Couple of things.
Views expressed below are my personal views.
I am not an expert....nor a homeowner.
I am currently looking for a place to own, and went through the phase of whether i should buy a townhome or SFH.
Ultimately i decided on a SFH because i like the feel of a backyard.
Budget wise--- the SFH are not too far away from Townhome
I figured that instead of paying 300 HOA, i can pay the difference amount towards SFH.
($300 for HOA per month averages tot $50000 over a 30 year period).
So, here's my view:
1) For a townhome, stick below $600k.
2) 3-4 years down the line, these are not going to appreciate to 800k and above.
3) Its unlikely that ppl would want to pay more than 700k-800k for a townhome with high HOA($300).
>> Yes, things can change, but i dont see that as a feasible prospect.
>> I am not talking about cash investors ....but rather ppl with 20% down.
4) Also DR Horton harmony and Taylor Morrison Avenue have been rezoned to a lower API school:
5) There will be a lot of townhome/condo surplus in Milpitas 4-5 years down the line.
>> There is a new construction project coming up at Great Mall which is expected to add another 300-500 units/townhome/single family homes at minimum.
>> Last checked there were some environmental issues because it was coming up at an old Battery disposal facility at Great Mall. But i am sure it will come in.
If you factor Harmony/Avenue/PACE(velocity/Momentun), Abel Street Condos/townhomes, Coyote Creek, Crescent village in Cisco area, North Park, EPIC apartments, New apartments coming at Cisco area @ Tasman/Zanker and upcoming projects....there a lot of competition for Rentals/Renting out your property due to Investment buyers.
>> Add to it, the shea aparments opposite Great Mall, the Avalon eaves close by, the other Misc Apartments close by....there's a lot of competition.
Owning a SFH will have a unique value vs Townhome.
Milpitas is an area where the SFH come for about the price of the Townhome/Condo at Avenue/Harmony e.t.c.
Hope it helps
If you're interested and want to secure a home quickly before prices go up another $40-70K, you should get assistance with an experienced Realtor who has dealt with these builders before attempting to approach them yourself.
I've had the pleasure to show Trumark but don't know of anything negative about them.
If you have already registered with the Builder it would be a challenge to have a buyer agent help you. If you have not registered or are willing to pay a buyer's agent I'd be happy to sit down with you and discuss the various aspects of purchasing new construction.
All the best to you.
You should talk to my best friend in real estate who lives in a townhouse in the same area. Vicky Le can help you make the right choice.
Let me know if I can connect you.
Mario Pinedo, CCIM
Real Estate Broker & Lender
Keller Williams & CS Financial
BRE Broker 01118365