger piece of land is worth more than a smaller piece of land.  That's not the issue though. 

If you have 2 homes priced exactly the same and in the same neighborhood, would you choose the small home with a larger backyard or a larger home with a smaller backyard. 

There are people (me included) who would rather have the bigger home with a smaller backyard.  These Irvine homes are already small and the space inside my home is valuable.  I use it 24 hours a day/365 days a year.  I can't say the same about my backyard. 

 

[Irvinecommuter]

EXCEPT PRICE WILL NOT BE THE SAME!  A large lot means higher price! 

Sounds like we agree then.  All else being equal, a larger lot size is worth more, making it the better long term investment.

I'd be surprised if anybody didn't believe a larger piece of land is worth more than a smaller piece of land.  That's not the issue though. 

If you have 2 homes priced exactly the same and in the same neighborhood, would you choose the small home with a larger backyard or a larger home with a smaller backyard. 

There are people (me included) who would rather have the bigger home with a smaller backyard.  These Irvine homes are already small and the space inside my home is valuable.  I use it 24 hours a day/365 days a year.  I can't say the same about my backyard.

Exactly!  It is about priorities and value. 

 

[Irvinecommuter]

It?s just an odd preference. Almost everyone else wished they had a larger yard, one of the more common complaints in buying in Irvine.  And we?re not talking acres or horse ranch, just more setback that people are forced to buy these days.

It?s like you prefer tandem garage, or 3 story, or no driveway, etc, and the reasons why come straight out of a builders marketing brochure

It's not that I "prefer" a small yard...it's that I prefer to spend my money on other things for the house, like more living space.

 

[Irvinecommuter]

There you go again bringing up price, your personal value of a yard, landscaping costs, etc etc. Do us a favor and pretend it doesn't cost more... bigger or smaller yard?

And I do remember several cases in new home hoods where the same floorplan had a larger lot for the same price... those were the ones that always went first... so it's not impossible... even a 300sft lot size difference is noticeable when you only have a 3000sft lot in Irvine (and FYI, for many "detached" products in Irvine, there is no lot size).

Here... maybe this will make you feel better.

If someone asked me if there were two homes, same exact floorplan, but one had a 3CWG and the other had a 2CWG and the one with the 2CWG had a bigger yard (and a bigger lot), but they cost the same... which one would I buy?

Why would I not care about the price?  That's a top 3 consideration for buying a property.  I have never seen a situation where the same floorplan had a large lot and the price was the same.  There is always a lot premium. 

And what would the answer to your question be?

 

[Burn That Belly]

x

 

[Irvinecommuter]

Add on the landscaping and maintenance costs, the value of a yard is not very high for me at all.

Dude. I have a yard with 20+ hedge trees and the rest of the surface is all pavers. I bought a $20 hedge shear and I only go out there once every 2 months for 20 minutes to trim and shape them. That's about it!!  What "maintenance cost" are you referring to, I'm not sure because there is none. I think we spend more time folding laundry. 

Also, the irrigation is on a drip/spray system that is wifi and app controlled so there is zero maintenance on that end. It's on a scheduled app timer.

Landscaping cost is a one-time fee that is RECOVERED and then some when you sell the home. It is an appreciating asset.

What if you had the choice between 150 sq ft of additional enclosed space versus 300 additional square ft of yard?  Which would you pick?  Assuming all other things were equal.

 

[Irvinecommuter]

My priorities are to

1) not live in Irvine and pay $500+sq/ft like the rest of the idiots on here (let alone hoa and mello roos)

2) not have kids because kids are monay, costing over $300k to nurture to 18 years old, not including college costs

3) not buy a car because cars are not only money pits but depreciate every single second you own it.

4) not watch tv because tv is a waste of time and everything is all make-believe

5) not eat red meat because red meat is not only expensive it's cancer-causing


Oh you can say my priorities are more meaningful and impactful than yours Irvinecommuter ;D

1)  And a lot of people (like Panda) chose not to live in Irvine or even California

2)  A lot people don't have children

3)  Car is a necessary tool for 95% of the population.  You can however break even on your investment by buying versus leasing....but plenty of people lease while plenty of others buy.

4)  A lot of people do not watch TV.

5)  A lot vegetarians as well.

Question is then...are any or all of these choices "wrong" or "excuses"?

