Woodbury - Stonetree Manor

NEW -> Contingent Buyer Assistance Program
Thanks for sharing the details of your purchase Oak Creek Renter! Wow, that's two today :) It's interesting how they aren't 'dealing' whereas some other builders are.
 
Irvine_Native: I was told that phase 3B will be in the next few weeks.





Interestingly enough, on the 2-3 homes that fell out of contract, Laing was offering $25K with closing cost assistance, which seems to mirror what is going on at Cantara. We didn't purchase one of these "quick move-ins", which may explain why we didn't get crazy money.





FYI, there is a plan 3 that lists for $896,180 with $25K in incentives. We didn't take it because most of the additional cost comes from upgrades that in our opinion, weren't worth the price (jetted tub, crown molding, upgrade paint, etc). The lot is also a standard lot (zero-line, non-corner).





However, I suppose the moral of the story is that the closer you get to the homes being built, the more the incentives are applied...





OCR
 
If it would be of assistance to the group, I'll chronicle my new home buying experience on this comment thread.





I promise to be as unbiased as someone who just put down +$850K for a new home can possibly be (i.e. not very)...





It may help others interested in buying a new home.





OCR
 
i also live in woodbury. congrats and welcome to the neighborhood. there is indeed a dam in the hills above woodbury. when i was in the sales process, i too had to sign the waiver and my insurance co also required that i have flood insurance. fortunately the infrastructure improvements were finished before i closed escrow and theres no longer flood insurance requirements. (you'll notice the large wash that runs parallel to jeffrey if you're walking on the jeffrey trail). they should provide you with a copy of the documentation from fema that states the flood improvements have been made and approved. you'll defin want to keep that for obvious reasons and also to pass on to the next owners if you ever sell your home.
 
To: Oak Creek Renter





Congrats on the purchase! Is the home still under construction? If so remember to order all the extra electrical/cable outlets and water taps where you think you might need it. :) I forgot with my first "new" home and ended up with 25' power extension cord taped to the wall in my garage. LoL.
 
<p>Oak Creek Renter - granite counters and epoxy flooring are definitely a builder thing as these items take weeks to complete. And not to mention poor look and quality.</p>
 
IrvineMom: You would recommend that I purchase granite/epoxy from the builder? Or should I go with a 3rd party after close of escrow?





A few more interesting things:





1. The lender that we went with (JLH Mortgage) requires less documentation than the builder (Laing Homes)! Amazingly, we don't get any interest rate relief from having income verification, so our 30 year fixed was a stated income/asset loan. Laing Homes, on the other hand, requires bank statements and pay stubs.





2. Laing makes no claims as to the future of the El Toro Marine Corp Air Station, and we had to sign a disclosure acknowledging this. In other words, while they casually mention that it is PLANNED to be a great park, there's can't guarantee that it won't become an airport. This may be a boilerplate clause from the pre-Measure W days, but it does make you stop and pause...Woodbury was very close to being a much lower priced neighborhood!





-OCR
 
<p>Oak Creek Renter - You must go with the builder for granite and epoxy. I see enough mistakes!</p>

<p>- After market granite is a nightmare - dusty, takes forever, mess-up plumbing/faucet,appliances, warranty void - you save $5K upfront, then you pay $10K afterward for damages, time (usually 3-4 weeks), and pain and suffering. Not to mention the imperfection look. Pay whatever the builder wants.</p>

<p>- After market epoxy - same quality one cost more. Do not go with cheap installer- it will peels like there is no tomorrow becasue the floor maybe dirty and the cheap ones will not spend time to prep.</p>

<p>For floorings, you will save a bundle from 3rd party if you know where to go (usually 25% of builder's cost).</p>
 
OCR,





I built several homes, and here are my suggestions:





a. if the standard counter top is granite, then you should try to pick their no charge granite. However, usually , the no charge granite is not very good color wise. I found it is very expensive to upgrade granite from their standard ones to a color i like. I actually would suggest you get quotes from a reputable contractor before making a decision to go with the builder or not. As long as you use a reputable contractor, you should have no problems doing it after the close of escrow. Pacific Sales has very good contractors. ( I don't work for pacific sales).





b. For epoxy, i won't do with the builders. Remember, again, builders don't do anything. They SUBCONTRACT. So, again the trick is to find a reputable contractor to do it. Just walk around the neighbourhood, and find a referral.





c. You do need to consider doing some electrical work with the builder, because it is difficult to add later. For example, adding recess can lights for the first story of a two story home is very difficult. if you have a ele dryer, and they don't have the 220v connection, then you need to ask them to add it.





d. flooring? well, i won't do it with them unless you have left over credit allowance.





