New Home Purchase: Zinnia vs. Luna

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IrvineWindowShopper

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I am on a pretty quick timeline to move and was hoping to get some of your all opinions. Every on TI seems like they always have really good information/views on the housing market so I would love to hear some opinions.

I am currently looking at Zinnia plan 3 and recently was told by a friend to look at plan 2 for Luna because it is also priced in my range. Luna plan 1 is also in my price range but the 3 stories seem like too many stairs. I am looking for a place in the high 500k and unfortunately have no more room to go higher. This is definitely not my forever home so resale and value is important, but I would also like to enjoy my time there as well.

Zinnia has the middle and elementary school close by which is a plus. Of course, proximity to the freeway is a concern and the noise is apparent. It is behind the Caserta extension so there is so buffer and its really not that loud compared to Acacia. It is also centrally located which is nice, so my commute to work would be very short and access to shopping centers/entertainment is a big plus.

Luna on the other hand is DETACHED! Which is fantastic and would be a great asset when thinking about long-term value. I am personally not a huge fan of Portola springs due to where I am in my life right now, if I were purchasing a true SFH instead of a dethatched condo, the areas more open landscape would be appealing. Right now, it is more remote and does not have a really central feel. That could change with the development of the Great Park, but even then I don?t know.

I am really not sure on the ?courtyard? home setup up that luna offers. I am still yet to go look there but I did visit Jade Court and everything looked very dark, being that all the units are interior facing. I really do prefer to have street access to my residence and never really like walking through a long path or courtyard to get to my front door. I know parking is an issue, but is light an also another major concern? I was wondering if anyone had any experience with these types of homes and have input.

I am so sorry for the rant! All this has just been so overwhelming!
 
I was looking in west Irvine and I found a couple nice options. But inventory is limited for the range I am searching. But you are completely right about the lower HOA and mello roos, gives you much more purchasing power. I am definitely keeping my options open and hopefully can get to check out some of those places as well!
 
I've looked into West Irvine and most realtors will recommend looking elsewhere.  It lacks amenities and character, and is generally considered to be a lower appreciation area of Irvine.  Of course there will be exceptions, so if bang-for-your-buck is what you're looking for, then West Irvine might work for you.  If parks, pools, trails, etc. are important to you, then you will have to sacrifice a bit.
 
I'm looking on Redfin right now and I see a few homes around 570-590k.  1500 sqft, around $270 HOA and the MR is like $1000 a year.  The school district is Tustin but I think it's the good part of Tustin that feeds into Beckman. 

Don't limit yourself into new, there are other costs of buying new like upgrades, landscape and other costs.  Buying resale may also bring unexpected costs but I dont think as much as new build.

good luck!
 
I think I was looking at the exact place you were looking at in WI. The area is nice and but I'm big fan of the Tustin area. But I definitely agree about all the upgrade costs for new builds! They are crooks, it's crazy!

Thank you for all the feedback btw!

I wish I had more time because a good resale would probably be the best option. But I heard back from Luna and they just informed me that plan 2 is sold out so I only have plan 1 option.

So in regards to new builds, it's plan 3 at zinnia for around 580-590k or plan 1 at Luna for 570k.
 
IrvineWindowShopper said:
So in regards to new builds, it's plan 3 at zinnia for around 580-590k or plan 1 at Luna for 570k.
Click to expand...

does that pricing include approximate amount you would spend to finish patio and upgrades? 
 
IrvineWindowShopper said:
I think I was looking at the exact place you were looking at in WI. The area is nice and but I'm big fan of the Tustin area. But I definitely agree about all the upgrade costs for new builds! They are crooks, it's crazy!

Thank you for all the feedback btw!

I wish I had more time because a good resale would probably be the best option. But I heard back from Luna and they just informed me that plan 2 is sold out so I only have plan 1 option.

So in regards to new builds, it's plan 3 at zinnia for around 580-590k or plan 1 at Luna for 570k.
Click to expand...

No problem I wish you luck!
 
are you going to be a financed buyer? rates are getting worse now, so you may not have the time to wait and find a good resale, nor you can wait for your new home to be built.
 
Personally I would look really hard at VoC.  Something like thishttps://www.redfin.com/CA/Tustin/1451-Montgomery-St-92782/home/63008759

Substantially larger and with that area getting developed out, will be in a very central and cool location.  This sounds like a starter home and something you want for a few years before moving up.  I would pick an area that has some good potential to go up in value and I really think VoC will do well.  Now if you have kids and elementary school is critical, that will change the search. 

What are the must haves??
 
So in regards to new builds, it's plan 3 at zinnia for around 580-590k or plan 1 at Luna for 570k.
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That's a tough choice because personally I would much rather be anywhere but in Cypress Village, but the Zinnia floor plan is pretty nice.  I went to CV in person yesterday and saw the Jade and Jasmine and was very unimpressed.  Zinnia looks nice (on paper).  Portola Springs is a better area in my opinion, but can you deal with all those stairs? 

