Orchard Hills versus Newport Coast with remodel needed over time

[paperboyNC]

Who voted for Capella?  Paris?

BTW, I don't see any Newport Coast homes in the same price range as Capella.  Help?

Wasn't me.  #notbatshitdelusional

That being said, can you get a 3K sf tear down in NPC for anything clsoe to $1.4ish?

If you have the scratch to buy that kind of home in NPC and do the reno, it's a slam dunk that even Lin might be able to make.

Here's the closest thing to an affordable 3K sq ft home in NPC according to redfin:
https://www.redfin.com/CA/Newport-Coast/15-Menton-92657/home/4736107

$1.685m
2,950 sq ft
5,232 lot size
HOA $334/mo


If I was spending that kind of money I'd demand ocean views. Here's a nice home in Laguna Beach:
http://www.redfin.com/CA/Laguna-Beach/913-Summit-Way-92651/home/4894454

 

[O Hills]

The other consideration in favor of NPC is that it is pretty much built out.
So, what you see is what you get.

With Irvine, there's a huge influx of homes, high density product, and low income housing coming online in the near future.

What impact will this have on the schools, property values and the quality of life in general is an unknown. #kindascary

 

[OpenSky]

8)

 

[abcd1234]

If your choice is Menton- it's a tossup.  There's another neighborhood in that price range as well.  If you are saying that the yard in the NC home is bigger, wow- is all I can say about the OH lot size. 
 
I think OH is too far. 

I don't know the floor plan of the OH house, but I have been in a NC home with the exact floor plan.  The family room is TINY.  The layout/location of the formal living room in the Menton house will probably not be used as a casual space.  I have a friend that took the Menton floor plan and put a little office/loft upstairs where the LR has a 2-story ceiling.  One plus is the guest bedroom with bathroom there.  But that's about it for that floor plan.

Personally, to live and pay a premium to say you live in NC and not have views and live in one of the cheapest villages of NC- I guess I'd pass.

 

[O Hills]

If your choice is Menton- it's a tossup.  There's another neighborhood in that price range as well.  If you are saying that the yard in the NC home is bigger, wow- is all I can say about the OH lot size. 
 
I think OH is too far. 

I don't know the floor plan of the OH house, but I have been in a NC home with the exact floor plan.  The family room is TINY.  The layout/location of the formal living room in the Menton house will probably not be used as a casual space.  I have a friend that took the Menton floor plan and put a little office/loft upstairs where the LR has a 2-story ceiling.  One plus is the guest bedroom with bathroom there.  But that's about it for that floor plan.

Personally, to live and pay a premium to say you live in NC and not have views and live in one of the cheapest villages of NC- I guess I'd pass.

If you're in the $1.7M range, you're looking at product with much bigger lots in OH.
Capella, the #valuvlg of the Groves, is the only product with small lots (abt. 4k) on the gated side.

 

[paperboyNC]

If you're in the $1.7M range, you're looking at product with much bigger lots in OH.
Capella, the #valuvlg of the Groves, is the only product with small lots (abt. 4k) on the gated side.

If you looking to spend around $1.6-1.7M on a new home you want a base price of around $1.4M to allow for upgrades, landscaping, etc. One advantage of buying a resale is you can plan to upgrade later without needing to spend the cash now if what's there is already livable.

 

[test]

Newport Coast is overrated




































just kidding

 

[test]

Would appreciate your perspective.

We are buying our primary residence, approx 3,000 sf home.  We would also like to see our home appreciate over 15-20 years.  We are debating on Capella OH with a 4,000 sf lot or an older home in Newport Coast with the same sf, but larger lot. 

Irvine is a great central location, but we feel that schools may be more competitive for our children (even TUSD in the OH area).  A new home in Irvine would be hassle free of remodel for the next 20 years.  But our lot will be very small, which I think our family can adapt over time. 

Newport Coast is inconvenient for shopping, an extra 15 minute commute to work and grandparents, but the weather is cooler, and the schools are not as competitive.  BUT, the newport coast homes that are at similar price points with Capella (slightly higher purchase price, considering sans Mello Roos) would need moderate remodeling that can be done in phases (windows, floors, cabinets, bathroom tiling, paint).  Remodel max would prob be no more than $80K over 5 years.  But the weather is cooler and the beaches are closer to enjoy.

I know everyone almost always says "go coastal".  But we feel like OH versus NC is a hard decision, considering the pros/cons. 

Any input would be appreciated.  Thanks in advance.

You're comparing one of the worst locations in Irvine (OH is on par with PS) with Newport Coast one of the best locations outside Irvine.  How about something south of the 405, Turtle Rock or if you want newer Laguna Altura.

 

[OpenSky]

 

[abcd1234]

The community pool in the Menton subdivision is also really small.  I am not into OH, but I would think the ammenties will be nicer than the $340 you'll pay for a non-guard gated community at NC. 

 

[irvinehomeowner]

I'm prolly the biggest OH basher on here, but putting it "on par" with PS? Gimme a break.

 

[O Hills]

If you're in the $1.7M range, you're looking at product with much bigger lots in OH.
Capella, the #valuvlg of the Groves, is the only product with small lots (abt. 4k) on the gated side.

If you looking to spend around $1.6-1.7M on a new home you want a base price of around $1.4M to allow for upgrades, landscaping, etc. One advantage of buying a resale is you can plan to upgrade later without needing to spend the cash now if what's there is already livable.

The ability to do upgrades over time is not unique to resale though.
With a new home, you can always take all standard/minimal upgrades and upgrade over time.
The only major cash outlay you must make is for landscaping/hardscaping, but you can take up to year after COE to get that done.

