Wanting to purchase with a budget of roughly $550kish

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JAM710

New member
Hey guys-

Ive been following TI for about 6 months now and I would like to ask you guys for some help. My husband and I are looking to sell our condo in Newport and buy a townhouse in the Irvine/Tustin area... preferably Irvine, of course! Our budget is roughly $550k ( I know I know...it's not the $1mill budget you guys have ) ...we're 28 years old, wanting to buy a townhouse where we can raise our future kids in. We're looking for: roughly 1500 sq ft, 3 bed 2+ bath, attached 2 car garage and hopefully a little sliver of a backyard/front yard.

Do you guys know of ANY new construction that will be coming up within our price range maybe within the next year? If you guys had this budget/requirements... where would you purchase? We checked out BR...Hubs didn't like the jail being so close..and hated the surrounding industrial area...so that's out of the question.

I noticed a few resale homes that have sold within our price range within the last 6mo but there are so few that are in our budget (ie:http://www.redfin.com/CA/Irvine/83-Courant-92618/home/28932400).We're open to resale and new.. of course would rather have new.. but open to any/all suggestions.

Thank you!!!
 
I've seen some stuff in Woodbridge that might work well for you. Love the lake and amenities there. Great for kids. Central location and no mello Roos. Might be older and some odd floor plans but you can always fix up as budget permits down the road.
 
JAM710 said:
If you guys had this budget/requirements... where would you purchase? We checked out BR...Hubs didn't like the jail being so close..and hated the surrounding industrial area...so that's out of the question.
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Welcome to TI. Well, since you mentioned that you've visited Lake Forest, I've gotta go there -- have you looked in Foothill Ranch? The homes are away from any industrial complexes, a few miles north of BR, shares the same elementary and shopping centers except walking distance to the school & library. The only hard part there is that unfortunately $550k doesn't go as far there as it used to. In fact, the $500-625k range seems to be lacking altogether right now. The inventory is either sub-$500k for a 2-bed, attached or over-$650'ishk for 3 bed, detached. Your best bet would probably be the Brittany complex of detached condos. I can state an example if it would help. Good luck! I was in your shoes once & looked everywhere.
 
JAM710 said:
Hey guys-

Ive been following TI for about 6 months now and I would like to ask you guys for some help. My husband and I are looking to sell our condo in Newport and buy a townhouse in the Irvine/Tustin area... preferably Irvine, of course! Our budget is roughly $550k ( I know I know...it's not the $1mill budget you guys have ) ...we're 28 years old, wanting to buy a townhouse where we can raise our future kids in. We're looking for: roughly 1500 sq ft, 3 bed 2+ bath, attached 2 car garage and hopefully a little sliver of a backyard/front yard.

Do you guys know of ANY new construction that will be coming up within our price range maybe within the next year? If you guys had this budget/requirements... where would you purchase? We checked out BR...Hubs didn't like the jail being so close..and hated the surrounding industrial area...so that's out of the question.

I noticed a few resale homes that have sold within our price range within the last 6mo but there are so few that are in our budget (ie:http://www.redfin.com/CA/Irvine/83-Courant-92618/home/28932400).We're open to resale and new.. of course would rather have new.. but open to any/all suggestions.

Thank you!!!
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Did you check out Agave in Portfolio Springs or Caserta in Cypress Village? I think those are within your striking range.  How about almost new townhomes like Santa Maria in Stonegate.  Unfortunately they offer 2bd for low to mid $500k.  You can get 3br. for upper $500k to low $600k.  Interest rate is low and you also have to think about your income growth potential.  Try to buy a little more then what you might be comfortable with as you are young couple with significant future income growth (hopefully).
http://www.villagesofirvine.com/
 
Thanks so much for your input so far!

Yes... we've explored FR ... unfortunately hubs cant stand the drive on Alton (and Bake is way worse IMO) .. I think it's really the jail and industrials... but mainly the jail that he doesn't like. I do really like some homes in the $570 range in FR that I've seen.. but he's not having it :)  ....maybe after seeing what $550k will really get us in Irvine/Tustin we'll re explore the Lake Forest/Foothill Ranch area. Thanks for bringing that up :)

We absolutely fell in love with San Mateo residence 3 when it first came out last year.. I think residence 1 started at $570ish ( and we would've gladly purchased that plan since we really liked that too)... if only we were thinking of buying then. Of course not...We started looking a little in Sept (I believe at that time the prices were in the mid 600s since they were nearly all sold out)  and now prices have gone up like crazy for everything!! Hubs and I want for me to stay at home when we have kids so we really want to live well within our means and only buy $550k ish. We'd be putting 20% down.. a little more if we need to, and we're ok with the mello roos.

We have visited San Mateo, Luna, Agave, Caserta, Cambria, and Jade Court ( with residence 3 at Jade Court being our fav after San Mateo) ....I'll have to look into Santa Maria.. but we live right now in a 2 bed 2 bath and really need an extra room for when we have kids.