Buying under pressure is no fun, I hope you find something you like.  I just sold my Northwood condo after 12+ years of living there, and am renting until I see something I want.  Will not look anywhere outside 92620 unless it's near trails in Tustin Ranch.

Good luck!
 
My friend lives in CV, and he told me he has to deal with train noise as well on top of freeway. That is a huge draw back of CV , specially very close proximity to freeway and train.

Portola Springs is nice. Luna is very close to million dollar homes ( Lambert Ranch, Quintera, great park etc), so cant say its location is that bad.

We are also looking at that area, and did a quick test other day, it take less than 8 minutes to get to 5 freeway from far end of PS.

Good luck and wish u all the best.

 
Once again, you all are great! Thank you!

Schools are important for me given thats probably part of the equation soon, specifically the elementary school. But again thats not a deal breaker if its not there or anything. I am fortunate to be in the situation were I do not have many MUST haves.

I wish I was quicker and jumped on that Luna plan 2 earlier. They had a couple that were already built out with included upgrades for a good price. Now they are only left with a few plan 1's left, which also have upgrades included for 570k. The Zinnia option would need at least 5k in upgrades so its pushing 590k!

I of course prefer the detached, but the Zinnia model would only have one neighbor/connecting wall. My concerns are mostly about the 3 story nature of the luna model, it looks like these never sell as well based on my obsessive online window house shopping (its been a problem for years). Then my last reservation is in regards to Portola springs, I feel like it is bound to get better because /sqf these places do not nearly fetch the same prices as elsewhere (including CV).

But to be honest, OC_relocation has a great point (thank you btw) and location is not a big draw back. I am more worried about the 3 story floor plan.
 
I personally think Portola Springs will definitely increase in price and at a higher rate compared to CV. Given the fact that freeway is an issue at CV, the appreciation I feel is pretty limited. Once the great park is built out, PS will begin to demand more of a premium price IMO.

But in regards to your decision, it seems like you prefer Luna because of price and (potential) location, but its that 3 story layout your not sure about.

To be honest, I am not sure how these 3 story layouts hold value and if that would make it less desirable than a more typical/family conducive floor plan in a attached/higher density setup.

Great thing about TI is that you have a good amount of real estate experts/connoisseurs here that can hopefully enlighten you about the value of the 3 story set up and how it compares to an attached product elsewhere.

Good luck in your search!
 
Funny how freeway is always an issue for CV but not Quail Hill or Laguna Altura.  Have you looked at their appreciation rates?  The first five rules of real estate are:

1) location
2) location
3) location
4) location
5) location

Freeway plays an imprtant role in that rule, I'll let you figure out how.
 
I completely agree about location being paramount. But when in comes to location I feel both have positives and negatives.

CV: Centrally located and quick access to basically EVERYTHING. But you can hear the freeway noise because how it sits in relation to the freeway. I would say that the noise is not as noticeable from quail hill or laguna altura compared to CV.

PS: More tranquil and quiet environment but a bit further out compared to CV (entertainment and shopping centers). They are building the high school close by which could be a plus and minus I guess, because it is fairly close.

I have been looking at appreciation rate, but I do not have a fancy way of doing it precisely. I would assume portola springs had more of a jump in price while CV commanded more from the start. What do you see in the future of these locations?
 
It seems like you feel location is a wash because of the different +/- to each. So the real pro/cons are:

Pros:
CV - Better floor plan that has living space on bottom floor which is more desirable. I believe the courtyard is a good size as well and is nice as well.
PS - Detached, so it provides more privacy and is less noisy as well.

Cons:
CV - Seems like the price is going to be a bit more (not too much though) and  is an attached product (on one side)
PS - Layout is three stories with living room on second floor and bedroom on the bottom floor.

It seems like the 3 stories is not your first choice but an option you are not complete opposed to. Given that you are worried about resale, it seems like the underlying issue left would be to see if these 3 story units hold up well value wise and if so, then definitely go the Luna route. If the 3 story units really suffer when it comes to resale, then I would go with Zinnia.

 
I think you pretty summed it up Irvinean, Luna seems great but I am just not quite sure about the 3 stories.

Its not terrible for be personally, but definitely not ideal and prefer a more traditional set up. But I am young...ish, so thats my situation.

But when it comes to resale, I really have no idea how these hold up. Obviously, this type of floorpan wont command the same $/sqf as the other models. For how much less? I do not know
 
If you are worried about resale, avoid 3 story homes.  They are less popular when it's new and will be less popular when you sell them

The price of home at CV is a little higher for a reason, there's slightly more demand here at CV compares to PS.  There are several negatives at CV as mentioned in the previous post but with those thing considered, sales are still stronger at CV than PS.  So years down the road, this higher demand might still hold and home at CV will be easier to sell compares to PS.
 
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