If you purchase a $1.7M home in NPC, how much do you expect to spend on upgrades immediately and overtime?
All in, a more realistic comparison point is probably Messina, Vicenza, Saviero and, maybe, Amelia-- not Capella.

Most people would probably still chose NPC, but it might not be so lopsided if you listed one of the other projects in the poll.

 

[paperboyNC]

The ability to do upgrades over time is not unique to resale though.
With a new home, you can always take all standard/minimal upgrades and upgrade over time.
The only major cash outlay you must make is for landscaping/hardscaping, but you can take up to year after COE to get that done.

If you purchase a $1.7M home in NPC, how much do you expect to spend on upgrades immediately and overtime?
All in, a more realistic comparison point is probably Messina, Vicenza, Saviero and, maybe, Amelia-- not Capella.

Most people would probably still chose NPC, but it might not be so lopsided if you listed one of the other projects in the poll.

True. As mentioned, I would not buy either. If my budget was $1.5 million or higher I'd demand ocean views. You generally get much better appreciation with ocean views especially if the home is also a short walk to the beach.

 

[raisingboys]

Let's just say hypothetically both homes are of equal value and will end up with equal monthly mortgage.  We're estimating $80K in repairs over 3-5 years and willing to sacrifice that for a cooler weather (especially today  ). 

You guys raised some good points, thanks. 

There wouldn't be any beach views or "short walk to the beach" SFH for $1.6 or below.  Unless we do attached homes or 1800sf homes. 

 

[O Hills]

Let's just say hypothetically both homes are of equal value and will end up with equal monthly mortgage.  We're estimating $80K in repairs over 3-5 years and willing to sacrifice that for a cooler weather (especially today  ). 

You guys raised some good points, thanks. 

There wouldn't be any beach views or "short walk to the beach" SFH for $1.6 or below.  Unless we do attached homes or 1800sf homes.

Both homes- meaning 3000 sf in both Capella and NPC?

If so, it sounds like you found a very good deal in NPC. 
You wont have a problem with the deposit?

 

[paperboyNC]

Let's just say hypothetically both homes are of equal value and will end up with equal monthly mortgage.  We're estimating $80K in repairs over 3-5 years and willing to sacrifice that for a cooler weather (especially today  ). 

You guys raised some good points, thanks. 

There wouldn't be any beach views or "short walk to the beach" SFH for $1.6 or below.  Unless we do attached homes or 1800sf homes.

Look at the 3000sq ft Laguna home I posted earlier.

 

[raisingboys]

Look at the 3000sq ft Laguna home I posted earlier.
[/quote]

Beautiful house, but that would probably add an extra $1K on mortgage and 20 minutes to commute.

 

[jyeh74]

The ability to do upgrades over time is not unique to resale though.
With a new home, you can always take all standard/minimal upgrades and upgrade over time.
The only major cash outlay you must make is for landscaping/hardscaping, but you can take up to year after COE to get that done.

If you purchase a $1.7M home in NPC, how much do you expect to spend on upgrades immediately and overtime?
All in, a more realistic comparison point is probably Messina, Vicenza, Saviero and, maybe, Amelia-- not Capella.

Most people would probably still chose NPC, but it might not be so lopsided if you listed one of the other projects in the poll.

True. As mentioned, I would not buy either. If my budget was $1.5 million or higher I'd demand ocean views. You generally get much better appreciation with ocean views especially if the home is also a short walk to the beach.

$1.5m with ocean views?  Either you are looking at a condo or a SFR that is pretty far from the beach.  I am not sure you can get a nice home at $1.5m with ocean view near the beach, unless you are in San Clemente maybe?

 

[Paris167]

Who voted for Capella?  Paris?

BTW, I don't see any Newport Coast homes in the same price range as Capella.  Help?

HaHa...very funny. 

Although no one can argue that NC will be the better overall investment I think it comes down to personal decision based on your lifestyle and what you look for in a home that's your primary residence.  Investment potential is always important but I think other factors certainly trump that when it's your primary home.

For us we really like north Irvine, wanted to keep the kids in the same school district, think the location is easy access to shopping and freeways. And we didn't want to go through a remodel with young kids while living in the home. Everyone has their list of reasons for the locations they choose to live in.

Good luck with your decision! Btw after reading your post I looked at what's available in NC in Capella's price range and agree with ps9 - I couldn't really find anything.  Over 2500sqft is $1.675 to $1.7mil range which is considerably more than Capella even with upgrades and landscaping. Were you looking at a smaller home in NC?

 

[irvinehomeowner]

There is actually another option here to me, and that's a resale priced above or around Capella (to account for MRs) in Irvine (not just OH).

That's probably what I would take (since I'm not a fan of the OH area nor the "build a house around a great room no matter what the size" floorplan).

In another thread, someone is claiming people are moving from Newport Coast to OH... while I'm not sure about the validity of that hearsay... one point is Irvine's centrality is an advantage over coastal living or views. Irvine has easy access to 3 major freeways and 2 toll roads and while you may not be able to get to the beach in 2 minutes, how often do you go to the beach (unless you are a lifeguard)? But you do go to work, eat, etc everyday and the Irvine location coupled with safety, planned community and schools is a big draw... and yet still close enough to go to the beach every weekend if needed (unlike Johns Creek or anywhere in the Inland Empire).

As for weather, not sure how much cooler NC is than Irvine because Irvine is pretty temperate, but then the OP is comparing OH which I believe is hotter than southern Irvine (which is probably why I would target a resale in central/southern Irvine rather than north/OH).

When we retire and our kids are older... we would probably consider a coastal location, but at this time of our lives, Irvine is just much more convenient for our daily hustle and bustle.