Getting nervous!

NEW -> Contingent Buyer Assistance Program
Way to nitpick!
But, right-- i meant the total 1.5% rate that OH residents will pay (State, OC and SFD) is tough enough.
I dont know the rate when you subtract out the MR, but it still isn't pretty-- 1.2%?  1.3%?

Maybe the convenience is worth it for some.
I dont want to pay even 1% annually on upgrades.
 
O Hills said:
Way to nitpick!
But, right-- i meant the total 1.5% rate that OH residents will pay (State, OC and SFD) is tough enough.
I dont know the rate when you subtract out the MR, but it still isn't pretty-- 1.2%?  1.3%?

Maybe the convenience is worth it for some.
I dont want to pay even 1% annually on upgrades.
Click to expand...

Property tax for everyone is 1.05%...the rest is mello roos.
 
O Hills said:
Way to nitpick!
But, right-- i meant the total 1.5% rate that OH residents will pay (State, OC and SFD) is tough enough.
I dont know the rate when you subtract out the MR, but it still isn't pretty-- 1.2%?  1.3%?

Maybe the convenience is worth it for some.
I dont want to pay even 1% annually on upgrades.
Click to expand...

Oh come on, if you can afford to purchase a home in the gated portion of OH, you won't worry these small pocket changes.

When The New Home Co. was selling Lambert Ranch, the average upgrade their home buyers were spending was around $150,000.  I would expect even more for the gated portion of OH. 

If a home buyer spend $150k on the upgrades through the builder, and at 1.05% property tax rat, that's around $1500 per year extra in property tax and which is also tax deductible.  The amount is too negligible compare to the overall property tax, MR, HOA, and mortgage payments. 

Whether you do the up grades through the builder or through outside contractor after COE, don't let the potential  increase in property tax affect your decision.
 
Maybe we can afford it b/c we take things like this into consideration.

I hardly consider throwing $1,500 away ever year as negligible.

At any rate, it's something to consider.
I suppose whether it tips the scales one direction or the other is a personal thing. 
 
Just FYI, the Model homes at gated OH has $300k to $500k upgrades based on a brief chat with the Sales person.  Lavita plan 4 had $400,000+ in upgrades which would put it in low $2 millions.

These are Upscale homes.  Don't think about going really cheap.  You are getting a cardboard box with a plain vanilla stuff (i.e. cheap carpet, etc.).  If you are going to make these homes descently upscale/luxurious, you need to add atleast 10% of the base price which would be close to $150,000 with a reputable contractor.

 
Yes.
I'd do electrical, plumbing etc. through the builder.
Everything else-- after COE.

The price difference b/t builder vs. after COE for flooring alone can easily run tens of thousands.
Then throw an extra property taxes-- call it $1K to $1,500 on top every year.

It just makes sense to get as much done after COE as you can.
If you can live with the inconvenience of having contractors disrupting things for a while, you'll save quite a bit. 
 
WTTCMN said:
Goriot said:
Just FYI, the Model homes at gated OH has $300k to $500k upgrades based on a brief chat with the Sales person.  Lavita plan 4 had $400,000+ in upgrades which would put it in low $2 millions.

These are Upscale homes.  Don't think about going really cheap.  You are getting a cardboard box with a plain vanilla stuff (i.e. cheap carpet, etc.).  If you are going to make these homes descently upscale/luxurious, you need to add atleast 10% of the base price which would be close to $150,000 with a reputable contractor.
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I mean yes and no. Take Capella for example. It's basicAlly quinterra 2.0 a couple hundred thousand dollars more expensive. So for quinterra, the 10% math is $100,000 at the design center but for Capella, that math is now $140,000. Would you really spend 40k more upgrading the same home at the design center just bc the home is in orchard hills?

Also a lot of these model homes are way over the top. I mean u guess you can upgrade every single surface, wall, ceiling and floor like they do but u will never get all that back at resale. Upgrade strategically and do it with your family's needs in mind. Don't bother keeping up with the models.
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Agreed with your statement, but I am assuming a buyer at Grove OH will be more of an upscale buyer with higher tastes.  More budget conscious buyer would go to Portolo Springs (Quinterra).
 
Paris167 said:
WTTCMN said:
O Hills said:
Maybe we can afford it b/c we take things like this into consideration.

I hardly consider throwing $1,500 away ever year as negligible.

At any rate, it's something to consider.
I suppose whether it tips the scales one direction or the other is a personal thing. 
Click to expand...

Are you buying a Capella?  If so, then $150k in upgrades thru the builder is probably excessive. For that square footage, you probably spend $50-75k at the design center for modest upgrades (master bath, kitchen, Electrical, flooring, light secondary bath work).  So really it's an extra $500-750 per year but a lot of that is unavoidable as mentioned by gasman above. Unless you want your brand new house gutted by contractors the day after you get your keys to install electrical and other invasive things.
Click to expand...

Thanks for all the upgrade recommendations on here. I am making a list and thoroughly thinking things through prior to choosing my upgrades. But I have budgeted about $80k for upgrades in general.

We have 2 small kids so I do not want to live through a construction zone after I've moved in so planning on doing flooring, cabinets - anything where they'd need to bulldoze or break things apart. Superficial stuff like window coverings, epoxy garage, crown molding, paint I can do easily at a later time. 

My husband had the same concerns about property taxes going up with the upgrades. BUT 1) it's $700 extra in taxes per year. 2) In Irvine every few years your home gets reassessed. So it's not like you go 10-15 years paying the same taxes. They are smart - if your home appreciates you better bet they want to make your taxes appreciate as well.

So overall it made sense for us to go through builder for certain upgrades. 

BTW - apparently property taxes are not deductible once you've hit a certain income range per my husband - annoying  ::)
Click to expand...
Hey not everybody owns several businesses like you.  ;)
 
Paris167 said:
Living in Irvine you realize that you can't even see a trash can on the street or a power line anywhere close to your home (at least in north irvine). My husband had a huge issue with those large power lines that go through some of the south cities like Ladera
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Power lines are the first thing I see when I visit other cities.  I can't get over the dangers of those during Santa Ana winds or other bad weather.

It's nice to look up at a sky without seeing black lines with shoes or birds on top of them.

Also those Irvine trash cans are so elusive.  It's like a Where's Waldo hunt every time.  Except is Where's that Irvine trash can ...
 
qwerty said:
Paris - you should consider hiring TI's own consumer reports specialist, zerolot.
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I guess this is what happens when I read thru hundreds of TI reviews + Yelp reviews + Angie's List reviews + Consumer Reports reviews + various other Internet forums + talk to my Irvine neighbors. 

I need a vacation from the computer and Irvine.
 
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