Home Buying in Irvine>Question Details

Ocbuyer22, Home Buyer in Irvine, CA

What is a better investment opportunity Irvine? Laguna Hills or Tustin Ranch? I prefer Irvine but can get something bigger in Laguna Hills....

Asked by Ocbuyer22, Irvine, CA Mon Oct 10, 2011

I want to buy a 3 bed house with garage, preferably not a condo and I do not want Mello Roos.Budget around $500K. I know I can get more for my money in Laguna Hills but my commute would be longer and I am not sure how my future value will be affected.

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There are plenty of areas you can buy at $500,000 for a detached home. Tustin, Costa Mesa, Huntington Beach, IRvine. The larger a home you want the older it might be. The newer the home the more likely you will have Mello Roos. The important thing is to buy a home you will enjoy with your family. Your home is your castle. You dont want to spend hours on the freeway to come home and sleep. You want time to spend with family so contact us.
0 votes Thank Flag Link Thu Nov 3, 2011
Hi Ocbuyer,

What I would suggest is that we spend some time looking at homes in the different cities so you can see what your options are in your budget. I do this with relocation clients also. Once you get a feel for the price/size/location of different homes, you can narrow things down.

Sure Irvine has a nice reputation for it's schools....but my children went through the Mission Viejo schools and have been very successful....excellent educations. I have a son who just graduated from Pepperdine Law and my daughter went through the IB program in high school as a valedictorian. and just graduated from Cal Poly SLO.

The main thing is what are your family's needs and what appeals to you. As far as resale? if you think you need to sell in the next 5 years, then that's a consideration...but if this is longer term, then family enjoyment should weigh more...in my opinion.

I'd love to help you with this....and we can start by just seeing what's available in some different areas, go from there. If that would be something you'd like to speak more about, then shoot me a private email.

Karen
0 votes Thank Flag Link Mon Oct 31, 2011
Ocbuyer22,

There are a lot of great areas besides Laguna Hills. If you find the right home, the future value won't be an issue. Sit down and write out the most important things in your home search and number them according to importance. Wake up every day for at least a week and re-write this list out of memory and re-number them. That will give you a very clear idea of what you really want and help to prevent any buyer's remorse.

Don't worry about "investment" you'll drive yourself crazy! Right now, your return will be better the longer you stay in this next home and less on which area you pick. Look at what you want out of it and enjoy it. There will be other people who will find the same important features you see in whichever area you pick.
0 votes Thank Flag Link Thu Oct 27, 2011
Hi Ocbuyer22

When you purchase a owner-occupied residence, you're buying: the location, the price and the features.

- The price is defined by your financial situation, and what your lender approved.

- The features are personal taste and preferences (style, size...)

- The location however is a combination of lifestyle desires and obligations: is one single, or does one have a family and kids who go to school? Does one prefer to live in downtown or near entertainment, or does one like to be near the canyons for Sunday morning hikes and outdoor activities? What about the commute to work? ...

This is a difficult time to estimate whether a property will take value in the future or not. So perhaps you want to consider what is of value to you now and that will allow you to enjoy your new home? If you find a house that fits your needs and your budget, then this is a good deal.

In your dilemma, I recommend you write down your 5 MUST haves and take this list with you every time you view a property.

Good luck,

Mimi
0 votes Thank Flag Link Thu Oct 20, 2011
A good investment is an investment that doesn't stress you out as a homeowner. I live about 5 minutes from my office and everyday I thank myself for choosing the smaller/lesser home rather than a larger/nicer home that is further away. If I need something from home, or if there's an emergency at home, it takes me 5 minutes to get there. What good is a home if the commute to and from there is a pain? Hope that helps
0 votes Thank Flag Link Thu Oct 20, 2011
Don't even think about "investment opportunity." That was real estate in the past. Think about which house will be a better home for your family.

Happy funding, Rudi
Web Reference: http://www.umboc.com
0 votes Thank Flag Link Mon Oct 17, 2011
In that price range I would feel more comfortable long term in Tustin Ranch or Irvine than Laguna Hills. There are also some good deals in North Tustin in that price range, but many of them technically have a Santa Ana address, which bothers some people (probably why buyers get more for their money there). Let me know if you would like any help looking. Not too long ago my wife and I went through the same debate and ended up moving from Irvine to Yorba Linda. Best of luck!
0 votes Thank Flag Link Sun Oct 16, 2011
OCbuyer22, you can also find prices and values in older sections of Lake Forest or Mission Viejo, which don't have Mello/Roos taxes, just like older sections of Laguna Hills, with a similar commute.

Irvine offers a better rated school district than all the others, but part of that equation is that in Irvine, you will usually get a smaller house, on a smaller lot, for prices comparable to L.H., L.F., or M.V..

If schools are your priority, then Irvine will probably be your choice. If kids aren't an issue, then go for any of the other communities.

As for long-term investment thinking, the same differences will likely be in place 5, 10, or 25 years from now.
Web Reference: http://bit.ly/mls-search
0 votes Thank Flag Link Mon Oct 10, 2011
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