Finally, remember, for every penny of upgrade with the builder, you will be paying property tax for as long as you live there. If you do yourself after escrow, you will never pay property tax on those upgrades.
 
<p><em>"Finally, remember, for every penny of upgrade with the builder, you will be paying property tax for as long as you live there. If you do yourself after escrow, you will never pay property tax on those upgrades."</em></p>

<p><strong>Unless</strong> the county comes knocking on your door for a reassessment. This is unlikely, but does happen. You can bet if you have some hardwood floors and granite counters when the building sale had linoleum and formica, you'll be paying taxes on it.</p>

<p>I am still a proponent for getting upgrades after the sale through subcontractors, but everyone needs to know this is not a guarantee that you will never pay property taxes on the value.</p>

<p>SCHB</p>
 
<p>SCHB, </p>

<p>I agree with you that none of us can 'GUARANTEE" one will NEVER pay property tax on the upgrade value. It is possbile, but extremely unlikely. Unless you go apply for permits, they can't nor have the rights to come into your house to inspect what upgrades you put it. So, if you do put high value upgrades after closing, the chance of you will be paying tax on that is close to none. </p>
 
<p>just wanted to give my 2 cents as I did epoxy and granite myself. WL wanted something like $12k for the granite + $1k for upgraded sink and faucet. I got a contractor to do it for $3k total. I was able to pick out my own slab and color from a granite yard and get the exact faucet and sink I wanted. The demo took 1 hour and the install took 2 hours 6 days later. I took care of the plumbing myself so that saved an extra $300 or so. Obviously, there was some hassle factor invovled, but definitely enough to justify a 10k cost savings!</p>

<p>As for the epoxy, I just did that myself. Bought 2 kits from Home Depot and took care of it one saturday. Yes, this is different than what the professionals use, but it's good enough. As long as you don't buy the cheapest one and apply it CORRECTLY, it should get the job done.</p>
 
All:





Here are is the list of structural options you can choose. They are the first decisions that need to be made.





Optional Office (removes 3rd bathroom): $400


Master Bedroom Fireplace: $2,925


Door for Master Bath: $720


Jetted Tub: $1,900


Jetted Tub with inline heater: $2,230


I don't know why anyone would pay $400 to <u>remove</u> a bathroom...different strokes for different folks, I suppose. The bathroom door seems a bit much as well. We're leaning towards none of these options.


-OCR
 
<p>Optional Office v.s. bedroom reduces your home resale value by about $30K so do not do this. --- 1 bedroom less.</p>

<p>Master bedroom fireplace will increase your resale value. It will cost about $15K+ to add a fireplace after market.</p>
 
i had everythign that i didnt want to do with the builder done right after closing. as soon as i got the keys, i handed them off to my contractors and painter. they came in, did what they had to over the next few days. most builders will offer a free cleaning and touchup after you move in. they were willing to do the cleaning after all my contractors finished their work, and then come back for touching up walls (even in my own after-mkt paint) after my movers were done.





sure it might have been nice to have your home completed in its entirety the day you close but not at the cost the builder would have wanted for upgrades. but think of it this way, if the builder said to you, "let us push your move in date by a wk or two and we'll cut the cost of your countertops, flooring, hardscaping, painting, etc by 60%" -- my guess is you'd jump all over that offer.





and in reality, if its a home you'll be in for the long haul, you'll probably be doing work here and there over the course of the next few months if not year(s). its funny that we don't want to live in a tract home we expect our homes to be built one and done, no muss no fuss. no wonder builders can gouge us so badly on upgrades!
 
Let's look at the big picture - say the builder got the wrong upgrades installed, or poor quality, you can push out the move-in date. Also a cost saving for homewoner.
 
<p><em>"So, if you do put high value upgrades after closing, the chance of you will be paying tax on that is close to none. "</em></p>

<p>Or, we could look at the inverse;</p>

<p>If you do get builder upgrades, you have guaranteed paying taxes on those upgrades as long as you live there.</p>

<p>Incidentally, I would be curious to know what the specific, legal limitations are on inspecting or re-assessing a property that hasn't had any permits pulled. I didn't see anything on the OC assessor website that addresses this directly.</p>

<p>SCHB</p>
 
plan 1 and 3 is great, except why are there no windows downstairs on one entire side of the wall? makes it feel like an end unit townhome. or is it like that for all the models (so you can look out to "privacy")?
 
The homes are zero-lot line homes, in other words, your side wall is your neighbor's side-yard fence. Therefore, there are no windows on one side of the ground floor..privacy reasons, I suppose. Some home designs deal with this better than others.





Overall, it seems like Irvine has an awful lot (no pun intended...) of zero-lot line homes. I guess this is a space/land issue, but it's a feature that I see in older Northwood and Woodbridge homes too...





-OCR
 
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