 

[Burn That Belly]

x

 

[Irvinecommuter]

Add on the landscaping and maintenance costs, the value of a yard is not very high for me at all.

Dude. I have a yard with 20+ hedge trees and the rest of the surface is all pavers. I bought a $20 hedge shear and I only go out there once every 2 months for 20 minutes to trim and shape them. That's about it!!  What "maintenance cost" are you referring to, I'm not sure because there is none. I think we spend more time folding laundry. 

Also, the irrigation is on a drip/spray system that is wifi and app controlled so there is zero maintenance on that end. It's on a scheduled app timer.

Landscaping cost is a one-time fee that is RECOVERED and then some when you sell the home. It is an appreciating asset.

What if you had the choice between 150 sq ft of additional enclosed space versus 300 additional square ft of yard?  Which would you pick?  Assuming all other things were equal.

The answer depends on how and where that 150 sqft of expansion is located. If it's spread among multiple rooms making rooms bigger or if its just an expansion of one particular room such as dining room or living room. If it's the former, I'd say it's not worth it. If it's to expand a room such as the living room, I would do it.

For example, OH3's plans are mostly recycled EW plans but has increased interior square footage. This is distributed among the multiple rooms so it feels bigger, but probably not ginormously so.

Point being that the answer of bigger yard vs smaller yard is that not simple.    Multiple factors and considerations go into buying one home versus another.  Priorities are set and one chooses accordingly.

 

[Burn That Belly]

x

 

[Mety]

As you grow older and the life changes, there comes different priority lists. It does seem that many young people or couples do not care about having a yard because it seems wasteful and most likely ends up spending more money, but as their life style changes, their perspective will change. They may never want a yard, then that's their choice.

 

[Mety]

I thought the discussion was about yard vs. no yard. How did it go from that to bigger or smaller yard???

Bottom line is a yard is better than no yard. Hands down. It adds value to the home. One way or another. All things being equal.

This is why Delano (attached product) in EW are giving you very nice yards. It seriously helps sell when they're asking exorbitant prices there. Then you look at 'Avalon' in EW and it has like no yard and those they can only get $500-600K for.

BTW, for the price of Delano,
Plan 1 - $748K to $751K
Plan 2 - $901K to $911K
Plan 3 - $955K to $963K

 

[eyephone]

I think it?s a tossup yard vs no yard.

You should be more concerned if you live right next to the 5 fwy if you ask me. 

 

[Irvinecommuter]

I thought the discussion was about yard vs. no yard. How did it go from that to bigger or smaller yard???

Bottom line is a yard is better than no yard. Hands down. It adds value to the home. One way or another. All things being equal.

This is why Delano (attached product) in EW are giving you very nice yards. It seriously helps sell when they're asking exorbitant prices there. Then you look at 'Avalon' in EW and it has like no yard and those they can only get $500-600K for.

Again..."all things" are not equal.  A property with a yard will cost more than a similar one with a smaller yard.  The question is whether one elects to pay the premium for the larger yard (or lot) or not.  You can pay for the lot premium or take the premium and buy another house with a smaller yard but more interior living space.

Avalon are also all 2 bd/2 bath and at 1,500 square feet or lower and with tandem garages.  I believe they are also categorized as "flats"  They started in phase I at low $500K. 

While Delano is 3-4 bedrooms and 1500 to 1900 square feet are technically attached condos with 2 car garages.  Delano also came latter in the development stage so its prices were higher.  It started at 700 to 800K. 

Petaluma was a detached condo that started in the first phase of development.  It's started at high 700K and sold out at high-$900K.  You are not telling me that Delano cost more because of its "yards"

Finally, Delano is attached with 3 units...Avalon is attached with 6 units.

 

[Irvinecommuter]

As you grow older and the life changes, there comes different priority lists. It does seem that many young people or couples do not care about having a yard because it seems wasteful and most likely ends up spending more money, but as their life style changes, their perspective will change. They may never want a yard, then that's their choice.

That is very true as well.  Plenty of young people and couples enjoy living in urban setting where one has no yard and limited living space in return for access to nightlife/activities in an urban environment.  As they get older and have children, such a setting may no longer be attractive.

But again, their choice to live in an urban environment is not an "excuse"...it's a preference.  There are plenty of people who think that living in suburbs is boring and dumb.