I'm on EVERY interest list for everything in our price range right now.. was hoping maybe you guys had some insider info as to any new construction within the next year.. we're putting our condo up for sale within the next month or so.. and would be ready to purchase as soon as our place sells which we don't foresee having a problem with.

If brand new is out of our budget then oh well it is what it is. I'm just excited to purchase our next home..and praying its anywhere between the district and PS!
 
bones said:
JAM710 said:
Thanks so much for your input so far!

I'm on EVERY interest list for everything in our price range right now.. was hoping maybe you guys had some insider info as to any new construction within the next year.
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Some others to add to your list:

1. Portola Springs Enclave 3.  This is located between the 133 toll road and where Pavilion Park is.  They are building both attached and detached condos on this site.  They've been grading and doing a lot of work here and the first project (Sage II by KB homes) has been announced (or leaked).  I'm sure others will follow soon.  Here's the TI thread on this enclave:http://www.talkirvine.com/index.php/topic,11223.msg217073.html#msg217073

2. Tustin Legacy.  I know you mentioned between District and PS so maybe you'll consider this location.  It's Tustin and they're building some 3 bedrooms 1800sf stuff here.  May be out of your budget but something to track.  Link here:http://www.tustinlegacyrealty.com/planning-commission-approved-development-plans/
and here:http://www.talkirvine.com/index.php/topic,1988.30.html

3. PA5.  This is the area next to Stonegate between Portola Parkway and Irvine Blvd.  They will be building condos and detached condos here.  No specifics have been announced yet.  Models should be opening this year.  Link here:http://www.talkirvine.com/index.php/topic,3654.msg211688.html#msg211688

Good luck!
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THANK YOU!!!!!!! I called the sale rep about the base model for KB-Sage II... thought it could be possibly in my range until the rep said they don't have pricing yet but they're expected to debut (for the cheapest model) in the mid $700s...didn't Sage I debut in the mid 500s...$200k increase in 1 year. WTF.

Ill for sure check out Tustin Legacy.

Ditto for PA5. I have a lot of googling to do apparently! 
 
lnc said:
In Tustin Legacy which bones mentioned, You might want to check out Sheldon.

Sheldon - Tustin Legacy
1,837 sqft - 2,389 sqft
3 bed, 2.5 bath - 5 bed, 3 bath
Grand Opening in May 2015 with price starting in the $500's
http://www.talkirvine.com/index.php/topic,1988.0.html
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I'll definitely look into this. I've been so into researching Irvine that I've slacked on my Tustin research. We did however drive through the Columbus Square area about a month back and I did really like it. Saw a bunch of young families which was nice!
 
OpenSky said:
There are some really great resale options in Woodbury and NorthPark. I'm obviously biased toward the latter. Drive the streets behind the gates and walk with your kids to the parks to get a feel for it. You can also jump on the mountains to sea trail and make your way back to Newport..
http://www.redfin.com/CA/Irvine/247-Lockford-92602/home/5920158
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notTHEoc said:
I've seen some stuff in Woodbridge that might work well for you. Love the lake and amenities there. Great for kids. Central location and no mello Roos. Might be older and some odd floor plans but you can always fix up as budget permits down the road.
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...does Woodbridge as a whole have low/no mello roos? Just researched homes that have sold in that area.http://www.redfin.com/CA/Irvine/144-Briarwood-92604/unit-46/home/5516720... I really like this home.. and there are a few in that community that have sold for roughly that amount..and I like that there's an actual driveway to feel more like a home. We're ok with remodeling..we completely re modeled our condo we live in now so its no biggie for us.  I'll have to drive through that area, thanks!!
 
JAM710 said:
OpenSky said:
There are some really great resale options in Woodbury and NorthPark. I'm obviously biased toward the latter. Drive the streets behind the gates and walk with your kids to the parks to get a feel for it. You can also jump on the mountains to sea trail and make your way back to Newport..
http://www.redfin.com/CA/Irvine/247-Lockford-92602/home/5920158
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notTHEoc said:
I checked this one out and was told that can't get loan on this Lockford property because of HOA litigation.
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Re:  Woodbridge-  if you liked Briarwood in North Lake-  check out 10 Thicket which just came on in South Lake (sorry I could not provide the link here). Very nice 3 bd with a detached feel in your price range.
 
Welcome to TI JAM.  Have you guys looked at West Irvine?  The Mandvale floor plan in the link below might be a good choice for you...
http://www.redfin.com/CA/Irvine/18-Morningdale-92602/home/5885598

It's a little above your budget, but since the Mello Roos and HOA are lower than most other attached condos in Irvine, it may work for you.  West Irvine has a central location with low Mello Roos and low HOA fees for attached condos.  This particular condo has a front yard area.  Good luck on your search.
 
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