Orchard Hills versus Newport Coast with remodel needed over time

Which home/location would be a better buy and have a better return in 15-20 years, as a primary home

  • Capella in Orchard Hills

    Votes: 2 7.1%
  • 20 year old Newport Coast home, with a bigger lot and in need of remodel that can be done over 5 yea

    Votes: 26 92.9%

  • Total voters
    28

raisingboys

New member
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.

 
No brainer for me, Newport Coast all day every day if I can afford it.  Heck I'll even pick Newport Coast over the Turtles. 
 
newport coast all the way.
you won't regret it. Plus you can count on appreciation of your home everyone wants to live in newport coast.
 
Newport coast for sure.  In terms of holding or even greater chance of appreciation, I believe Newport coast wins. 

The cool weather, proximity to the beach, lack of fobs running around the hood driving recklessly or spitting on my driveway are deciding factors that made the Simpsons move there.

Walk around the NC hood during the evenings and enjoy waving, smiling and engaging in conversation with the other neighbors.  If you walked around the hoods in Irvine, you'll either get ignored or stared down.

Cheers
 
Even if it means potentially working 4 hours a week extra to make more income and save for remodel over 3 years or so?  Would probably need to do remodel in phases over a period of 5 years. 

And maybe even consider sending kids to Newport public schools instead of lower-ratio, moderate priced private school?  I heard Newport is less academically competitive than IUSD and the more desirable TUSD. 

Guilt kicking in with the excitement of NC possibility. 
 
#FARM said:
Walk around the NC hood during the evenings and enjoy waving, smiling and engaging in conversation with the other neighbors.  If you walked around the hoods in Irvine, you'll either get ignored or stared down.

LoL - they just won't talk to you for the following reason(s): Wont speak to you because you don't speak the same language or dialect, or wondering wtf you doing in their mini driveway or courtyard area, or think your are trying to sell something so they walk the other way or close their garage door
 
raisingboys said:
Even if it means potentially working 4 hours a week extra to make more income and save for remodel over 3 years or so?  Would probably need to do remodel in phases over a period of 5 years. 

And maybe even consider sending kids to Newport public schools instead of lower-ratio, moderate priced private school?  I heard Newport is less academically competitive than IUSD and the more desirable TUSD. 

Guilt kicking in with the excitement of NC possibility.

Homie, you are comparing newport coast to irvine.  People strive to get closer to the beach not away from it! Hypothetically speaking, if one day all the jobs left irvine and all the schools in irvine sucked, the values of the homes are going to suffer. 

Don't think the beach is going to move away from us anytime soon unless we break off from an earthquake... Which I think may benefit us.. Beach front properties on our own island ftw!!

But seriously, you can always change how the home looks inside or out... You can't change your location.  I'm pretty sure I won't be the only one to tell you to take your talents to the beach!

 
eyephone said:
#FARM said:
Walk around the NC hood during the evenings and enjoy waving, smiling and engaging in conversation with the other neighbors.  If you walked around the hoods in Irvine, you'll either get ignored or stared down.

LoL - they just won't talk to you for the following reason(s): Wont speak to you because you don't speak the same language or dialect, or wondering wtf you doing in their mini driveway or courtyard area, or think your are trying to sell something so they walk the other way or close their garage door

I speak canto and mandarin... I know they see me waving and saying ni hao.. No one ever says hi to homer :(
 
#FARM said:
Depends on what you are remodeling and what taste you have.

Change tiles flooring to wood, new carpets, reface kitchen cabinets, change kitchen counter tops, new carpets, re-tile showers x2, new windows in 5 yrs, some roofing repairs. Paint interior.  That's about it. 
 
I agree with everyone, Newport Coast will appreciate better, but in the long term, so will Irvine, just not as much.  Personally, I think it's a royal PIA to remodel a home while you're living in it.  Doing the whole remodel after COE is much easier but then you need the cash to do the remodel and pay mortgage and rent during the remodel period.

In terms of schools, I think cream always rises to the top.  If your child is smart and motivated, your child will do well at any school.  Are you planning to live in this home until your kids graduate from HS and if so are you planning to send them to private HS?  Private HS is expensive.  The additional appreciation from living in NC might be lost paying $30k/per yr/per child.

To me, your decision really is about lifestyle.  Commute time to work, proximity to relatives, shopping, restaurants, etc are all important considerations.  While we all want the very best for our children, you need to also decide what's best for you and your wife.  If both of you would rather live in Irvine for lifestyle reasons, then I say that's the best place for you.  Follow your gut instinct.  I say throw out the appreciation factor and decide where you and your family WANT to live.  Good luck, it's a hard decision.
 
thatOSguy said:
#skiptheroast #dothecoast
I don't know what the roast is but this made me laugh.

My Unicorn instincts say always bet on Irvine... but I don't really like the OH area. That's a hard decision because I really value the work close to your home situation and there are more things for us to do in Irvine (although this summer we've been spending quite a bit of time at the coastal cities).

The appreciation aspect is something I think you need to take out of the equation. Both should appreciate nicely in a 15-20 year period and like most are saying here, the NC one should have the advantage... but the question really is... how does it affect your "now"... your current lifestyle?

I think before we had kids, we had made up our minds that our next move would be to the Newport Beach area. But after we had them, going through all the school stuff, activities, whatever... we realized that Irvine is just a better place for our family. Sure, some villages may be too "ethnic"... but I think wherever you go, you are going to have some issue with the demographics (but I guess I'm spoiled because all the Irvine villages I have lived have been somewhat diverse). The school thing is hit or miss, I think either area will be okay for your kids as long as you stay involved. I do hear concerns/rumors about issues in coastal city high schools (even the private ones).

As for the reno concern. I don't think it's too bad considering your are doing the least impactful things... flooring, cabinets, countertops and windows are not as disruptive as a full room addition or anything breaking interior and exteror walls. How old is the NC home? Is the floorplan the older multi-living space type or the newer one big room type? That's a factor for us... which is why we really can only consider resale in Irvine (or new that we can compromise on).

And if there was a 3CWG that I could afford in Newport, I would consider it... but I know they don't exist.

I think most everyone would say Newport Coast as a recommendation, but if they had to make that same decision themselves (if they are currently living in Irvine), I'm not sure it would be that easy (unless you're Farmie who has a hate-on for Irvine now :) ).
 
Who voted for Capella?  Paris?

BTW, I don't see any Newport Coast homes in the same price range as Capella.  Help?
 
ps9 said:
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 close 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.
 
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